Weeks, Months, or Years? How Long Does It Take to Get a Settlement Check?
The personal injury law industry in the United States is currently worth an estimated $36.9 billion.
There are a number of reasons why it’s so valuable. One of them is the frequency with which personal injuries occur; however, just as important a part of the story are the complications that can come with these cases.
It can often take weeks or even months to get your money after a successful case. For individuals or families struggling financially, this is an impossible situation to end up in.
So, how long does it take to get a settlement check? Read on to find out, and learn what you can do to expedite the process.
How Long Does It Take to Get a Settlement Check?
There is a number of factors that can affect how long it will take you to receive a settlement check. We’ve looked at a couple of the most significant here.
Release Form
This is the first part of any settlement recovery process. As a plaintiff, when you take a successful case against a defendant, you’ll have to sign a release form which guarantees you won’t pursue any further legal action in respect of the incident.
Generally speaking, no insurance company will release any settlement funds until they have this document. If you still want to pursue related elements of the claim after you get a settlement for an initial part, you’ll have to specify this very clearly on the form.
Defendant Processes
The way in which the defendant manages their payments may end up being of relevance. Some states are quite forgiving in this regard; in Florida, however, insurers must pay an agreed settlement within 20 days of the agreement.
How to Expedite the Process
There are a few things you can do to ensure you don’t delay the arrival of your check any more than necessary.
Firstly, once it starts looking likely that your suit will be successful, you should have your lawyer draft a release form. This means you can submit it immediately once your claim is confirmed.
You should also make sure any child support payments you owe are paid, as a court may prevent you from claiming compensation otherwise.
If you’re waiting for a settlement in Florida and you’re worried about paying your bills in the meantime, you should consider using Florida Settlement Funding.
Getting the Settlement You Need, When You Need It
So, how long does it take to get a settlement check? As you can now see, there is no simple answer to this question.
If your case is a straightforward one and you don’t encounter any resistance from the defendant or their insurance company, you could have your money in a couple of weeks. However, if you do find yourself in a trickier situation, you could be waiting a few months to receive payment.
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