Receiving a Long Island Truck Accident Settlement
Generally, people receive Long Island truck accident settlements within a month. However, there are certain scenarios that can delay the process. A well-versed attorney can explain the settlement process and help you make sure you receive your compensation in a timely manner.
Length of Time to Receive a Truck Accident Settlement
The general length of time it takes to receive a settlement is set by the law in New York. From the time the attorney sends out the settlement papers, the other party has 21 days to send out the check and for the injured person to receive it. However, there are exceptions to that law. For example, municipalities usually have 90 to 120 days.
There are some steps that someone could take to ensure they receive their settlement in a timely manner. They should always stay informed of when a case officially settles and follow what timeframe applies. They then should check to make sure they get the check within the projected timeframe. An attorney can help a person make sure they are informed throughout the process.
Issues that Could Delay the Process
The issues a person might encounter when negotiating a settlement range from issues with the adjuster they are talking to issues involving the insurance company or the defendant’s attorney not cooperating. For example, someone could have a lien on their case from Medicare or Medicaid which could weigh on the person’s settlement. If the client settled the case for $50,000, get $33,000, but has a Medicare lien for $7,000, they are getting $26,000. Those types of issues could affect settlement negotiations.
These issues could also possibly delay someone receiving their settlement. Once a case is settled and the money comes to the attorney, the only delay would be if there is money that has to be paid out to these lienholders. The only other case where there is a delay is when dealing with an injured person who is under 18 because the settlement must be approved by a jury. When this happens, it may take three to four months for a jury to approve a settlement and end a case.
What Else to Know About Settling a Claim in Long Island
People should be aware that once they settle a case, it is over. They cannot bring another lawsuit. Also, it is important to remember that when someone settles a case, it could affect other areas of their life. For example, once someone who is on public assistance or on Medicaid gets a settlement, they are not going to be eligible for public funds or Medicaid anymore. Most people understand it, however, it is important for a lawyer to be able to go through it with the injured person so they understand how the settlement will affect them.
Learn More About the Process of Receiving a Long Island Truck Accident Settlement
There are laws that guide the settlement process. However, certain issues can result in delays in receiving a Long Island truck accident settlement. To discuss receiving your settlement, call today for a consultation.