What Happens After Your Claim Is Settled?

Settling a personal injury claim can bring a sense of relief, but it is important to understand that the process is not complete once the settlement is reached. Several key steps must occur before you receive your compensation. Knowing what to expect can help you stay informed and prepared.

Steps After a Claim Settlement

Once your claim is settled, here is what typically happens:

1. Release Form Signing:

The insurance company will require you to sign a release form. This document confirms that you agree to the settlement amount and waive any future claims related to the incident. It is crucial to review the release carefully, ideally with your attorney, to ensure your rights are protected.

2. Settlement Payment Processing:

After the release form is signed, the insurance company processes your payment. This may take anywhere from a few weeks to a month, depending on the company’s timeline and procedures.

3. Attorney Fee Deduction:

If you worked with an attorney, their fees will typically be deducted from the settlement amount. This is agreed upon at the start of your case and detailed in your contract.

4. Medical Liens or Bills:

Outstanding medical bills or liens may need to be paid from your settlement. Your attorney will often negotiate with medical providers to reduce these costs, maximizing your compensation.

5. Final Distribution:

Once all deductions are complete, the remaining funds will be distributed to you. Your attorney will provide a detailed breakdown of the settlement allocation.

How Long Does It Take to Finalize a Claim?

The timeline to receive your settlement funds varies based on several factors, including:

• How quickly you return the signed release form.
• The insurance company’s processing time.
• The complexity of addressing medical liens or bills.

On average, it may take several weeks to several months from the date of settlement to receive your payment.

Why Hire Fielding Law?

At Fielding Law, we ensure your settlement process is handled efficiently and transparently. Our experienced team will help negotiate medical liens, communicate with insurance companies, and ensure you receive the compensation you deserve. We take care of the details so you can focus on moving forward.

If you have questions about your settlement or need assistance with your claim, call 833.88.SHARK today for a free consultation. We are here to help every step of the way.