How Long Does It Take to Get a Settlement for a Car Accident Injury?
Timeframe for getting a settlement for a car accident injury in Wisconsin
A settlement allows you and the other party to avoid going to court. Settlements are often favored for their faster resolution and better terms; they allow the defendant to avoid having an official judgment on their record, and in many cases, the settlement terms allow defendants to avoid admitting guilt. For the plaintiff in these cases, settlements bring relatively quick compensation, but the process of finalizing and paying out a settlement still requires time.
After a car accident, you may find that your insurance and the other party’s insurance either can’t or won’t pay out enough money. Filing a lawsuit is often the only way to get the amount of financial compensation you really need. However, insurance companies and other named parties may not want to spend a lot of time on a lawsuit, either because it could become very expensive for them or because they fear a judgment. In those cases, they may offer a settlement.
Settlements are most likely to occur after the “discovery” phase of the trial (also called the pre-trial hearing). During the discovery phase, both sides can see the evidence, and if your case is particularly strong, the other side may decide to just offer a settlement to end the process. However, settlements can be offered at any time.
Settlements can be accepted, rejected, or negotiated, and you need to let your lawyer do the talking. You’ll get a say in whether to go ahead and negotiate, but let your lawyer handle the details. Your current medical condition, the additional compensation you’re asking for (e.g., emotional distress), and your potential ability to earn money in the future all come into play. Negotiations may be rapid or slow. However, once an amount has been finalized, the money can be transferred within a few weeks.
If you’re facing recovery time from a personal injury and haven’t been able to get the right amount of compensation, speak with Eisenberg Law Offices at (608) 256-8356. You may be able to get a settlement and ease your financial situation quickly.