How Long Does It Take To Get a Personal Injury Settlement Check in Fort Walton Beach?
Paul Brannon | April 18, 2023 | Personal Injury
It can take months or more than a year to settle a personal injury case in Fort Walton Beach. The facts and circumstances in the case determine how long it takes to reach a settlement with the insurance company.
However, once you agree in writing to settle an insurance claim, Florida insurance law requires the insurance company to tender payment within 20 days. Tendering payment could require you to sign a mutually agreeable release between you and the insurance company.
If the insurance company does not tender a timely payment, the settlement amount could earn interest at a rate of 12 percent. Interest does not begin to accrue until you sign a release, assuming the settlement is conditioned upon a signed release.
In most cases, the majority of the time you spend waiting on a settlement check is spent waiting for your case to settle. However, many factors impact the settlement timeline for a personal injury claim in Fort Walton Beach.
How Long Will It Take To Get a Settlement Check for My Personal Injury Case in Fort Walton Beach, FL?
A simple personal injury case that does not involve severe injuries or disputes regarding liability could settle within a few months after you complete medical treatment. However, various factors could lengthen the time it takes to reach a settlement, including but not limited to the following:
- The need for extended medical treatment or rehabilitative therapy
- Sustaining catastrophic injuries, permanent impairments, or disabilities
- Disputes related to the cause of your injury and the parties liable for your damages
- Cases involving government entities, trucking companies, defective products, and multiple parties
- The wrongful death of a family member
- Allegations of contributory fault and failure to mitigate damages
- The types of damages you sustained
Some insurance companies are easier to deal with and more willing to negotiate in good faith to reach fair settlements. Therefore, working with one of those insurance companies can speed up the settlement process.
However, most insurance companies are more interested in saving money than paying fair settlements, which complicates cases and lengthens the time it takes to receive a personal injury settlement check.
What Happens After I Sign a Settlement Agreement for My Personal Injury Case?
In many cases, parties do not receive a settlement check immediately after signing the settlement agreement. Your Fort Walton Beach personal injury lawyer has several steps to take before releasing the funds to you.
Waiting for the Check To Clear
The attorney deposits the check into their trust account. Then, they must wait for the check to clear before releasing funds, which could take several days. Direct deposit of settlement funds can speed up this step in the process.
Payment of Medical Liens and Subrogation Claims
If you owe medical bills or your health insurance company paid any of your medical costs, your attorney must resolve these claims before releasing any funds to you. Experienced Fort Walton Beach personal injury attorneys work to reduce the amount that must be paid to settle medical liens and subrogation costs. Being patient and allowing your lawyer to negotiate settlements can result in more money in your pocket.
Deduction of Costs and Attorney’s Fees
Once your lawyer pays outstanding medical bills and liens, the attorney deducts their contingency fee from the proceeds. The law firm also receives reimbursement for any costs the firm paid during your case.
Receipt of Your Personal Injury Settlement Check
Then, your attorney issues a check to you for the net amount of your personal injury settlement. Finalizing a personal injury settlement could take a week to six weeks. Call your lawyer to ask about the delay if you do not receive a personal injury settlement check within six to eight weeks of signing the settlement agreement.
Can I Speed Up the Process of Receiving a Personal Injury Settlement Check for an Accident Case in Fort Walton Beach?
Unfortunately, many factors impacting the personal injury settlement timeline are not subject to control. For example, you cannot force yourself to heal faster from your injuries. However, following your doctor’s treatment plan can avoid problems that could delay recovery.
Likewise, you cannot control how fast an insurance company investigates your claim. That said, following your lawyer’s advice prevents you from making mistakes that could delay the settlement.
The key is to remain patient. Your attorney will diligently work to get you money for your personal injury claim as quickly as possible. However, you do not want your lawyer to sacrifice any amount of your damages by rushing to a settlement.
Contact Our Personal Injury Law Firm in Northwest Florida
We have two convenient locations in Northwest Florida:
Brannon & Brannon Personal Injury Attorneys – Destin Office
4507 Furling Ln Suite 214
Destin, FL 32541
Brannon & Brannon Personal Injury Attorneys – Fort Walton Beach Office
975 Mar Walt Dr
Fort Walton Beach, FL 32547