Personal Injury Cases: How Settling Can Be the Best Financial Option
A personal injury results in a legal case that can become very expensive and complicated. Whether you are the plaintiff or defendant, you want to reduce any further damages to your pocketbook.
One solution is to settle out of court instead of appear in front of a judge. There are several reasons why a settlement is ideal to handle your personal injury case.
Settlements Are High
Depending on the nature of your case, your settlement could be high and exceed your expectations. A settlement is a mutual compromise that both parties must agree with.
Most people do not settle until both parties agree to the same amount. During the process, you are allowed to work with a mediator to resolve any conflicts.
Another option is to hire a personal injury lawyer for assistance. Some people think that working with a lawyer is not necessary to settle.
However, a settlement is a legal matter that is similar to signing a business contract. The outcome is more successful when it’s handled by a legal provider like the Alexander Law Group.
Time
You have heard the phrase that time is money. That is exactly the case when it comes to prolonging your lawsuit without settling. The longer you wait, the more money it will cost you.
These costs can include any number of things from lawyer fees, to courtroom fees, and much more. The sooner you can come to a reasonable settlement, the better it will be on your personal finances in the long run.
You also likely have other expenses that you need to take care of in the process.
Avoid Courtroom Appearances
Showing up in court is a psychological and financial hassle. Settle your case to avoid making multiple courtroom appearances. A settlement is done behind the scenes, so there’s no reason to appear in court.
A typical courtroom case may require you to appear in court on a dozen different occurrences. The first fee that you pay is to file the case. Most people travel long distances to show up in courtrooms and pay fees for parking, gas and transportation.
Avoid Regular Lawyer Fees
Appearing in court regularly means paying large amounts of legal fees. Some lawyers allow you to pay later, but others charge expensive fees upfront. The average hourly rate for some lawyers vary from $100 to $1,000, depending on their experience.
A settlement requires that you pay a contingency fee, which is usually 30% percent of the amount or higher. You pay only what you win in restitution, which is paid by the defendant. Overall, save a lot money by not paying any fees out of pocket.
Other Bills
If you have suffered a personal injury, chances are you have other bills that you have to worry about. If your injury is serious enough to keep you from working, then your monthly bills are going to start adding up.
If you are pursuing a lawsuit, you are going to be dedicating some money that would otherwise go toward savings or your living situation. You also likely will have medical bills to pay for.
Therefore, the sooner you can settle your case, as well as get the settlement you need and deserve, you will be able to focus on keeping your bills paid as you recover.
Few people want to go through the court system for months, so they have access to a few alternatives. One is a settlement that allows you to settle your case as quickly and painlessly as possible.
Consider this option and avoid making your personal injury case more difficult than it already is.
Category: Health
