What Is the Personal Injury Settlement Check Process in St. Louis?

What Is the Personal Injury Settlement Check Process in St. Louis?

Have you been injured in an accident in St. Louis? If you have, then you know how stressful it is to face mounting medical bills and other expenses, especially when you can’t work because of your injury. You need financial help, and you need it now, but how long will you have to wait to receive a personal injury settlement from the at-fault party?

Typical Timeline for Receiving a Settlement Check

When you’re injured due to someone else’s negligence, you can file a lawsuit and seek compensation for your injuries and related losses as long as you file within five years. However, most personal injury claims are resolved through the settlement negotiation process without ever going to trial. The settlement process still takes some time. Here is a typical insurance settlement timeline:

• You seek medical attention after being injured in an accident.
• You contact a St. Louis personal injury lawyer.
• Your lawyer investigates the accident and sends a demand for payment to the insurance company.
• Your lawyer negotiates with the insurance company.
• If the insurance company offers a settlement and you accept it, they will write a settlement check. If not, your lawyer files a lawsuit and represents you in court.

Even after your lawyer files a lawsuit, the case can still be settled until the court issues a verdict.

How Are Settlement Funds Calculated in Missouri?

How does your lawyer decide how much to ask the insurance company for? Your lawyer will add up all your economic losses, such as medical expenses and lost wages, and then assign a dollar amount to your pain, suffering, and other noneconomic losses. Medical bills, pay stubs, and other receipts and documents may be used to substantiate your past economic losses. In some cases, it may be necessary to consult with financial experts, medical experts, or vocational experts to establish your future costs and anticipated losses.

What Happens After a Settlement Is Reached?

After your lawyer successfully negotiates a settlement agreement, the insurance company will write a check payable to you and your lawyer. Your lawyer will then cover all necessary expenses and fees before writing you a check. The expenses could include:

• Your medical bills
• Any liens against the settlement
• Case expenses
• The attorney’s fees

Because personal injury attorneys usually work on a contingency basis, they will deduct their fee from your settlement. You’ll pay nothing upfront and nothing directly out of your pocket. You will receive the balance of the settlement amount and will owe nothing further to your attorney.

Attorney’s Role in the Settlement Check Process

What is your attorney's role in the settlement check process? Your attorney:

• Negotiates a settlement
• Receives the settlement check from the insurance company
• Uses the funds to cover your expenses
• Writes you a check for the remainder of the settlement

Delayed settlement payments can occur because of the following:

• Delays in the insurance company’s bureaucracy
• The need to negotiate a payoff on one of your liens
• A problem with the settlement agreement

If there is a delay, your lawyer will resolve it as soon as possible.

Get Help from Our St. Louis Personal Injury Attorneys

When your health and future are on the line, then winning means everything. Sumner Law Group LLC has more than 50 years of combined legal experience. We are ready to help you pursue a settlement check that provides full compensation for your injuries. Contact Sumner Law Group, LLC, today for a free claim review.