Advantages to settling out of court?
There is a case for not settling out of court. Sometimes the offers you get are not fair at all. Though most personal injury lawsuits do settle out of court, sometimes your best choice is to fight for proper compensation. It may mean you get more. But there are advantages to settlements as well.
6 Reasons You May Want to Settle
- You Lower Your Lawyer Fee
Your personal injury lawyer will get his or her cut only if you win (if you hire a lawyer who has a "no win, no fee" philosophy). But, if you settle out of court, lawyer fees go down. It makes sense: your lawyer spends less time in court, less time making a case, less time preparing, and therefore his or her costs go down. You can expect about 25% of your settlement to go to your lawyer. If you go to court, it can be higher, at about 35%.
- You May Get More
If you settle, there is a chance you'll get more money than if you go to court. The judge may decide for you, but not give you the amount of compensation you wanted. And since your lawyer fees will go down, you stand to save some money there. If you feel the settlement offer is too low, consult with your lawyer in order to make the decision. The point is not to always avoid going to court, but to get more compensation.
- You Save Time
If you go to court, the case can take years. If you settle, you may get a lump sum or monthly payments in matter of months. If you are in a a tough financial situation, settling may provide the money needed. On the other hand, you may be able to get much more if you go to court.
- Proper Medical Coverage
If you're getting huge medical bills, settling before court can protect you financially. Medical costs for major injuries can cost you tens of thousands of dollars. If you need specialized medical attention, a settlement may help you pay for it;.
- You Get Future Financial Protection
If you cannot work ever again, you deserve a high settlement offer. Even if you only miss some work, say a few months, it can hit your pocket book. Or if you have continued medical problems, that too can hurt you financially. Whether you settle out of court or go to court and win, both protect your future.
- You Can Move On
If you want to avoid lengthy court battles, medical bills you can't pay coming in the mail, and a lot of headaches, settling allows you to move on from this accident. If you were hurt and someone else is at fault, it need not be a long process. If you simply want to move on instead of fighting court battles for months if not years, a settlement is smart.