Matthew Mincone | September 4, 2024 | Personal Injury
If you or a loved one have been involved in an accident in Tampa, FL, one of the most pressing concerns may be how long it will take to receive a settlement check. The settlement process can be complicated, and the time it takes to receive compensation will depend on several factors. A Tampa personal injury attorney can help you understand how these factors may impact the timeline of your case.
The Personal Injury Settlement Process in Tampa
The timeline for receiving a personal injury settlement check typically follows several key steps. These include:
- Medical treatment: It is typically recommended to reach a point of maximum medical improvement (MMI) before negotiating a settlement. This means waiting until your injuries have stabilized so you know your current and future medical needs and expenses. This can take weeks or months, depending on the severity of your injuries.
- Negotiations: You typically begin negotiations after completing treatment and determining your economic and non-economic damages. The duration of the negotiation process can vary significantly. Some cases may settle quickly if liability is clear and the damages are straightforward. However, complex cases may involve prolonged negotiations, especially if an insurance company disputes your claim.
- Settlement agreement: You may be offered a settlement that is agreeable to you. The parties will agree by signing a settlement release. Depending on how quickly both parties act, this can take a few days to a couple of weeks.
- Processing the settlement check: An insurance company will issue a settlement check once the agreement is signed. Florida law generally requires insurance companies to process and issue payment within a reasonable time frame, typically no later than 20 days.
- Distribution of funds: The final step involves your Tampa personal injury lawyer distributing the funds to you. Your lawyer may deduct a portion for their attorney’s fees, any outstanding medical bills and liens, and other expenses before issuing the remaining amount to you.
The settlement timeline varies drastically in every accident claim. Depending on the facts of your injury, a potential settlement check could take weeks, months, or even years to receive.
Factors That Can Influence How Long It May Take To Get a Personal Injury Settlement Check in Tampa, FL
Several factors can impact how long the settlement process takes. These include:
1. The Complexity of Your Case
The complexity of your personal injury case is a major factor influencing the settlement timeline. Cases with multiple parties, disputes over liability, or severe injuries often require more time to resolve. Insurance companies typically take longer to investigate and assess these claims. This can lead to extended negotiations or the need to retain expert witnesses who can substantiate your damages.
2. The Severity of Your Injuries
The more severe your injuries, the longer it may take to potentially settle. This is because severe injuries typically require extensive medical treatment and recovery time. It is important to avoid settling your case prematurely before knowing the extent of your injuries and damages.
Accepting a settlement before understanding the full scope of your current and future medical needs could leave you inadequately compensated after an accident.
3. Disputes and Negotiations
Disputes over liability and the proposed settlement amount can drag negotiation discussions on for weeks, months, or even years. Sometimes, the threat of litigation may be necessary to push for a fair settlement. This can extend the timeline if the parties involved in your case want to use discovery to uncover facts about liability or other issues.
4. Legal and Administrative Procedures
Legal and administrative procedures can extend the settlement process. Insurance companies and your Florida personal injury lawyer may be involved in processing the settlement check, obtaining releases for liens, and seeing that all legal expenses are settled before issuing you a final payment.
Contact the Tampa Personal Injury Lawyers at Mincone Personal Injury Lawyers for Help Today
If you’ve been injured in an accident in Tampa, FL, contact our skilled personal injury lawyers at Mincone Personal Injury Lawyers to schedule a free case review.
Navigating a personal injury claim can be complicated. Understanding the settlement process can be even more challenging. A Tampa personal injury lawyer can guide you through negotiating a potential settlement and evaluating how long it may take to receive compensation.
We proudly serve Hillsborough County and its surrounding areas:
Mincone Personal Injury Lawyers
1925 E 6th Ave Ste 10
Tampa, FL 33605
(813) 430-3338