At long last, the day has finally arrived. The day you’ve dreamed about. The day you and your attorney fought so hard to secure. Your case has settled!

Now that the smoke has cleared and negotiations are behind you, there’s probably one question on your mind: “So when do I actually get my money?”

In this blog we’ll walk through the closing stages of a personal injury case and explain the final formalities one must go through in order to obtain their long awaited settlement check.

Settlement

A lawsuit is like a miniature war. You and your attorney put everything on the line. Settling on a number you’re happy with is a reason for relief! All of your hard fought battles have finally paid off.

So, what actually happens once you settle? For starters, the opposing attorneys will draft a Release of Claims (also called a release form). This document formally ends your case. It outlines the agreed-upon payment terms and officially releases the at-fault party and their insurer from any further liability.

After you sign the release, it’s sent to the insurance company that you settled with. Once received by them, we usually expect a check to arrive 45 to 60 days thereafter.

Trust Accounts

Now that the insurer has received your signed release form, it’s time for the good part – your check.

Within 45 to 60 days of receiving the release form, a settlement check should make its way to your attorney’s office. Once received by your attorney, they are legally obligated to deposit the check into a trust account. Your settlement funds will remain in this account until they clear (usually about 7-10 business days).

Liens, Bills, and Other Fees

Now that the settlement check is in your attorney’s possession, the only thing left to do is divide up the settlement funds and make sure everyone is paid. Although you’re close to the finish line, this step requires some major attention to detail and can take longer than you might realize.

Your attorney’s first order of business will be paying off any outstanding liens held by medical providers or health insurance companies. A lien is a legal claim for part of your settlement money. It helps ensure that anyone who helped cover the cost of medical treatment upfront gets reimbursed once your case is resolved.

Liens are often negotiable and are not always paid in full. It’s important to be patient during this time and know that no one is purposely withholding money from you. Your attorney is working diligently behind the scenes, trying to reduce the amount that gets disbursed to anyone besides you.

Once liens and other various court fees get paid, your attorney will take their contingency fee (⅓ of the settlement funds after the costs of the case are deducted).

The Finish Line

Release form – signed. Liens and contingency fee – paid. Next step – your check.

You did it. After weeks of waiting around and wondering if you’d see the day, it’s finally here. Your attorney will set up a time for you to come in and receive your final settlement check.

This is a tremendous relief and took a degree of patience you probably weren’t even aware you possessed. This is a milestone for anyone who suffered a personal injury and is most certainly a day to be anticipated!

Get David Get Paid

If you were injured in an accident and need help on your path towards compensation, look no further than Femminineo Law.

The team here at Femminineo Law will fight tirelessly for you! Whether it’s a car crash, dog bite, or slip and fall, our attorneys have the experience and know-how to get you results!

Give us a call at 855-65-CRASH today and experience the passion and care we treat every single one of our cases with.

Get David. Get Paid.