New York City Personal Injury Law Blog

Types of Settlements in a Personal Injury Case

Posted on Oct 20, 2017 in Personal Injury, Personal Injury FAQs

According to statistics, 942,219 people in the United States were killed, and 26,594,887 were injured, as a result of traffic accidents in 2016. With car accident cases on the rise every year across the US, it is no surprise that the number of personal injury lawsuits is increasing each year.

Apart from traffic accidents, slip and fall accidents, burns and fires, defective products, swimming pool accidents/drownings, workplace accidents, dog bites, etc. are some of the most common causes of personal injury cases.

Formal Settlement vs. Informal Settlement

When it comes to personal injury lawsuits, the timeline can move at a slower pace than you might expect. The rules in civil court trials are more lenient pertaining to the right to a speedy trial as the United States Constitution states. Additionally, civil court is largely ruled by the judges’ decisions rather than the writing of statutes into law. When it comes to settlement in personal injury cases, the two most common forms are formal and informal settlements.

Formal settlements: After a lawsuit’s entire timeline has occurred, including a complete trial, the case comes to a formal settlement. During a trial, each party is brought before a judge to present their case. After deliberation, the judge determines who wins the case as well as the amount of damages that will be awarded to either party, if any.

There are several reasons that you might prefer a formal settlement for a personal injury case, including seeking restitution of a large sum, exposing the actions of a company to the public and in some cases, accepting a remedy that is more than money.

Informal settlements: In the vast majority of personal injury lawsuits, the case is resolved by an informal settlement. This means that both parties negotiate and reach an agreement before the case goes to trial.

In some cases, an informal settlement can ever occur before the injured party can file a personal injury lawsuit against the at-fault party. Legal professionals accept these agreements only after consulting their clients and getting an approval.

Why Personal Injury Cases Take Long

In some personal injury cases, the outcome suffers due to the negligence of another party. Additionally, many people who file such claims give up as the idea of battling large companies becomes too overwhelming and time-consuming. Personal injury cases tend to take long as both parties need to thoroughly investigate the accident and find evidence to defend their claims.

No Excuse for Negligent Driving

If you or a loved one has been injured due to the negligence or carelessness of another person, you should immediately seek the help of a fantastic and reliable personal injury lawyer at Rosenberg, Minc, Falkoff, & Wolff of RMFW Law.

Such cases can be complex and require the knowledge and expertise that a legal counselor can provide. With the help of one of our personal injury lawyers, you can make sure that every step of the lawsuit process is done properly and that your rights are protected. With legal expertise, your lawyer will ensure that you obtain the compensation you deserve for your injuries as well as other damages. Call us at 212 697 9280.

We have won millions of dollars for past clients. You too can be on this list. You just need to call us. If we have to visit you because you are unable to visit our office, no problem. We know how this game is played and we know how to blast holes through the opposition’s case.

Do not sign anything with anyone. Do not sign any paper work with the insurance company. They are not on your side. They are not looking out for your best interests. Who cares if they offer you $18,000 on the spot to settle this case? Your case could be worth much more; does that $18,000 cover missed time at work and the medical costs? It does not. It only covers car replacement for example. Your case could be worth $72,000, for instance.

This has cost you much more than just a car. You do not even know the extent of your medical injuries yet. Call RMFW Law now – we know this type of work.

Comments

I Chose The Right Attorney - “Attentive, Professional and Know About the Law…”

I referred Rosenberg, Minc, Falkoff & Wolff to a friend needing help with a birth injury & medical malpractice case. Having worked with founding partner Daniel Minc myself on a car accident case, I was sure they would be able to deliver results.

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