It can be very stressful having to wait for an insurance company settlement when bill collectors are calling and child support payments have gone into arrears. If the injured person doesn’t have any savings built up, losing the house or being evicted may even be a terrifying possibility. Although the insurer may have offered a settlement, it’s important not to accept one until medical treatment has been completed. This is what a car accident lawyer strongly recommends to clients.
If a settlement is accepted too early, the injured person cannot demand more money later. They may have been able to pay the immediate bills with that compensation, but medical invoices may continue to arrive. The individual’s own health insurance may pick up the tab for most of the expenses, but there may be a deductible and co-pay up to a certain dollar amount. In addition, if the injured person still needs time off from work, that means continuing to live without that income. For these reasons, a car accident lawyer encourages clients to wait.
The injured individual may really hate the idea of getting a personal loan from a bank, a financial institution, relatives or friends; nevertheless, this may be the only sensible solution in a case like this. The accident victim can pay the money back when a settlement is agreed upon after the doctor verifies maximum medical improvement. That means the medical professional believes the person will not experience any further improvement in the conditions caused by the accident. The individual may feel completely well again, or may have to accept a certain level of chronic pain or other problem. The settlement should address those issues and provide reasonable compensation for them.
A firm such as Edwards & Bullard Law determines the amount of financial payment that is suitable for the future ongoing problems and asks for that amount from the insurer. If the insurance company does not comply, an attorney will prepare to bring the case to court. Nearly always, personal injury cases are settled outside of court, however. That is good news for the person who wants to get everything resolved as soon as possible.
