How Personal Injury Settlements Work
Explore the personal injury settlement process and learn what to expect. Uncover key insights to navigate your claim successfully!
According to The Law Dictionary, over 90% of pending injury settlement lawsuits are resolved before going to court. Understanding the process can provide insight into avoiding court and working with the legal system.
BDIW (Boettcher, Devinney, Ingle, Wicker) Law is a reputable team serving Oklahoma in numerous cities. Getting help navigating legal settlements will allow you a chance to focus on recovery and rest. Our team is available 24/7 to answer your questions, but we follow a common procedure.
Keep reading to learn about the personal injury settlement process and discover how our team at BDIW can help!
What Are Personal Injury Settlements?
Personal injury claims can be tricky to file and navigate in the courts. By learning about settlement negotiations, you can maximize injury claims and recover.
The goal os a personal injury settlement is to agree with two parties, after one has suffered from an injury. Typically, the at-fault party is the cause of injury from negligence. Often, the at-fault party agrees to compensate the injured party to avoid additional setbacks.
Here are a few reasons people consider opening personal injury cases:
- Vehicle accidents
- Slip and falls
- Work accidents
- Wrongful death
Working with a personal injury lawyer means you can come out of these situations with less debt and worries. At BDIW, you can expect big results, regardless of the size of your claim. Our experienced attorneys can fight for your personal injury settlement claim so that you can prioritize rest.
How Are They Structured?
Personal injury settlement cases can be structured in one of two ways. Our attorneys can help you choose between structured settlements and lump-sum settlements.
With structured settlements, you can expect to recieve payments over a specified time. An annuity will be provided to you periodically, which can help pay medical bills. Consider your current circumstances and financial needs to identify if this is a suitable option.
The other way personal injury settlement compensation can be structured is with one payment. Lump-sum settlements involve receiving a one-time payment, which gives you access to the most funds the fastest. This can be useful if you’re dealing with lost wages or growing medical bills.
Our Team Is Here To Assist You Every Step Of The Way.
SPEAK TO AN ATTORNEY TODAYFollow This Process For a Successful Claim
According to the Bureau of Labor Statistics, more than 2.5 million employers reported injury or illness cases in 2023. With so many claims going to the courts, you must understand how they work.
Small errors or a lack of information will impact any compensation you hope to recieve from your claim. Many people discover these errors after it’s too late, and they get stuck with higher medical bills.
BDIW Law can help ensure your claim is successful when it reaches the judge, so that you can prioritize health. Take a look below to find out what to expect with our attorneys!
Select a Local Personal Injury Lawyer
Fighting for personal injury compensation isn’t always easy. A simple document error or difficulty proving causation could result in a failed case and fewer resources.
Our attorneys are well-versed in employment and employee laws. If you were injured on the job, we can help you recover lost wages and prepare for the next steps. Personal injuries that go beyond the workplace can also be dealt with by our reputable team.
Working with a local attorney is essential, as they understand the local processes and regulations. By looking at our referrals, you can discover how our legal team and extensive resources can contribute to your recovery! BDIW works with out-of-state law firms, but prioritizing locality will help with your claim.
Begin Negotiations
The negotiation period is the most critical part of personal injury settlements. This is the point at which both parties agree upon a number for fair compensation.
These factors typically influence negotiations:
- Past and future medical expenses
- Lost wages
- Pain and discomfort
- Property damage
Since our attorneys have dealt with many types of personal injury claims, we are confident in tackling negotiations. Regardless of the circumstances, our team can defend your case and fight for compensation. The negotiation period tends to be the most time-consuming but when done correctly, it can be the most rewarding.
Consider Your Options
Aside from choosing how you want to recieve your compensation, you must also decide on the course of your claim. Most often, compensation agreements are made to avoid court and legal fees.
If you aren’t satisfied with the compensation or are getting pushback, our attorneys can represent you in court. This gives you a chance to get compensated for medical expenses and lost wages due to the injury.
Hiring a personal injury attorney will make a significant impact on your claim. Here’s why it matters that you find a knowledgeable and available legal team, such as BDIW.
Finalize the Agreement
After reviewing options and discussing them with our attorney, you can confidently approach your case. According to the NIH, avoiding court can prevent mental health from deteriorating and offer peace of mind.
Once the settlement agreement is finalized and filed, payment can be processed. You will receive your money in a lump-sum payment or structured payments over time, based on your selection. It often helps to look at all of your expenses at once to determine the impact the injury has had.
When a settlement is closed, it typically can’t be reopened. Our attorneys can help ensure that you are satisfied with the terms in the agreement. Not only do these details help you pay for medical expenses, but they also prepare you for returning to work and moving forward.
Prepare for Personal Injury Settlement Compensation
After suffering an injury, going to work and paying bills may become a challenge. If you got injured because of another person’s negligence, our team can help you fight for what you deserve.
At BDIW, you can expect premium representation with endless resources. Our experience makes it possible to navigate complex claims for clients so they recieve the best possible outcome. If you need help with your personal injury settlement, having the right team by your side is essential.
For help on your road to recovery, contact our team for a free case consultation!
