Winning a lawsuit for personal injury, medical malpractice, defective devices, or other claims can be a significant relief.
However, after being awarded compensation, your next question is likely about when you’ll receive your settlement check. There are often pressing bills and living expenses that need attention. So, how can you track your settlement check? Here’s what to expect after your award.
What Happens After a Settlement is Awarded?
Once you’ve been awarded a settlement, the funds are intended to cover your medical treatment, lost wages, and related expenses. Depending on your case, you may need to attend court to finalize the judgment, or your attorney may negotiate a settlement on your behalf. Keep in mind that the settlement check may take up to six weeks to issue, even in the absence of delays.
Signing the Release
After a judgment or settlement, you'll need to sign a release form along with other necessary documents. This release will be sent to you within a few days of the judgment and serves to release the defendant from any further legal claims regarding the case. It’s crucial to carefully read this document, preferably with guidance from an experienced personal injury attorney, to ensure your interests are protected. If you feel any changes are needed, don’t hesitate to discuss them before signing. Both parties must sign the release for the process to advance.
Typically, you have 30 to 60 days to sign and return the release. If there are disagreements, it may require judicial intervention, potentially extending the timeline for receiving your settlement check.
Paying Liens and Medical Bills
Your attorney will wait for the settlement check to clear before moving forward. This can take up to ten business days. They will also address any claims against the settlement, including their legal fees and any medical or other liens. If there are outstanding debts, the attorney will hold the check until these are resolved.
Once all obligations have been settled, your law firm will issue a check for the remaining funds, which will be mailed to your designated address.
Tracking Your Settlement Check
Now that you understand the process, you can better navigate tracking your settlement check. If you haven’t received any forms after reaching a settlement agreement, reach out to your attorney for updates.
Waiting on Release Forms: If changes were requested and you haven't heard back, follow up with the insurance company or the defendant's attorney. They are legally required to handle these matters promptly.
Waiting on Release of Liens: Regularly check in with your attorney about the status of any liens and payments to creditors. The remaining funds cannot be released until all debts are cleared, which can take time. Failure to address these payments may have legal implications.
If you're worried about managing medical bills and living expenses during this waiting period, consider applying for a pre-settlement cash advance. This can help alleviate financial strain while your settlement is processed.
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PrimeCare Network provides pre-settlement funding, also known as consumer litigation funding, tailored to various state regulations and types of legal claims. Some clients may receive funding through a purchase agreement that assigns a portion of their pending legal claim proceeds, while others, particularly in South Carolina and Colorado, may receive a pre-settlement loan, sometimes referred to as a lawsuit loan. It's essential to understand the differences between these transactions, so please review the details carefully before proceeding with any funding agreement.
