After a car accident, all most victims want is to feel better from their injuries and get things back to normal. To be paid what you deserve, you may need to take certain actions and avoid taking others. One thing you may not have to do, though, is to spend time in a courtroom. To find out how you can be paid the compensation you need from the driver that caused your accident, read the info below.
Money, Compensation, Damages: What Do They Mean?
After an accident, you might hear some familiar terms and words that suddenly mean something different. If the other driver was at fault and you were injured, you are owed money. All accident victims are owed money for certain things, such as medical expenses and lost wages, and those are called money damages. Compensation is just another way of saying money damages. Two other common terms that mean about the same thing are judgments and settlements. They both mean money damages but are different in their sources. Judgments are paid after you win a case in court. Settlements, however, can be paid outside of court and are the preferred way to deal with accident cases.
More About Settlements
With a settlement, you can be paid without entering a courtroom. Here is what accident victims need to know about accident settlements:
When you agree to a settlement, you agree to accept the agreed-upon sum of money and not to take the other guy to court. Once you agree and sign, things are over. That means you need to use care and sign only after speaking with a personal injury lawyer.
Settlements can be offered any time after an accident and right on up until a judge renders a verdict. Many times, however, victims settle their cases a few weeks after an accident.
Timing is everything with a settlement. If you take the money too soon, you might not know whether or not you need more medical treatment. If you wait too long, the statute of limitations will expire.
It's vital to have a personal injury attorney on your side during accident settlement negotiations. The insurance company is not on your side and seeks only to reduce their losses. Your lawyer, though, knows how much money you need and deserve from the other side.
Take care not to speak to anyone but your lawyer after an accident. Speak to a personal injury lawyer to learn more.