So, we’ve managed to settle your personal injury case. Now you want to know what’s next. More importantly, you want to know when you’ll see money in your pocket. That’s a great question, and exactly why we’ve provided you this video. Take time to watch, and below are some quick points.
The Settlement Release.
Before we receive your settlement funds, you’ll be required to sign a release from the insurance company (or companies). Generally, the release will specify the amount of settlement, that you are waiving further claims against the defendant, and that you agree to pay any outstanding medical bills and health insurance liens owed from your case. The release will likely also include a statement that the settlement is not an admission of guilt on the defendant’s part.
Some releases also include other provisions such as “indemnity” and “confidentiality” clauses, which James discusses in this video. Make sure to watch for his thoughts.
Your Settlement Check.
Once you’ve endorsed the settlement release, and we’ve provided it to the insurance company, they will send us (Abrenio Law) the settlement check. We will then deposit it in our IOLTA Trust Account. This is a separate bank account where the money sits until we’ve both agreed as to how the funds should be disbursed.
Our Internal Release and Settlement Statement.
At Abrenio Law, before we move a single dollar from our Trust Account, we send you a “Complete Settlement Package” that includes our Internal Release and Settlement Statement. In it, you’ll see a clear breakdown of where the settlement funds will be going in your case. This includes the following:
- Our Attorneys Fees
- Our Cost Reimbursement for Litigation Costs
- Amounts to pay outstanding medical bills (if applicable)
- Health insurance reimbursement payment (if applicable)
- Your share of the settlement funds.
We will send out this Settlement Package (usually) through your Secure Client Portal for you to review and approve. Once we’ve clarified everything is correct, you will sign and return our Internal Release.
When do you get your check? (And how?)
Every case is different, and there can be unique circumstances in your case. However, in general, we typically are able to provide you your settlement funds in three weeks. Again, this time can differ depending on the details of your case, and we will discuss your case specifically
Often times, we prefer our clients to come in and pick up their checks. However, we can arrange to mail it to you. However, we are always concerned about checks getting lost. So, just be aware of those risks.
Still have questions?
Make sure to give us a call at Ph. 703-570-4180 or shoot James an email at email@example.com.