St. Paul Personal Injury Attorneys at Swor & Gatto
When you suffer a personal injury, the impact can be greater than you expect. Some good news? Filing a personal injury claim with the help of an experienced personal injury lawyer can help significantly. Personal injury settlements can help you obtain the finances you need for the losses and problems you have experienced after the accident, especially when it was due to someone else’s negligence.
How Are Personal Injury Settlements Handled?
There are many myths and misconceptions about personal injury law, personal injury claims, and personal injury settlements. One of the biggest misconceptions is that every personal injury claim will result in a lawsuit being filed and handled in court. However, most personal injury disputes occur outside of court through the personal injury settlement process.
For a settlement to be reached, there needs to be an agreement over the amount you will receive for the injuries you sustained. The insurance company representing the at-fault party will be responsible for paying the money.
For example, if you are injured in aย slip-and-fall accident, the settlement could be paid out by the responsible party’s insurance company. If you are injured in a car accident, the money will be paid to you by the insurance company of the driver. The responsible party could still be liable for damages that exceed the policy limits of their insurance plan.
You may think that agreeing to a settlement offer from an insurance company will be the end of your claim. However, the next step will be waiting for your settlement check to arrive and find the best way to distribute it accordingly to handle your expenses. Knowing how personal injury settlements work and how they are generally paid out can help you prepare for the upcoming days and weeks.
Types of Personal Injury Settlements
Compensation for personal injuries can be paid out in multiple payments or via a lump sum payment. How you receive your settlement will be up to you. A lump sum payment will mean you will get your entire settlement upfront. If you want to make sure you do not receive spend the entirety of your settlement, receiving your settlement in multiple payments may be a better option. Once an agreement has been reached, the terms cannot be altered. An experiencedย personal injury lawyerย will help you understand whether the terms that have been offered to you are fair.
Who Can Receive Money From Your Compensation?
After the personal injury claim has been settled, your case will be over. If you realize your condition is worse than you initially thought, you will not be able to reopen your personal injury claim. The settlement check you receive will show how much was agreed upon. However, there will be no indication of how much was paid to you for the different expenses you have incurred, such as medical and lost wages.
If you owe anyone any amount of money, you will be able to pay them using your personal injury settlement check. If the insurance policy was not large enough to produce a sizable settlement check, any unpaid medical expenses can take a significant piece of your settlement amount. After you have paid medical bills, legal fees, and other expenses, you will be left with the remainder of the settlement amount to cover current and future expenses.
Atย Swor & Gatto,ย we have extensive experience dealing with a variety of personal injury cases, including car accidents, workplace accidents, medical negligence, hit-and-run accidents, and more. We are here to help you recover damages and guide you through the difficulties of the legal system to ensure you receive a fair settlement.
Call us today atย 651-454-3600ย for your free case evaluation.