The Settlement Process: What Happens Once an Agreement is Reached?
Prior to receiving a settlement check, there are a few things that you should be aware of regarding the process. Before any funds are dispersed, your Orange County personal injury attorney should inform you that you will be required to sign what is known as a release in order to officially settle your claim. This release states that you agree to surrender your right to sue any person or entity that may have been responsible for the injuries that you suffered. Once the insurance company receives the signed document, your funds will be released to your attorney.
It is from these funds that your lawyer will be expected to pay off various items that may be outstanding at the time, such as any unpaid medical bills, attorneys’ fees, out-of-pocket expenses and any other claim-related costs. Further, if any other insurance companies have covered expenses on your behalf, such as an auto insurance company or a health insurance company, those entities will have to be reimbursed as well. After all such deductions for the aforementioned items have been made, it is then that your Orange County personal injury attorney will give you the balance via a check that is processed by his or her office.
Considering the time that it will take for you to sign documents, get the check and determine the exact amount of money that each interested party is entitled to, the entire settlement process typically takes anywhere from two to six weeks, although there are always exceptions.