If you have filed an Oklahoma City personal injury claim to recover damages, you must know how your settlement amount is determined and how your funds will be paid.
At Warhawk Legal, we work hard to recover maximum client compensation. We also help ensure that your settlement payout is handled fairly and that you receive your funds as quickly as possible.
How Is My Settlement Amount Determined?
Your settlement amount is based on the value of your claim. Your lawyer determines the fair value of your claim including ensuring all current and future expenses and losses incurred because of your injuries are included.
In a personal injury settlement, you should be able to recover economic and non-economic damages. Economic damages include:
- Current and future medical expenses
- Current and future lost wages
- Property damages
- Other expenses incurred because of your injuries
Non-economic damages include:
- Pain and suffering
- Mental and emotional distress
- Loss of enjoyment of life
- Other intangible losses
At Warhawk Legal, we often work with medical experts and economists to help accurately determine the costs of future medical expenses and lost income to ensure your claim is fairly valued.
How Are Attorney Fees Calculated?
Most personal injury attorneys take cases on a contingency fee basis where you pay nothing until compensation is recovered.
You and your attorney will enter into a contract at the beginning of your professional relationship that states the percentage of compensation your attorney will receive from your settlement or award as their attorney fees.
When your settlement amount is determined and agreed upon, your attorney will receive a specific agreed-upon percentage of the full settlement amount.
What Are Case Expenses and Fees?
In addition to deducting the agreed-upon percentage for attorney fees, litigation expenses are deducted from your settlement.
All lawsuits involve expenses initially paid by the attorney, who will be reimbursed when compensation is recovered. These expenses include court filing fees, deposition expenses, expert witness fees, and other expenses incurred while pursuing your Oklahoma City accident claim.
Do I Have To Reimburse My Insurance Company for Paying My Medical Expenses?
After an accident, your medical expenses may be paid by your insurance company, the at-fault party’s insurance company, a Medicaid or Medicare program, or other means. The entity paying for your medical expenses has the right to be repaid when compensation is recovered.
For this reason, these medical expenses were considered when determining your settlement amount.
Insurance companies may issue a medical lien if not reimbursed from your settlement amount. A medical lien gives them the right to pursue reimbursement against you. A medical provider may also pursue you for unpaid medical expenses if they are not paid from your settlement amount.
We may be able to negotiate a lower amount to release the liens and pay off your medical expenses.
When Will I Receive My Compensation?
The time it takes to settle your case depends on numerous factors. At Warhawk Legal, we work hard to negotiate a fair settlement and get you paid as quickly as possible.
You may receive your compensation in one lump sum or in installments. An installment plan is often called a structured settlement.
There are pros and cons to each type of payout. At Warhawk Legal, we can help you consider your options and make the best decision for you and your family.
How Can an Attorney Help?
An experienced OKC personal injury attorney can help you get maximum compensation and keep more of your settlement in your pocket. Some ways an attorney can help include:
- Most personal injury attorneys are excellent negotiators who can reach a fair settlement of your claim as quickly as possible.
- An experienced personal injury attorney knows how to ensure all expenses and losses are included and accurately valued to maximize your compensation. Often, personal injury attorneys consult with medical experts and economists to accurately determine your future medical expenses and loss of income.
- Many personal injury settlements involve liens placed on your settlement by healthcare providers for unpaid expenses and by insurance companies seeking reimbursement for costs they have paid. A good personal injury attorney can negotiate with lienholders to help lower the amount they will accept to satisfy their lien.
- A personal injury attorney can help you consider the options of receiving a lump sum or structured settlement and advise you of the pros and cons of each so you can make the best decision based on your and your family’s needs.