Having to wait for a settlement can be a difficult process, particularly when the settlement is over a situation that saw you lose out on income. This is particularly common in situations that involve a personal injury claim, where you have settled out of court for a sum of money but in the meantime are still unable to earn a living. In order to better illuminate you on the whole process of waiting for the settlement check, we have prepared a guide to help walk you through it and understand the process more thoroughly.
Explaining how bills are covered during the wait for your settlement check
Because the very nature of the wait can be so limiting, and potentially dangerous if you lack an income due to the event leading to the settlement, it is important to have a way to get more money. Whether it’s money to afford your rent or mortgage payments, money for food, money for utility costs, what have you, it is all very important. It may be a nice thought — why not just wish all of that away? Sadly, it just does not work like that in reality, and we have to operate under those conditions and deal with the problems that reality presents us.
In the event that you can show that the settlement is on its way, it is possible for you to request either that you be allowed to skip a month or two, or that you can get an advance on this until the settlement check arrives, at which point you will compensate whoever allowed you to delay payments. One question is obviously going to persist, however; how long is the settlement even going to take? Some settlements can be handled quickly, while others seemingly drag their feet forever in getting to you.
Barring some pretty significant extenuating circumstances however, the likelihood that you are going to wait too long to get your check is not very high. Indeed, in a normal process, your check should arrive no later than six weeks from the date of the agreement. One major factor in determining whether a settlement will be quick or slow is going to be based on how much the damages are.
For example, a settlement in the millions is going to see the insurance agents dotting their ‘i’s and crossing their ‘t’s at every point, such that they do not make any mistake. They are going to want to be hyper meticulous about your settlement and the payout to ensure that you are getting no more than you are entitled to. They are a business, after all.
In the case of a personal injury, you are also going to have to deal with medical bills, which can be downright crippling at the best of times for many people, let alone if you lack the income to continue paying them like you once had. Health insurance will often cover the medical bills for you if it is available, though not everyone is fortunate enough to be insured or, even if they are, they are not fortunate enough for the insurance to deem what happened as being covered under the plan details.
When you do go to the hospital to have whatever injuries you sustained dealt with, be sure that you or a trusted representative (be it a family member or a close friend with access to that information) get your insurance information to the hospital as soon as humanly possible, just to minimize the chances of any medical cost headaches being induced. You may also have to pay repair bills for your car in the meantime. Ultimately, while a settlement likely may be designed to cover any damages that you incurred as a result of the defendant’s alleged negligence, until the settlement is finalized, that is still your responsibility, and any past payments you may have made to any bills related to damages from the incident should be a part of what the defendant should pay out to you.
Be mindful of anyone telling you that your medical insurance does not apply in this situation, as this is simply not true unless the insurance of the other person involved, or you are being covered through workers’ compensation.
One of the best ways to ensure that your settlement arrives quickly and that you are not harmed to any significant degree by whatever wait time there is to procure the services of trustworthy attorneys such as those at Hanna Law Firm. When dealing with this situation, it can be downright stressful, even if you do know who to pursue and what to ask for. And if you do not know this kind of stuff and still insist on going about it on your own? Well, good luck with that. It won’t be an easy ride, that’s for sure. An attorney brings knowledge, experience, and stability that someone dealing with an injury and lost income just cannot afford to lack. While it may seem cheaper in the long run, a good attorney helps keep you and your interests protected, which is invaluable.