How are Car Accident Injury Settlements Paid Out in California?

If you’ve won your personal injury case, you’ll receive compensation from the liable party. An experienced car accident attorney will negotiate a reasonable settlement amount on your behalf. Once negotiations are finished, you’ll need to select which way you would like your settlement to be paid. Personal injury settlements, such as car accidents, are paid out in various ways, depending on the specific circumstances of your case and the agreement reached between both parties. But before a settlement can be offered, there are specific steps you’ll need to follow.

Steps to Receiving a Car Accident Injury Settlement in California

The outcome of each case varies widely depending on the circumstances. The specific details of each case will determine whether a settlement can be reached, but there are standard processes each personal injury case must adhere to in order for a settlement to be paid out. These steps are as follows:

1. Signing the release form: once a settlement proposal is made, an attorney will go over the details with you. If you approve, then the attorney will prepare a release form. This release form releases the defendant from any future liability in exchange for a specific sum of money. Both parties will sign this form, legally confirming the agreed-upon amount and that no one can sue for more money in the future.
2. The insurance company issues a check: the insurance company must pay the agreed amount and issue a check within 30 days from the day both parties have signed the release form.
3. The personal injury lawyer deposits the settlement check: an attorney will deposit the settlement check into IOLTA (Interest on Lawyers’ Trust Accounts). This account holds your money while the case is awaiting a final conclusion. The funds in this account will be used to pay for any outstanding medical bills, liens, and other expenses related to your case.
4. Medical bills and other debt negotiations: you will not be able to receive any compensation until your medical bills are paid. A personal injury attorney will negotiate your medical treatment with the medical providers to ensure you’ve received adequate care while also getting the compensation you deserve from the settlement. Medical bills are usually taken into account when discussing a fair settlement. This is so the injured party will not have their entire settlement spent on medical bills alone.
5. You receive your settlement: an attorney will provide you with a written invoice, detailing the settlement amount minus liens and legal fees such as attorney’s fees and contingency fees. Once you sign off on the invoice, you promptly receive your settlement check in the mail.

When Can I Receive My Settlement Payment for a Car Accident in California?

After your car accident claim has been settled, you will typically receive your settlement payment within about 6 week’s time after the liable party has received your release form. However, depending on the circumstances, certain issues can delay your settlement payment. These delays include:

• Bank holidays and banking delays
• Weekends
• Medical lien negotiations
• Subrogation payments to Medicare, Medicaid, or other programs that assisted with your medical expenses will have a legal right to a portion of the settlement.
• Wrongful death claims can also be delayed as a judge is required to approve the settlement

The Advantage of Legal Representation for a Good Car Accident Injury Settlement in California

It is a proven fact that personal injury victims were much more likely to receive a fair payout than those who dealt directly with the insurance company without representation. Also, victims with representation have been found to receive twice as much in compensation as those who proceeded unrepresented, even after attorney’s fees.

Legal representation offers several advantages if you’ve been injured in a car accident. By partnering with an attorney after an accident, they can:

• Identify All Liable Parties: car accidents typically involve multiple cars. An accident attorney will investigate all responsible parties and file a personal injury lawsuit against them, maximizing your chance at full, financial recovery.
• Manage your claim with the insurance companies: insurance companies can and will attempt to get injured victims to agree to a “lowball” settlement, or get you to admit fault. Having your attorney file a lawsuit against the insurance company will let them know you’re aware of your rights and are prepared to exercise them to achieve fair compensation.
• Follow Proper Legal Procedures: An experienced vehicle accident attorney understands the complexities of suing liable parties and the specific legal rules that must be followed. Having your lawsuit properly filed and the details of your situation perfectly outlined for the insurance adjuster will let the defense know you are aware of your rights and are prepared to exercise them.
• Prepare for Litigation: An attorney will expedite the litigation process if no acceptable offer is made. They will prepare you for trial, handle all legal proceedings, and represent you in court.
• Allow you to focus on Recovery: Hiring a well-practiced attorney will allow you to recover, while they deal with the legal side of your case for you. Not only will this give you a better chance at compensation, but it will alleviate your stress and give you peace of mind while dealing with a very traumatic time in your life.

Contact a Car Accident Lawyer in California

If you or a loved one has been injured in a car accident in California, our skilled team of accident attorneys at Maison Law will seek the maximum amount of compensation for your damages. Car accidents are complicated and traumatic situations that no one deserves to manage alone. For expert legal counsel, contact Maison Law today for a free consultation and case evaluation. We don’t charge our clients upfront, and you will not pay a cent until we’ve won your case.