After months of preparation and waiting, you finally have cause for celebration. You may have managed to settle out of court, or you may have had your case decided by a court, but there is no mistaking that you will soon see the fruits of your efforts to be fairly compensated. But there might be a few extra steps to keep in consideration. Read on to learn more about happens after you win your case.
Where Does the Money to Pay You Come From?
The target of your personal injury claim must have the resources to pay any damages. Your attorney very likely investigated the at-fault party to ensure that they either had adequate insurance coverage or other assets, such as real estate holdings or bank accounts that could be used to pay a judgment if you win your case.
Offer to Settle
The best case scenario in most personal injury cases is a generous offer to settle out of court. Not only do these offers help both parties avoid costly and time-consuming court cases, but the award will often be paid quicker than with court-awarded judgments. These settlement agreements usually contain language that requires payment be made within a specified period of time. Often the payment deadline binder details that payment be made within a certain period of time, or interest will begin accruing.
Court Judgment Awarded
If you have already had to sit through a trial, you will be doubly eager to collect your judgment. Insurance companies are usually given several weeks to pay the award, but this can vary with the type of case, location and amount of judgment. If the other party had no insurance, there are several methods of recouping damages, including wage garnishment and bank account levies. When the court places a levy on a bank account, the balance is essentially frozen until the the judgment is paid.
The losing side has the right to file an appeal, whether it's the plaintiff (you) or the defendant (the party being sued). When the losing party appeals, they must have a valid reason, such as a procedural error during the the trial or the judge not allowing certain evidence to be admitted. The appeal is always heard at a court of a higher level than the original trial.
In most instances, you will receive the compensation that you have been awarded in a timely manner, but it's helpful to know that in cases where the defendant doesn't pay, you have options. Discuss this more in depth with a personal injury attorney, such as those at Littman & Babiarz Law Office, so that you can know what to expect after you've successfully won your case.Share
10 May 2016
Although many people don't think of having legal counsel as improving their life, I have found that it has really helped me to feel empowered as a business owner. Without my lawyer, it was really difficult to figure out what I could say and what I couldn't say, and it really made things hard when I was out and about trying to make business deals. Fortunately, after I found the right lawyer, things became a lot more straightforward. This blog is all about improving your life and streamlining your business with the help of a great lawyer. After all, you never know when you will find yourself in court.