Brian White | September 20, 2022 | Personal Injury
Have you suffered irreparable harm because of an accident that wasn’t your fault? Are you curious about the claim process for seeking compensation? Do you wonder about the process for obtaining a settlement check? We are here to help. In this article, we’ll explain what a settlement is and the process of receiving one.
Understanding the Settlement Process
A settlement is an agreement that ends a conflict and causes any associated lawsuit to be voluntarily dismissed. It might take place in the early phases of a lawsuit or, in some circumstances, even before the injured party files one. Instead of going to trial, settlements are more common when the defendant and the plaintiff agree to the plaintiff’s personal injury claims.
In regard to an accident settlement, a settlement is typically granted by the insurance company. If you’re unable to receive a settlement with the insurance company, you may have to file a lawsuit to obtain compensation for the damages sustained.
What Is the Process of Receiving a Settlement Check in Houston?
If you were involved in a car accident in Texas, you might be unsure how to file a claim. The initial step is to contact the insurance company and file a complaint. If you receive a settlement that is not fair, you can negotiate for a higher settlement, or you can hire a personal injury attorney who is familiar with Texas’s settlement procedure. They will then negotiate or litigate on your behalf so that you receive the compensation you need.
After you’ve reached a settlement, there are certain things you’ll need to do before you receive a settlement check. Processing your check involves certain steps:
- If you receive the settlement from the insurance company after you file a claim, you merely have to sign a release form and wait for your check to be disbursed. If you and the insurance company aren’t able to reach an agreement, you’ll have to go to court. In some instances, parties reach a settlement agreement before the trial begins. In this instance, the attorneys will notify the court of the agreement, and a settlement order will be disbursed. Generally, both parties must file all required documents within 30 or 60 days of this order.
The insurance company or the defendant’s attorney typically creates a release form. It clearly identifies all the settlement’s terms and circumstances. In general, release agreements say that the person receiving the payment won’t seek more money from the party responsible for their injury.
When you receive the release, carefully read it, and ask your lawyer to check it for potential issues. Then, you sign the document in the presence of a notary public, certifying that your signature is on it and that the terms of the agreement are precise as written. You will not be able to alter the terms after signing, continue the negotiation, or take other legal action in relation to the incident.
- The release is then sent to the insurance company and the plaintiff’s lawyer. The at-fault party’s insurance company often covers the settlement sum. When this insurance company receives your release, it must process it and immediately write the settlement check as required by law.
- The company will often make this check payable to both you and your lawyer. Your lawyer will deposit the lawsuit settlement check into an escrow account as soon as it gets to their office. This ensures it has enough money on hand to pay the check and stays that way while the bank processes the payment.
How Long Can a Lawyer Hold Your Settlement Check?
Your lawyer may hold your settlement check until any outstanding liens are paid. It could take a few weeks for the process to be completed. The actual time varies on the number of liens. If there are no pending liens, you will receive your settlement check. There are certain factors that can delay your settlement check. They are as follows:
- Disagreements within the release form.
- The agreement was not fully executed, and the parties didn’t sign it.
- There are time delays in the processing of the check.
- The paperwork was not sent in a timely manner.
- The supervisor who must approve your agreement is not available.
- Clerical mistakes (incorrect names, check sent to the wrong address, etc.).
The exact timeframe will depend on the facts of your situation.
A Personal Injury Lawyer Can Help
You can receive a settlement check during the initial claim process, during negotiations, or during the litigation process. Although it is possible that you may be awarded a check without an attorney, you sometimes need to seek legal counsel.
Experienced personal injury lawyers can negotiate with insurance companies on your behalf. Additionally, they can help you prepare for trial if you need help ensuring that the settlement check process runs smoothly. Most personal injury attorneys offer a free consultation as well, so it won’t hurt to reach out.
Contact the Houston Personal Injury Lawyers at Attorney Brian White Personal Injury Lawyers For Help
Attorney Brian White Personal Injury Lawyers
3120 Southwest Freeway, Suite 350
Houston, TX 77098
Attorney Brian White Personal Injury Lawyers – East Fwy
11811 East Fwy, Suite 630-06
Houston, TX 77029
Attorney Brian White Personal Injury Lawyers – South Loop
2600 S Loop W, Suite 293
Houston, TX 77054