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Personal injury settlements should be carefully considered

On Behalf of | May 15, 2018 | Family Law |

Personal injury cases sometimes result in going through a trial, but this isn’t the only way that they can be resolved. Sometimes, the lawsuit is handled through the settlement process.

There are many benefits and some drawbacks to this type of resolution. If you are considering a settlement, you should be sure that you are aware of the following points. They might help you to decide whether you want to proceed.

Speed of resolution

To decide if a settlement is worth pursuing, consider the speed at which the case is likely going to be resolved. Typically, a settlement is faster, which also means less expense. This is because you don’t have to prepare the case for trial and wait for the trial date to come up. This could mean that you have some financial stability sooner than later since you will be able to get some or all of your creditors taken care of.

Removing uncertainty

When you are able to work out a settlement, you have some control over the outcome of the case. This can benefit you since you won’t have to guess what a jury might do. Some people find this preferable if they have medical bills and other financial concerns because it allows them to make a plan for the money. It also takes away the worry that they will walk away with nothing.

More privacy

A settlement is usually a more private option. This is a good thing, but it could also be a bad point. Some people seek compensation after a crash with the hope that they will get a public acceptance of responsibility from the defendant. In a settlement, this isn’t likely going to happen because there are usually confidentiality agreements and clauses that don’t require the defendant to admit fault.

One big question to ask yourself

If you are entertaining a settlement, you shouldn’t accept it just because you think that you have to for the sake of getting everything over with. Instead, you need to ask yourself if the terms of the deal are beneficial. Does the monetary amount cover your past, current and future expenses for the injury you suffered? Be sure that you factor in the contingency fees when you are thinking about this aspect of the settlement. Are you willing to not have the defendant admit fault? How do you feel about your responsibilities?