A settlement check is a settlement for an accident or loss that includes personal injuries and damages. There may be other paperwork that you will have to sign with the other party before your settlement check is released, but you will be able to cash it easily. A settlement check is still just like any other type of check you typically cash in a bank or deposit into a bank account. You may want to put your settlement check into a special account, whereby you are less likely to spend it, as it is probably meant to last you several years to go towards future medical bills and expenses related to your accident.
A settlement will be made for a personal injury in stages, and it may take many months or years before a final settlement is made. It is highly unlikely you will bring your claim to the negligent party, only to be handed a wad of cash for your troubles. That is why it is important to hire a personal injury attorney to help you navigate the process and help you to recover the maximum compensation for your injury.
You may feel overwhelmed during these moments, but attorney Ali Awad, the CEO lawyer, is here to stand up for your legal rights. Don’t accept lowball offers, and don’t take insurers at face value. Arm yourself with the legal representation you need to get a fair shake at the settlement you deserve. Call the injury and accident attorneys at the CEO Lawyer Personal Injury Law Firm for a no-obligation consultation of your case at (833) 254-2923.
What is a settlement?
When you have been personally injured by another party, that person or business is responsible for your losses and damages. There are rules to determining negligence, and your attorney will review the specifics of your case with you. Your attorney will help you determine the cause of your personal injury and whether or not the at-fault party breached a duty of care that resulted in harm to you.
Your attorney will help you to piece together each aspect of your case, determine the strong and weak areas of your claim, and decide if it is worth it to begin a lawsuit to get you back to being whole again. Settlements can help you begin the process of healing and becoming whole again after an accident or personal injury. The settlement is an attempt by the at-fault party to repay the party injured for their troubles.
How are Settlements Determined?
Settlements are determined by a court of law, or by negotiation, as to the value of the loss or personal injury, and how much the at-fault party is willing to pay you to recompense you for your injuries. The settlement will be determined by your attorney and the attorney of the at-fault party, usually after several rounds of negotiation. More than likely, you will be settling with the insurance company of the person or business who caused you the personal injury.
Economic and Non-Economic Damages
Personal injury settlements are classified into two categories. The first refers to economic damages. These refer to damages that are economic in nature and can be proven with documentation, such as invoices, estimates, assessments, and other types of financial statements. Economic damages include medical bills, loss of income or capacity to earn income, and property damages.
However, non-economic losses factor often factor into personal injury settlements. These types of damages refer to pain and suffering, emotional distress, or inconvenience. These are more difficult to recover because these damages cannot be proven with financial statements. Personal injury attorneys work to determine the severity of these damages and quantify the amount of compensation a victim is entitled to after an accident.
Cashing Out Your Settlement Check
Settlement checks can often be written for large sums of money, and you may not be sure what to do first. Cashing out your settlement check is always an option. The only time you cannot cash a settlement check is if you try to cash someone else’s settlement check or are attempting to cash a check that does not belong to you or is not made out to you.
For example, if you are given a settlement check, your spouse, live-in girlfriend, or parents will not be able to cash that check for you, or instead of you. If you are deceased, the person in charge of the estate will be able to cash a check in your name, but that is the only reason someone other than you would be able to cash a check for you. You will cash a check the same way you cash any other check.
There may be some finer distinctions regarding the best course of action to take in the settlement of your case. That is when you need to talk to an attorney. If you have been injured in an accident and have personal injuries, you need to call our law office to talk to our attorneys. We will get you the settlement that you need to reimburse you for your medical bills, lost wages, and other damages after an accident.
CEO Lawyer – Winning Atlanta Personal Injury Law Firm
We are here for you and know what to do to get you the money you deserve in this type of situation related to cashing a settlement check. CEO Lawyer injury and accident attorneys are an Atlanta personal injury law firm that knows how to win your case for the most money possible. Just call us at (833) 254-2923. We are ready to help you get back the money that you deserve when you are personally injured in these kinds of cases. Call us today for a free consultation.