A settlement is a significant step forward when it comes to getting compensation for a personal injury, but it isn't the end of your financial concerns. The settlement may seem nice--especially if it's for a significant amount of money--but it may not represent your best interests if you look closely enough.
Don't sign anything until you're able to assess the benefits in the settlement carefully against your life's needs. Consider a few negotiation points first and contact a personal injury attorney.
What's Wrong With Cash Settlements?
Cash settlements may feel like a lottery to many personal injury recipients. It's a large sum of money, and even though you may be suffering in order to receive the payment, the damage is already done. Unfortunately, the money may be a deceptive amount that isn't as good as you think.
Even if the amount of money is large, such as hundreds of thousands of dollars as compared to a five-figure salary, you need to think about the costs associated with your injuries. Is the injury settlement for cash only, or will your legal opponent handle medical bills in addition to handing over the money. If you're getting just money, your compensation may disappear quickly.
Blood tests, operations and continuing therapy can easily go through a few hundred thousand dollars. If you're lucky, you may have a few thousand left after the initial treatment and recovery efforts. Unfortunately, you may have continuing pain and other complications for the rest of your life. Your legal opponent should be able to pay off responsibility with a one-time payment.
Services May Be Better In Some Cases
Instead of taking a cash-only settlement, consider negotiating for specific services.
For medical care, negotiate with your legal opponent for a yearly medical review service. Instead of having your legal opponent pay a certain amount of money, the medical inspection team can examine your injuries and weigh them against your medical needs. Financial professionals and a personal injury lawyer can help afterwards by creating an analysis of the year's financial needs.
Your opponent only pays what is necessary and you get the care you need. It's fair and honest, and with a neutral medical inspection team you have a better chance of getting quality treatment that isn't pulled by the legal system.
If you're having issues at work and need to find another job, negotiate for educational service as well. Your legal opponent can acquire educational programs such as job training, certification programs or even college attendance for you to find a new career that earns a reasonable living for your needs.
Your legal opponent doesn't necessarily have to pay out of pocket for the educational expenses; with the help of a grant writer or scholarship professional, many different education opportunities can be found that can get you into school without giving your legal opponent the full bill for college tuition.
Contact a personal injury lawyer to begin planning your settlement negotiation plan.Share
26 March 2015
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