Written by Keith V. Trantolo
Negotiating a Settlement Offer
After you have healed from you injuries and we know the extent of the damage you’ve suffered, we will inform the insurance company of the compensation we seek in a settlement package.
Submitting the Settlement Package
After we submit your settlement package, it takes the insurance company several weeks to review it. The insurance company will typically make a counter offer. We will review the counter offer first. If your attorney feels it is reasonable, we will contact you to discuss the offer. Rest assured that we will hold a very thorough discussion of the offer and all of your concerns will be addressed before we settle your claim. We will never settle unless you are satisfied!
If the insurance company does not make a reasonable offer, we will discuss whether or not to file a lawsuit.
Accepting a Settlement
To accept a settlement, you sign a Release of Claim form and the insurance company sends us a check made payable to you and our firm, usually within 30 days. You must sign the check and the funds will be deposited in the firm’s Clients’ Fund Account. This is a standard process.
While waiting for the check, we will contact all parties (doctors, therapists, etc.) who have been waiting for payment to negotiate a reduction of fees where possible and obtain the final balances. Again, this can take time. When the figures are in, settlement closing is scheduled. At the closing, you will receive your check and a financial statement showing how the rest of the funds have been disbursed.
> Continue to Filing a Lawsuit
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