What To Expect During A Car Accident Settlement
Being involved in a car accident is one of the most harrowing experiences that a person will ever find themselves in, and once you’ve reached a settlement or received a favorable judgement, it can feel like your long nightmare is over. However, what most people might not know is that winning your compensation can sometimes be just the beginning, with you still having to fight to receive the payment that you’ve rightly earned. Discover what to expect after your Nashville car accident and find out why you might need a car accident attorney to help you get your conversation.
How long Will Everything take?
After reaching a settlement agreement with the defendant in your case, your primary concern is most likely centered around how long it will take to receive payment. Almost all settlement agreements have a built in time frame that lays out how long the defendant has to pay your damages. Typically, the so-called payment period is around a month. Unfortunately, not every defendant meets this deadline, causing you to wait longer than you should to receive your just compensation. If the defendant in your case has not paid you during the agreed upon time frame, then they may be subject to penalties built into your settlement agreement.
Penalties included in settlement agreements are meant to incentivize the defendant to pay you your settlement, most commonly coming in the form of interest added to the compensation amount. However, when writing your settlement agreement, you should be sure to add a provision that allows you to re-file your case if the defendant refuses to make a payment on time.
When no settlement agreement is reached in a car accident case, your suit will move on to trial, which is usually a much more drawn out process. After winning your case, you may have to wait an even longer period to receive your payment. The reason for this is that all defendants in personal injury lawsuits have the right to either appeal their case or request a new trial. If either of these petitions are granted, it can extend the amount of time you have to wait for your settlement by weeks and months. However, if you win your case and an appeal is denied, then you will likely receive your payment relatively quickly, usually within two weeks; although it can sometimes be as much as two months, depending on the terms of your judgment.
Talk to a Car Accident Attorney
Following your car accident case, you’re likely anxious to receive the settlement that you have rightly won. Even though most settlements are paid out in a timely manner, it is possible that yours will be delayed unfairly, whether due to an unwilling defendant or legal entanglements. If you believe your payment is being withheld unjustly after a Nashville car accident, then you need to consult with a qualified car accident lawyer from Mitch Grissim & Associates. Our legal team can help get you the payment you need and deserve in the time period you have agreed to. Learn more about our services and find out how we can help in your car accident case.