Most personal injury claims in Missouri reach a resolution outside of court through a negotiated financial settlement. But how does the settlement negotiation process work, and how long does it take to get a settlement check? It depends on the case's unique circumstances, but here’s an overview of what you can generally expect.
The Process of Receiving a Settlement Check in Missouri
Negotiations are the first step in seeking a settlement after building a strong case for compensation. Negotiations are when your personal injury lawyer will go back and forth with the insurance company to seek as high an offer as possible. The negotiation process typically involves both parties making offers and counteroffers until they reach a mutually satisfactory agreement. Insurance companies often try to lowball injury victims with their first settlement offer, but victims do not have to accept it. Instead, with the help of an experienced personal injury attorney, it may be possible to reach a better personal injury settlement agreement through assertive negotiations. After agreeing to a settlement, but before getting your money, you will likely have to sign a liability release waiver form. The form waives your right to pursue more monetary damages from the insurance provider, so your attorney must review the agreement to make sure you are getting a fair deal. If the offer is suitable, you can sign the settlement documents, and the insurance company will cut a check that will be deposited into your attorney's trust account. Your attorney will deduct their agreed-upon fee before sending you a check or an electronic transfer to your bank account for the balance of the settlement funds.How Long Does It Take to Get a Settlement Check in Missouri?
Once you sign the release form, it should take two to six weeks to receive your settlement money. Injury victims usually can choose to receive their settlement in one of two ways:- A single lump-sum payment
- A structured series of payments over time
What Can Delay a Settlement Check in Missouri?
Several factors could delay receiving a settlement check, such as:- Administrative errors
- Severity of injuries
- Liability disputes
- Valuation disputes
- Case complexity
- Availability of evidence
- Presence of multiple litigants
- Ongoing medical care
How Legal Fees and Liens Could Affect Your Final Settlement
Usually, your attorney will deduct their legal fees from the final settlement. Third parties can also place a lien on your settlement to compensate them for services rendered. For instance, you may have to pay outstanding medical bills if you could not afford medical expenses while the case was waiting to be resolved.The Role of Your Attorney in the Personal Injury Settlement Process
Injury victims with an attorney are more likely to receive a settlement and receive higher average settlement amounts than those who work without a lawyer. An attorney can push back against insurers’ attempts to underpay and hold them accountable for their payment obligations. A lawyer can also accurately calculate the full extent of your injury-related expenses to demand financial compensation to fully cover all your losses. If you have questions about the personal injury case timeline and settlement negotiation process, contact Sumner Law Group, LLC, today for a free consultation with a St. Louis personal injury attorney.