Factors Affecting Length of Wait When Settlement Payment Expected

Any claimant that expects such a payment should know the nature of the event that takes place at the start of the waiting period. It is not the announcement that a settlement has been reached by the appropriate negotiators, or that a judgement has been handed down by a judge. The waiting period starts when the claimant signs a release form.

Who gets released from what, after that form gets signed?

The person signing the form releases his or her right to pursue any further legal actions against the insurance company. The form comes from the same insurance company. The Personal Injury Lawyer in Orillia for the person granted the award should explain the process that will be used for the form’s delivery. Some insurance companies mail their forms, and then ask that the signed paper be mailed back to them.

What happens after an insurance company gets a signed form?

Then designated employees in that same company start to process the check. Different insurers process their checks at different rates. Consequently, a lawyer cannot predict the length of the wait that will develop, once a client has been granted a settlement or a judgement. Understand that the processed checks do not get mailed directly to a given lawyer’s client. Instead, each of them gets addressed to a specific client’s injury lawyer.

What happens after the lawyer gets the check?

The lawyer’s first task entails making certain of the check’s ability to clear. The next task could entail speaking with those that might have put a lien against a claimant’s financial recovery. The time spent carrying out that task can lengthen the wait of the person that expects to be getting the promised award.

Still, if you hope to receive some money, and someone has a lien against a portion of that money, you should not object to the wait. While you are waiting, your lawyer will be trying to negotiate a reduction in the size of the stated lien.

Next the injury lawyer takes his or her scheduled percentage from the money that has been awarded to a given client. It could be that you are that waiting client. If so, then a new check gets issued to you, one that is minus the injury lawyer’s fee.

One step a client can take, in order to be sure that all runs smoothly

Lawyers will issue that new check to a client that goes by a certain name. That particular name might be a nick name, and not the one that is on the client’s ID. Smart clients anticipate the chances that such a problem could arise. Hence, those same clients take steps to keep such a problem from impeding their access to the promised money.