Car accident cases are often a long, grueling process that requires lots of strength and resolve. The subsequent case can also be very difficult to navigate. This is why it is important to have an experienced car accident attorney on your side to help you get the justice you rightfully deserve. Oftentimes, settlements are not received right away, and this is due to standard court procedure. Once a settlement is reached, it is important to know the steps that you need to take. In this article, we tell you how the settlement process works.
There is a difference between a settlement and a judgment. A settlement is an agreement that both parties consent to before a trial ever takes place. The stipulations of a settlement are usually monitored by a court-appointed arbitrator. The insurance company sends your lawyer a release form that prevents you from suing the insurance company or driver for subsequent damages.
A judgment is court-ordered during the trial process. It is announced during the culmination of a jury trial.
The paying party has 20 to 30 days to pay the receiving party before interest starts accruing on the settlement amount. The receiving party can also file a motion for a re-trial if the settlement monies are not paid on time.
For judgment settlements, the court imposes certain deadlines for the money. The losing party is allowed to file a motion for an appeal up to 60 days after losing the case. If the appeal motion is accepted, the losing party is not obligated to pay the settlement amount. Case appeals can take up to two years to be resolved.
Oftentimes, insurance companies are well-equipped to handle car accident settlements or judgments. However, that might not be the case with actual drivers. It is important to get the settlement or judgment terms in writing to ensure both parties have proof of the agreement. If the paying party refuses to pay, you can pursue the case in small claims court or file a lien against their property.
Using the legal system to pursue payment is called “execution”. The court can pursue garnishment of wages or funds which freeze the paying party’s bank account. The party is now obligated to withdraw the settlement amount and pay it to you or the amount is automatically debited from their account and paid to you.
The attorneys at Disparti Law Group are well-versed in the court judgment or settlement process. Our legal experts are located in Florida and Illinois with offices in Tampa, Holiday, and Chicago. They are able to interpret each state’s laws regarding court settlements. If you or a loved one is going through the car accident process, contact the Disparti Law Group now. Let our trusted legal advisers help you collect your settlement or go after non-paying parties. We have decades of experience in personal injury disputes. Call us now!