Many tractor trailer collision cases can be resolved through an out-of-court settlement. This process involves insurance companies negotiating with the injured party to pay a certain amount in exchange for the victim giving up his or her legal right to pursue the claim further. An injured person must ensure that the settlement accounts for all his or her losses, including future medical bills, lost earning capacity, and pain and suffering.
Filing a lawsuit and going through the litigation process is another option, but settling a Johnstown truck accident case might be ideal for most injured parties and their families. The settlement allows victims to get the financial payments they need to move forward with their lives without going through a long and stressful litigation process, which could include a trial. Reach out to a seasoned semi-truck crash attorney for help settling your case.
One big advantage of a settlement is that the outcome is certain. The amount of money being awarded is specified in the settlement agreement, eliminating the risk of unpredictable jury decisions. The settlement also removes the risk of receiving a small award or no award at all, as juries typically lack experience in injury cases and are unable to determine appropriate compensation for damages such as pain and suffering. Furthermore, attorneys are not allowed to suggest numbers for pain and suffering, leaving jurors with little reference points for determining the fair award amount. For instance, jurors will not be told about the amount of the insurance company’s offer (or even if there was an offer), nor will they be allowed to see other verdicts from similar cases.
Additionally, settling a truck wreck case in Johnstown is often quicker than going through the litigation process, which can take several years until the trial occurs and involves significant time and financial costs. Litigation can also distract from work or schooling, creating demands on an injured person’s time. Finally, settling can avoid expenses associated with filing fees, court reports, and expert reports.
The settlement process for a Johnstown 18-wheeler collision case typically starts when the plaintiff’s lawyer has all the necessary pieces to present the case, such as:
Then, the plaintiff’s attorney submits a demand package to the defense attorney or the insurance company, which might make an offer in response. This process is similar to buying a car, with negotiations back and forth until the parties agree on a settlement amount. Once they do, the insurance company or defense attorney prepares a release, which the plaintiff’s lawyer reviews, and the injured victim signs.
The insurance company then sends a check to the plaintiff’s attorney, who processes the settlement and remits the net settlement proceeds to the plaintiff. If the plaintiff is a minor, court approval is required, and the settlement money may need to be deposited in an interest-bearing account until the minor reaches the age of 18, unless further court approval is obtained to release a portion of the funds early – such as for medical or educational expenses.
Once the plaintiff signs and returns the release form, the insurance company typically has 30 days to send the payment. In most cases, the payment is made within a couple of weeks although there are rare situations where the insurance company may delay or neglect to issue the check. In such cases, the plaintiff’s attorney can file a petition to compel the defense to fulfill its obligation.
Generally though, once the agreement is reached, the payment is issued within a few weeks.
Settling a Johnstown truck accident case can be a favorable option for an injured person seeking fair compensation for his or her losses. It provides a more predictable outcome, eliminates the risk of receiving an inadequate damages award, and avoids the lengthy and costly litigation process. A settlement also allows a truck accident victim to focus on his or her recovery and move forward.
When you want to settle your case quickly and effectively, get in touch with one of the experienced attorneys at Marcus & Mack.
