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A settlement check may arrive in the mail if a plaintiff is not represented by a personal injury attorney. If a plaintiff employs a personal injury lawyer, a settlement check is sent to their attorney. Then, the attorney may deduct a portion of the settlement amount as compensation for their legal fees and provide the remainder to their client.
At High Rise Financial, we offer lawsuit loans to plaintiffs in personal injury cases and other types of cases. A lawsuit loan allows you to receive a cash advance based on a projected settlement amount. We can teach you everything you want to know about lawsuit loans and answer common questions about settlement checks.
How does the Settlement Check Process Work?
The settlement check process in a personal injury case is simple and straightforward. Here are the steps that must be completed before a personal injury case plaintiff receives their settlement.
Signing a Settlement Order and Releasing Documents
A plaintiff must sign documents to authorize the settlement. These include an Order of Settlement and any documents that outline the terms and definitions of the agreement. A plaintiff’s attorney can help their client review these documents and make sure they are signed in accordance with the law.
Release of Check
The at-fault party in a personal injury case processes the check. It may take 30 to 60 days before the check arrives. If a plaintiff has been working with a personal injury attorney, the check is sent to this lawyer’s office.
Cashing of Check
In many instances, a personal injury lawyer works on contingency. This means the lawyer removes a percentage of a defendant’s damages if this individual’s case is successful. Otherwise, a plaintiff receives the full amount of the damages awarded via a check sent directly to this individual.
Even though the settlement check process is easy to follow, problems can crop up along the way. If an error occurs during this process, it may force a plaintiff to wait longer than expected to receive their damages. In this scenario, the plaintiff may be forced to make financial sacrifices to cover their daily expenses.
What Problems Can Delay the Process of Getting a Settlement Check in the Mail?
Any errors in the paperwork relating to a settlement can delay payment. Common errors include clerical miscues or disputes regarding the settlement’s terms. If any errors happen, a personal injury lawyer can help a plaintiff address them immediately.
A personal injury attorney keeps their client up to date regarding any delays in getting a settlement check in the mail. The lawyer does everything in their power to prevent such issues. However, if a delay in getting a payment is happening, the attorney maintains open and honest communication with a plaintiff about the issue.
In addition, a personal injury attorney remains persistent. If a delay occurs, the lawyer continues to work diligently to ensure the client receives the check as soon as possible. The attorney may even offer tips and recommendations to help their client avoid financial issues until their settlement check arrives, such as requesting personal injury legal funding.
Is There Anything I Can Do to Speed Up the Process of Getting a Settlement Check in the Mail?
Hiring a personal injury attorney is the best option to speed up the process of getting a settlement check. The lawyer helps a plaintiff prepare documents for getting a settlement check and makes sure they are submitted in a timely manner. On top of that, the attorney communicates and collaborates with a plaintiff to keep their client up to date on the status of their settlement check.
A personal injury lawyer can provide a plaintiff with insights into legal funding for personal injury lawsuits, too. The attorney can explain how pre-settlement funding works. If a plaintiff wants to explore legal funding, this individual can then reach out to a pre-settlement funding company.
Expect a pre-settlement funding company to provide details about legal funding without any pressure. The company wants to educate people about lawsuit loans and their benefits. Next, an individual can decide if now is the right time to move forward with pre-settlement funding.
To apply for free, call (877) 735-0016
Should I Get a Lawsuit Loan While I Wait to Receive a Settlement Check in the Mail?
There are many reasons why people request pre-settlement funding in personal injury cases. Common reasons to pursue a lawsuit loan include:
No Risk
A pre-settlement funding company takes the risk associated with a lawsuit loan. If a plaintiff’s personal injury case is unsuccessful, this individual’s pre-settlement funding provider is responsible for the loan balance. The pre-settlement funding company clears this balance, and the plaintiff keeps their lawsuit loan amount.
Easy to Obtain
Getting a loan from a bank or credit union requires an extensive application process. Comparatively, obtaining a lawsuit loan involves a brief application. Plus, an individual does not need to share their credit score or financial history to get pre-settlement funding.
Flexible Loan Options
A pre-settlement funding company customizes a lawsuit loan quote to a plaintiff. This allows a plaintiff to receive a lawsuit loan that aligns with their expectations. It also boosts the likelihood that a plaintiff can get a lawsuit loan that can be used for the duration of their litigation.
Expert Support
Lawsuit loans are backed by pre-settlement funding experts. If a plaintiff has concerns or questions about their lawsuit loan, these experts can respond to them. This allows a plaintiff to get all of the information needed to feel comfortable with a lawsuit loan.
Do not rush through the process of getting pre-settlement funding. Instead, a plaintiff should request information about lawsuit loans and evaluate their financing options. This enables a plaintiff to choose a financing option that delivers optimal results.
How Can I Apply for Pre-Settlement Funding?
High Rise Financial offers a wide range of pre-settlement funding options. Our team can learn about your personal injury lawsuit and help you apply for a lawsuit loan. To learn more, please contact us today.
Call or text (877) 735-0016 or fill out our form to apply today for free.