When you or a loved one is struggling amid mounting medical bills and expenses, a common question you may be wondering is: when will I get compensation?
While the civil process isn’t instantaneous, it does work fairly efficiently. However, many factors can affect how your case goes through the settlement process. So, in this guide, we’ll be discussing the process by which you will receive your settlement and what can potentially slow down your case.
And if you need more advice, never hesitate to contact our team at Warhawk Legal for your free, no-obligation case review and consultation. In this appointment, we’ll answer your questions and be able to help establish a timeline of when you could expect payment from your personal injury case.
How Compensation In A Personal Injury Case Settlement Is Managed
When you, your Oklahoma City personal injury lawyer and the insurance company reach the best settlement for your case, a settlement agreement must be drafted. All parties involved in the claim must sign the agreement before the check is created.
After the signing of the agreement, the insurance company will cut a check, which will be sent to your legal team. This check will be deposited into an escrow account. Your lawyer will then deduct the costs of your case from the account (which includes your legal team’s fee) as well as any case expenses or medical liens.
When your Oklahoma City accident attorney has paid all the necessary expenses from this account, then the remainder of the escrow account’s balance will be paid to you. The settlement and escrow process typically takes around six weeks from when the settlement is signed by all parties to the check being deposited into your account.
What Can Delay Getting Compensation In A Personal Injury Case?
Settlement proceedings can take much longer than six weeks, but it’s typically not your fault or the fault of your attorneys. Here’s some reasons why you’re not seeing a check as soon as you’d like.
- You haven’t hit maximum medical improvement (MMI): MMI is the state in which your condition cannot be further improved, no matter how much medical treatment you receive. Knowing your MMI means you know what to request in damages to support you the rest of your life. You don’t want to file a case too soon and underestimate what you’ll need to live a happy and fulfilled life.
- Your case is complex. While some cases only involve one negligent individual or organization with crystal clear liability, not all cases are this simple. Some cases, like medical malpractice, can be exceptionally complex. Your lawyer needs to argue all the details thoroughly with no surprises from the insurance company or opposing counsel
- The insurance company is delaying purposefully. This is a common insurance tactic can be used to incentivize you to take a lower amount just so you can move on with your life. Don’t fall for this trick.
- Negotiations are falling through. The process of negotiating the final dollar amount is understandably a complex ordeal.
Get The Help You Need Quickly With Warhawk Legal
We know how stressful this process can be. We try to make it as straightforward as possible so you can collect the compensation you need to thrive. Call us at (405) 397-1717 for your free case review.