Even if the other driver’s negligence in causing your Henderson auto collision is crystal clear, it can take you many months to get his insurance company to settle your claim for the compensation you deserve. When you reach this finish line in your case, you are understandably anxious to receive your check.
Unfortunately, you will not be issued a check immediately. Five steps will need to be completed before this can happen.
Five Steps Involved in Finalizing a Nevada Car Accident Settlement
It can take four to six weeks to complete the settlement process and receive your check. Understanding the steps that are involved can help you know where you are in the process and spot warning signs that the insurance company is delaying your payment too long.
Step #1: Signing the Release
Before you receive your check, the insurance company will require you to sign a release where you waive your right to pursue any other claims against the negligent driver and insurance company in exchange for your payment. You should not sign the release or any other documents without first having them reviewed by an experienced car accident attorney to protect your legal rights. Depending on the complexity of the release, your lawyer may negotiate its terms before you sign it.
Step #2: Your Check Is Issued
Once the insurance company receives your signed release, a check will be issued and mailed to your lawyer. This could take a week or longer, depending on the internal processes of the insurance company for issuing checks.
Step #3: Your Attorney Pays Any Liens
Your lawyer will deposit your check in a client trust account. Once it clears, he will pay your debts, which are referred to as liens. Debts that may need to be paid include:
- Medical care providers for unpaid medical bills
- Your health insurance company if they paid for your medical treatments for your injuries
- Medicare
- Medicaid
Before sending the payments, your attorney may negotiate settlements with these creditors so that you pay less than the entire amount owed. While this can take time, it can save you money and allow you to receive substantially more of your settlement proceeds.
Step #4: Your Attorney Will Deduct His Costs and Fees
The next step is for your lawyer to deduct his attorney fees and costs of your case from the settlement proceeds. These costs can include copying costs, expert witness fees, civil complaint filing fees, and deposition costs.
Step #5: You Receive Your Check
Once these steps are complete, your lawyer will send you a check for the balance of the settlement funds. Congratulations! Your car accident case is finally completed.
Have You Been Involved In A Henderson Or Las Vegas Car Accident?
If you’ve been injured in a car accident you need to speak with an experienced car accident lawyer as soon as possible. Contact us online or call our Henderson office directly at 702.405.6000 to schedule a free initial consultation.