After winning a personal injury case, car accident victims zealously await their compensation. However, most of them end up being disappointed after not seeing the check in the mail after a few weeks.
Even if you have a good Austin Personal Injury Attorney, it will take some time for you to receive the money. Most checks in Austin will arrive after about six weeks.
Understanding the settlement process is the best answer to the question, “how long does it take to get a settlement check from a car accident?” The knowledge will help car accident victims remain patient while awaiting compensation.
Once a settlement agreement is reached with an insurance company for your case, their attorneys will compile several release documents. The nature of the release forms will depend on the nature of your case. They will be simple if our case was simple and they will be excruciatingly detailed if your case was complex.
It may take some time for the lawyers to agree to the terms of the settlement, especially for complicated cases. The victim will then review the settlement agreement and release forms and sign them.
Release of Funds
The insurance company will receive the release forms as soon as the victim signs them. They will then proceed to issue a settlement check.
The insurance company will often address the check to you and your lawyer. On the other hand, this process is not always as seamless as it should be. Certain factors may affect the speed of the process including internal errors.
If the check takes too long to arrive, however, you should ask your lawyer to find out what is going on.
Your Lawyer Settles Unpaid Bills
Once your lawyer gets the check from the insurance company, he/she will deposit it into an escrow account. It is not your attorney’s choice as they are required to do so by the State Bar of Texas.
Your attorney will typically use the money to pay several bills that were acquired during the settlement process such as unpaid medical bills and child support payments. It is important to settle such bills to avoid devastating penalties.
You should discuss how the above bills are connected to your settlement in one of your appointments.
Legal Fees Deduction
After your lawyers have settled any unpaid fees, they will deduct the legal fees from the remaining balance as per your agreement (attorney-client contract). It will typically be a percentage of the victim’s settlement.
Legal costs and fees vary depending on factors affecting the nature of your case including hiring expert witnesses, acquiring documents for evidence and court reporting charges. Your lawyer should also give you a detailed invoice of your legal costs.
After you have an agreement, your lawyer should send the remaining funds to your account. Remember, settlements can get extra delays so if it happens, it is best to remain patient and communicate with your lawyer.
Special agreements such as partial payments can be made or compensations. Agreements, where compensation is offered in a series of payments, is called a structured settlement and happen occasionally.
Call Robert L. Buford as soon as possible if you are looking for a car accident lawyer in Austin. His reputation is only preceded by his results.