The average personal injury settlement ranges between a few thousand dollars to about $75,000.
Do you feel that you have a chance at getting a settlement for a personal injury case you have been dealing with? Then it may be time to hire a personal injury lawyer to get the settlement you deserve.
If you’re curious to know what happens after the trial, read on! We have more information about what happens after you win a case.
Collecting a Settlement
Once you win a personal injury case, the first thing that is going to happen is that you will enter into a settlement agreement.
You will collect the amount you are owed once the other party accepts responsibility after the trial. This is what closes the case after the trial.
Most payments will start a few weeks after agreeing to settle the case.
However, there are times when collecting a settlement is not going to be as easy as signing a piece of paper.
The first reason this could happen is that the other party and defendant decide to file an appeal. An appeal is a time-consuming process, which means that you may not receive the settlement for quite some time.
On the other hand, a court may judge that there needs to be a retrial to determine who is at fault or if there should be a settlement.
Additionally, a court may tell someone to pay a settlement, but the defendant may not agree to it. Insurance companies will typically pay, but if the defendant’s insurance coverage doesn’t cover the entire settlement cost, it may be more difficult to get the settlement you have won.
Meet Your Financial Obligations
Once you collect your settlement, you’re not done with the case. You have to understand what financial obligations you have.
You will most likely owe a percentage of your award as legal fees. These are contingency fees. You will also be required to provide reimbursement to Medicare if they paid for some of your medical bills.
You will sometimes be subject to paying taxes as well.
Knowing these obligations before you win a case is helpful for what you do after winning the case.
Steps After Winning a Personal Injury Case
If you win a personal injury case, there are things you have to know about what comes next.
Sometimes, it’s as simple as collecting your settlement and then walking away after you pay a few fees. On the other hand, sometimes it won’t be this easy. You may have to go through another trial if the defendant appeals.
The most important part is to meet the financial obligations that you have after winning a case.
The good news is that you can have guidance through this entire process by hiring a personal injury lawyer. If you’re ready for that, contact us here at McDonald Worley.