Finalizing Settlement Agreements & Closing The Case

When you are harmed in an accident by another party, whether through negligence or intention, you can sue for damages. You will begin by hiring a Las Vegas personal injury attorney who will walk you through the process and help negotiate a fair settlement. Most cases are resolved out-of-court, but if it results in a trial, your lawyer will represent you and ensure you get the compensation you deserve.

If you are in the middle of settlement negotiations, you may be wondering how long the process will take and how to go about finalizing the agreement. The following blog can answer some of your questions about your settlement case and what you should expect as you and your lawyer work to close the case. Consult with a lawyer for more details about your specific situation.

What is a Settlement?

A settlement is an agreement between you and the at-fault party as to how much compensation you will be paid for the damages of your injury. Reaching a settlement that is agreeable to both parties can be challenging and requires the help of a Las Vegas personal injury lawyer.

In many cases, the at-fault party’s insurance company will offer you a settlement right away, hoping you will take their first bid. This settlement is usually as small as possible and may not take into account all of your losses.

Types Of Injuries That Can Produce An Injury Settlement Check

Accidents happen in the state of Nevada, but when it comes to personal injuries that were caused by someone else’s negligence or wrongdoing, you may be able to get compensation for your medical expenses, lost wages, pain and suffering, and more. Some situations that can lead to a settlement check include:

• Construction and workplace accidents
• Animal attacks and dog bites
• Car accidents
• Medical malpractice
• Defective products
• Slip and fall accidents

Step-by-Step To Receiving a Settlement Check & Closing Your Case

Being in an accident can be devastating, especially if it leads to serious harm, hefty medical expenses, and even loss. Every claim is unique, but there are some general steps that should be taken in order to obtain the settlement you deserve:

Step 1: Get Medical Care. Do so even if you don’t feel like you have been injured. If your accident qualifies for a settlement the medical records will be helpful, especially if your injury shows up later.
Step 2: Contact a Lawyer. Once you have been seen by a doctor, reach out to a Las Vegas personal injury lawyer for a consultation to evaluate whether you have a strong case or not.
Step 3: Notify Insurance Companies. Next, you will file your insurance claims with the at-fault party’s insurance. Or you will notify the at-fault party if they do not have insurance.
Step 4: Gather Evidence. You and your attorney will work together to gather the evidence necessary to prove your case and get the compensation you deserve. This can include medical records, pay stubs, expert witness testimony, and more.
Step 5: Send a Demand Letter. At this point, your attorney will draft and send a demand letter to the at-fault party’s insurance company. The letter will outline the facts of the accident, the extent of your injuries, financial damages, and the settlement amount you want.
Step 6: Negotiate a Settlement. Your attorney will negotiate with the insurance company for a favorable settlement. Negotiations often take time and include a back-and-forth dialogue.
Step 7: Sign a Release of Liability and Receive Your Check. The last step to your personal injury settlement claim is to sign a form saying you will no longer pursue further claims against the at-fault party for your injury.

When To Accept a Settlement Offer in Nevada Personal Injury Claims

When working with an insurance company, knowing when to accept a settlement offer can be challenging. Many companies will offer you an undervalued amount upfront hoping you will take it. The amount typically does not cover everything you need, but you may feel pressure to accept. Do not accept an offer if it is the first one.

However, going to court can be a lengthy process with outcomes that may not be fully in your favor. If it is between settling for a lower amount or going to court, it can often be advantageous to simply take the lower amount.

A skilled Las Vegas car accident lawyer can walk you through your offer and make sure you only settle for the compensation you deserve. They will evaluate the situation and determine your best course of action and they will negotiate on your behalf.

Signing a Settlement Agreement & Receiving Your Check

If you agree to a settlement, the work does not stop there. Your lawyer will coach you through signing a legally enforceable agreement. They will look it over to make sure it is agreeable since it will effectively end your chances of pursuing any further claims on the incident.

Once all parties have signed the settlement agreement, a check will be sent to your attorney. Your attorney will be tasked to pay any outstanding medical liens or other claims on your case. However, they will not simply pay the claims outright, but will negotiate lower amounts so you end up with the most amount of money in your pocket at the end of the day.

Are You Facing a Settlement Offer & Unsure if You Should Accept?

After an injury, your medical bills can be overwhelming and the last thing you want to do is fight with an insurance company for a settlement. Give yourself peace of mind by hiring our Las Vegas personal injury lawyers at Benson & Bingham; our firm always works on a contingency fee, and charges no fees until we settle or try your case to verdict. Our lawyers have a track record of success in acquiring the compensation our clients need, and then some! Contact us today for a consultation and get started on your journey to recovery.