Various factors determine the amount of time that any claimant should have to wait, before receiving, in the form of a check, the promised compensation package.
For claimants that have a lawyer, the insurance company sends the check to the lawyer.
That injury lawyer in Barrie uses a part of the check to cover the costs. Another part serves as the lawyer’s contingency fee. The remaining money gets handed to the client/claimant in the form of a new check.
In the terms of some settlement, it could be stated that the insurance company must pay some interest for each day that it has delayed providing the claimant with his or her anticipated check. Yet some insurance companies get around such terms by saying that the check had been requested by the designated date, but that it had taken an extra-long time to process it.
The type of case that had been resolved would influence the amount of time that must pass before the check’s delivery.
—Following the settlement for a car accident case, the check should reach the lawyer’s office in within a week or two.
—It takes longer for all the issues to be resolved, following a medical malpractice case. Hence, the check for the former patient would not reach the lawyer’s office quite as fast as one that was supposed to compensate an accident victim.
Certain other details, related to the circumstances surrounding a case could work to determine the length of time that a claimant must wait for a promised check’s arrival.
In a medical malpractice case, if the injured patient had been a minor, then the court would have to approve the settlement, before it could be finalized.
Another provision in medical malpractice cases calls for approval from the sue physician, regarding the terms of the settlement. Without that approval, the court will refuse to finalize the settlement.
Details on the source of the money used for paying the plaintiff could affect the amount of time that must pass, before those same funds would get into the plaintiff’s hands, and bank account.
If that money were coming from an estate, then the person that had the right to oversee distribution of the estate-owner’s assets would work with the court, in an effort to assign the proper amount of funds to the settlement package.
If the defendant needed to pay off any liens, then that transaction would have to be completed, before some portion of the remaining money could be sent to the plaintiff. The legal system has been set up to guarantee a delay, if it had become apparent that such liens/debts had yet to be satisfied, at the time when the check should go to the plaintiff.