Do I Receive My Entire Settlement Money After My Car Accident?
Most people believe that when they walk out of the courtroom after settling their car accident claim a very rich man. They’ll stop by their lawyer’s office and pick up their settlement proceeds later that day. Sounds great right? All movies do. In all actuality, however, it does not happen like that. When you do finally settle your case, the defendant doesn’t pay the same day. Usually, the defendant is given a pre-determined period of time to pay you. During that period (usually thirty days), the defendant will give the settlement check to your lawyer.
Settlement Check Process
This check could be made out to one of three people.
First, you may receive a check that has both you and your lawyer’s names on it. In this instance you would sign off on the check and your lawyer would deposit it into a trust account. After paying any medical bills, liens, and attorney’s fees you receive your settlement portion.
The second option you may see is two separate checks. One check would be made out to your medical providers, and one would be made out to you. The check for the medical providers will be sent directly to the provider. The other check will be deposited in your lawyer’s trust account. At that point, your lawyer fee will be taken out, then he will write you a check for the rest.
How Much Will Your Settlement Proceeds Be?
The whole point of settling your case is to get you relief while finding a number that works for both sides. The defendant in these cases won’t settle for the full demand amount. If that were the case, they would just wait and take their chances at trial. Your lawyer will make sure your settlement at least covers the bills you accumulated because of this accident, such as medical and car damages.
Pay Medical Bills Back With Settlement Proceeds
You will have to pay those medical bills back with your settlement proceeds, like it or not. If you used health insurance to cover your costs, they will have to be reimbursed. These providers will sometimes file liens against your claim to get paid right off the top. However, sometimes some of your medical providers will settle to accept less than the full amount. This happens in cases where your total settlement fails to cover the total amount of your medical bills. Your attorney will negotiate settlements rules with medical providers to try to reduce your costs as much as possible.
Contact an Experienced Attorney
You must remember, your lawyer’s job is not to make you rich, but to make you whole. The goal for your lawyer is to make sure you don’t have to pay out of pocket for the faults of another. If you or a loved one have been involved in a car accident, call and speak to an experienced Houston car accident lawyer.
Set up a free consultation with the Pusch and Nguyen Law Firm. They’ll give you all of your legal options to allow you the chance to choose how you would want to continue. The consultation is free, and you pay nothing until your case is settled.