In a personal injury case, negotiations can go on for quite some time. Once the 2 sides have settled their dispute, the claimant awaits the arrival of a settlement check.
The first post-settlement step
The claimant needs to sign a release form. A signed release tells the insurance company that the claimant will not be seeking more money for the same injury.Claimants with an injury lawyer in Hamilton can obtain a release form from that lawyer, and then return it, once it has been signed. It is the lawyer’s job to get the signed form to the insurance company.
Insurance companies have been given no set time for the task of processing the release form.
If an insurance company finds the lawyer’s form to be unacceptable, then that can lengthen the time that the claimant must wait for the settlement check. There might be a medical lien or other lien against the settlement money. It takes time to handle the arrangements for payment of those liens. A release form could be processed in one office, while the settlement check needed to come from a different office. When 2 different offices are involved, the time for the entire procedure gets extended.
What happens after the check has left the insurance office?
Insurance companies usually send the check to the office of the claimant’s attorney. Once the attorney gets that check, he or she puts it in a trust or in escrow.
After the same check clears, the claimant’s lawyer takes out his or her contingency fee. Only then does the remaining money get sent to the waiting client/claimant.
Once a client/claimant gets the check, he or she needs to study it carefully. Is the name on that document that same as the one on the client’s bank account? If it is not, the client could encounter problems, when trying to cash the lawyer’s check.
If the client notes a problem with the document/check from the attorney, then he or she needs to talk with that same attorney. Lawyers generally agree to issue a new check, but all of that takes time.
Moreover, all the above information has assumed that the insurance company knows the correct address for the claimant’s lawyer, and client’s lawyer knows the client’s exact address. If the mail carrier fails to deliver the item that has been mailed, then the claimant must deal with an added delay.
Claimants can work to hasten the delivery of their settlement money. They can make sure that their lawyer puts the right name on the check that gets sent to them. In addition, they can make sure that their lawyer has their correct address, especially if they have moved quite recently.