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5 Questions You May Have Regarding Your Personal Injury Settlement

After suffering severe injuries and damages in a car accident, you have to deal with the financial consequences. It can be challenging to provide for your family and pay off your debts/bills during your recovery period. However, the good news is that a personal injury settlement will alleviate any financial burden you incur.

 

Right now, you’re likely unsure about the process of obtaining compensation. That’s why our personal injury attorneys in San Diego want to review the questions we often receive when assisting clients and provide you with the answers. This should help clear things up and make it easier for you to take action against anyone responsible for your injuries.

 

Question #1 – What is the average personal injury settlement amount?

The truth is that personal injury settlements can vary significantly in terms of monetary amounts. It’s difficult to say precisely what the average is, so you should evaluate your own case. Here are the factors that‘ll affect the compensation you can recover:

 

  • Damage to personal property
  • Medical bills and related expenses
  • Lost wages
  • Suffering and emotional distress
  • Permanent disability or disfigurement

 

Ultimately, the severity of your injuries and the extent of the damages will determine your settlement amount. Yes, some victims recover millions of dollars; however, we advise that you don’t set your expectations too high. Instead, focus on maximizing the value of your claim.

 

Question #2 – How do personal injury settlements work?

An accident victim has the right to pursue legal action against any at-fault parties responsible for their injuries. This begins with filing a personal injury claim to collect financial compensation. The two sides will then negotiate the settlement amount before reaching an agreement. Keep in mind that most personal injury claims don’t go to court.

 

Question #3 – How long do personal injury settlements take to obtain?

The time it takes to obtain a settlement can also vary significantly. Many cases get resolved immediately (within the first few months), but several factors can prolong the process. For example, the type of payout you choose or specific insurance policies can delay everything. The big thing to remember is that patience will pay off in the long run.

 

Question #4 – What is a structured personal injury settlement payout?

With a personal injury settlement, you have multiple payout structures. The structured payout schedule is very appealing because it allows people to receive payments at regular intervals. You can also specify to your lawyer exactly how you want to receive those payouts in terms of amount and frequency.

 

Question #5 – What is a lump sum payout for a personal injury settlement?

This is the exact opposite of a structured payout. You’ll receive your entire personal injury settlement all at once, which allows you to determine how you want to spend and distribute the funds right away. However, large sums of money could jeopardize your long-term financial security. We always advise that you carefully consider your payout options.

 

Contact Our Attorneys to Learn About a Personal Injury Settlement

Are you wondering if you have a strong enough case to pursue a personal injury claim? Perhaps you have more questions about a personal injury settlement. Schedule an appointment today with one of the experts at HHJ Trial Attorneys to learn more. We aim to protect your rights and help you recover the maximum compensation you deserve.

 

Testimonial from Sandra, Satisfied Personal Injury Client
I had a wonderful experience with HHJ injury team. This firm always went above and beyond with their work and guidance. I am very appreciative that I got to choose them. I had a great outcome with my case!

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