By: Matt Jett January 25, 2023

How Are Personal Injury Settlement Paid Out? Your Complete Guide

The Settlement Amount

When it comes to personal injury lawsuits, the heart of the matter lies in determining the settlement amount. This figure is shaped by several critical factors. Firstly, there’s the assessment of liability and fault, a crucial starting point to establish who bears responsibility for the injuries incurred. Equally significant is the gravity of your injuries and the resulting medical expenses. The more severe the injuries, the greater the financial impact in terms of medical bills. Lost wages and potential future earning capacity are also integral components, factoring into the final settlement figure.

At Jett Legal, we recognize the importance of advocating for fairness. Our team works tirelessly to ensure that your settlement reflects the extent of your damages, sparing no effort to maximize the compensation you deserve.

Payment Options: How Is Your Settlement Paid Out?

Once your personal injury case reaches a successful conclusion, the next critical aspect to consider is how your settlement will be disbursed. There are two primary options to explore:

Lump-Sum Payment

Receiving the entire settlement amount at once can provide immediate financial relief. This lump sum can help you pay off car accident medical bills, clear debts, and cover other expenses promptly. However, it’s essential to carefully manage and invest this payment for your long-term financial well-being.

Structured Settlements

Structured settlements offer an alternative approach, with periodic payments over time. This arrangement can provide a steady income stream, ensuring your financial stability over the long haul.

While it may lack the immediacy of a lump sum, it offers financial security and can be tailored to meet your specific needs.

The choice between these options is crucial, and our experienced personal injury attorneys at Jett Legal can help you make an informed decision that aligns with your unique circumstances and financial goals.

Role Of Insurance Companies

Understanding the role of insurance companies in the personal injury settlement process is vital. These companies often represent the defendant in a personal injury case and play a significant part in the payout process. They may attempt to minimize payouts, highlighting the importance of having an experienced personal injury lawyer on your side. Insurance adjusters assess your claim, negotiate settlements, and may even be responsible for paying your settlement check. Dealing with insurance companies can be challenging, but you can navigate this process with the help of a lawyer. At Jett Legal, we work tirelessly to protect your rights and secure the compensation you deserve from insurers.

Legal Fees And Expenses

Most personal injury attorneys, including those at Jett Legal, work on a contingency fee basis. This means that you only pay legal fees if you win your case. These fees are typically calculated as a percentage of your final settlement amount, ensuring you don’t have to worry about upfront costs.

It’s also important to be aware of other potential expenses that may be deducted from your settlement, such as filing fees or costs related to expert opinions. Our goal is to help you receive the full compensation you deserve while ensuring transparency in managing any expenses associated with your case.

The Role Of A Personal Injury Lawyer

When dealing with a personal injury claim, having an experienced personal injury lawyer by your side can make all the difference. At Jett Legal, we handle every aspect of your case. Our commitment begins with a thorough evaluation of your claim, from assessing liability and fault to estimating future medical expenses and lost wages. We’re skilled negotiators, ready to advocate for your fair settlement. With our contingency fee structure, you don’t pay us until we win your case. From negotiating with insurance companies to managing legal fees and expenses, we’re here to ensure you receive the compensation you deserve. Trust us to handle every step of the way so you can focus on your recovery.

Contact Jett Legal Today

Understanding personal injury settlements is your key to fair compensation. From assessing liability to negotiating with insurance companies, you’ve now gained valuable insights into the process. But knowledge alone won’t secure your settlement – action will.

Take the next step with confidence. Contact Jett Legal today for a free case review. Our experienced team is ready to guide you through the personal injury payout process, ensuring you receive the compensation you deserve. Don’t let uncertainty hold you back. Your path to a just settlement begins here with Jett Legal.

Author Bio

Matt Jett is the CEO and Managing Partner of Jett Legal, a Missouri personal injury law firm. With more than 10 years of
experience in personal injury, he has zealously represented clients in various legal matters, including car and truck
accidents, workers’ compensation, wrongful death, and other cases.

Matt received his Juris Doctor from the University of Missouri-Columbia School of Law and is a member of the Missouri
Bar Association. He has received numerous accolades for his work, including the Rising Stars distinction by Super Lawyers 2019-2022.