What Happens After You Agree to a Settlement?

What Happens After You Agree to a Settlement?

After you agree to a settlement in a Georgia personal injury case, that’s not the end of your case. A few more steps still need to take place before you receive the compensation you agreed upon. However, you can generally expect to receive your money within two weeks of the agreement.

Signing the Settlement Agreement

After agreeing to a settlement offer, the first step is to sign the physical settlement agreement. Depending on the specifics of the case, this document can include various terms, but the most common elements included are:

• The amount of compensation the at-fault party agrees to pay the plaintiff
• The dismissal of the plaintiff’s lawsuit against the at-fault party
• The payment plan requested by the plaintiff (either a lump sum or structured settlement)
• Any confidentiality clauses if the at-fault party doesn’t want the plaintiff to reveal the terms of the settlement
• Other terms specific to the case

Signing the Release of Liability

The release of liability document is another essential piece of paperwork you will have to sign alongside the settlement agreement. Sometimes, the release may be contained within the settlement agreement.

While the agreement may stipulate that you dismiss the pending lawsuit against the defendant, the release of liability document releases the defendant from future lawsuits relating to the same accident. This means that you can’t sue the defendant again for the same injury. You can’t dismiss your lawsuit and then file a new one. And if your injury worsens, you can’t sue the defendant again to recover more compensation.

In some cases, this document may even bar you from filing lawsuits for different injuries or claims in the future. It’s important to review this document closely with your lawyer.

Paying Fees and Medical Liens

After you sign the settlement agreement and the release of liability waiver, the defendant or their insurance company will pay the money to your attorney. Your attorney will then take their previously agreed-upon fee out of this amount.

Along with the fees your attorney takes, they’ll usually pay any outstanding medical liens related to the case. For example, healthcare providers may have issued liens against you, so they’ll get paid from your settlement before you receive the remainder.

Receiving Your Compensation

Finally, you’ll receive the remaining compensation. You may have additional medical or property damage bills to pay with this money. Or it could be in place of your lost wages. Either way, once you receive the compensation from your attorney, it’s yours.

If you opted for a structured payment plan instead of a lump sum, you’ll receive payments based on the amount and schedule you agreed to. A structured payment plan can be a good idea if you’re worried about spending your lump sum too quickly.

Contact an Atlanta, Georgia, Personal Injury Lawyer

Were you injured by someone else’s negligence or misconduct in Atlanta, Georgia? If so, contact Kaufman Injury Law for a free consultation with an experienced personal injury lawyer. We’ll review your case, explain your legal options, and help you work toward a settlement or trial award that covers all your injury expenses.