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When do you know a settlement offer is right for you?

| Jun 16, 2022 | Uncategorized

If you’ve been injured in a car or truck accident, then you’re probably worried about how you’re going to get by moving forward. That’s understandable given your inability to work and your mounting debt from medical bills and rehabilitation costs.

The good news is that a successful personal injury lawsuit can provide you with the relief that you need. As you embark down this path, though, there’s a good chance that you’re going to be offered a settlement.

Although it may be tempting to snatch up quick resolution and fast access to cash, you should think twice before accepting one of these offers. Even though the vast majority of personal injury cases resolve before heading to trial, you should only settle your case if it’s in your best interests to do so.

How do you know if a settlement offer is right for you?

This is a good question. Before you accept a settlement, you need to assess every aspect of your case. This includes each of the following:

  • The value of your claim: Your first step is to determine the full extent of your damages. This means calculating your incurred medical expenses and lost wages, but it also means thinking about what your future treatment costs will be and considering how long you’ll be out of work. You also can’t overlook the pain and suffering that you’ve experienced, which can be more difficult to put a number on. An attorney who is experienced in this area of the law can help you gauge the extent of your losses, though, so that you know where your case stacks up in comparison to a settlement offer.
  • The strength of your evidence: If the evidence in your case is strong, then you’re in a better position to seek a settlement that is closer to your true losses. If the other side is unwilling to negotiate to that point, then you’re ready to go to trial to fight for what you deserve.
  • Consider damaging evidence: You also have to analyze your case from the other side’s point-of-view. If they successfully argue that you’re partially to blame for the accident, then your recovery may be reduced by the percentage of fault attributed to you. Therefore, you need to be prepared to address any comparative negligence arguments and think about the risks they pose if you take your case to trial.
  • How quickly you need resolution: Before accepting a settlement offer, think about how long you’re willing to wait for the resolution that you deserve. Some people need money immediately, so their financial circumstances drive them to settle quickly. Others just want to close this chapter of their life so that they can move on with their recovery and reclaiming what was taken from them. Do you need to resolve your case fast? Or are you able to wait for the outcome that you deserve? Only you can answer this question.

You can have an advocate and an advisor on your side

We know that you’re going through a lot right now, and the thought of dealing with a legal claim may seem overwhelming. But you don’t have to struggle through this process on your own.

Skilled personal injury attorneys like those at our firm are here to provide you with the support, guidance, and advocacy that you need to best position yourself for success. If you think that you could benefit from that kind of assistance, then we encourage you to continue to research your representation options so that you can choose the attorney that is right for you.