After The Settlement: How Can You Collect Payment?

After the auto accident and once the settlement negotiations are over, the only thing left to do is collect the money. Obviously, collecting your money is a big deal, but how do you do it? How your funds are paid depends largely on how your case was settled. 

Settling With an Insured Driver

When you settle with an insurance company, there are some final steps that need to be collected before you receive an actual check for your injuries and damages. Before the check, your auto accident attorney will need to see the settlement offer in writing.

After reviewing the letter for accuracy, your attorney will have you sign a release. The release is an agreement between the insurance company and you. It means that you are accepting the settlement offer and that you are releasing the insurance company and other driver from any liability in the future. Whether or not you sign the release is up to you. If you do agree to sign it, it is important to understand that regardless of what happens, you cannot file a claim or lawsuit against the driver or insurance company for anything related to the accident. For instance, if you need more medical attention later as a result of injuries that you incurred from the accident, you cannot ask for the insurance company or driver to pay your medical bills. 

Once the release is signed, your check is sent to your attorney. If your attorney has made any agreements with your health care providers to pay your bills from your settlement, those funds will be deducted from your check before you receive it. 

Settling With an Uninsured Driver

When you settle with an insured driver, you are pretty much guaranteed that you will receive payment. Insurance companies rarely fail to pay once an agreement is reached. However, when you settle with an uninsured driver, there is a possibility that you might not get paid the agreed upon amount. Even if you took the driver to court and won your case, there is a possibility that collecting payment will be hard. 

If you did not go to court, get the settlement offer in writing from the uninsured driver. To get payment, you can agree to a payment plan. You can also go back to court and ask the court to allow you to garnish the other driver's wages until you are fully paid. 

Whether dealing with an uninsured or insured driver, an attorney like Gibbs and Parnell can help you collect payment.