Our Injury Attorneys in Vancouver WA Answer Personal Injury Settlement FAQ
If you are injured in an accident, the first thing you should do is to contact your trusted injury attorneys in Vancouver WA. Being in an accident can be a stressful situation, and your personal injury attorney can help. Many injuries can end in a settlement; however, many people have questions when it comes to a personal injury settlement. Below you will find the most frequently asked questions as well as answers to those questions.
Can my health insurance policy be paid back with money from my settlement?
Yes, in fact it is common for that to happen. Health insurance policies typically allow for personal injury settlement funds to go towards the money they paid out for medical costs.
My claim is for bodily injury, so does that include my medical bills?
The phrase “bodily injury” refers to a personal injury. There are several expenses that are covered under a bodily injury claim such as:
- Medical bill that you have incurred
- Any wages that you have lost due to the injury
- Reimbursement for any rental car expenses
- Any undue stress from the accident that has caused you pain, suffering, or distress
Any bodily injury settlement you receive must include all the damages that are available to you. If it does not include them then you may lose your right to fight to receive them.
If my child receives a personal injury settlement, will I have access to the money?
Typically, no. A parent is not given access to their child’s fund, so that the money will not be misappropriated. The money is set in an account for the child who will gain access to it once they turn 18-years-old. If additional funds are needed for the child’s care or well-being, the parent may discuss the matter with the court who will decide if a withdrawal from the fund is necessary. In order to find out what expenses could be covered for your child you should ask your injury attorneys in Vancouver WA.
If I receive annuity from a personal injury settlement, can I break it?
Most likely you will not be able to break an annuity. The point of having an annuity is to receive payments from your settlement over time, rather than as one large lump sum. If the funds are in an annuity, then it is likely they are earning interest which will bring more money to you in the end. Breaking an annuity is difficult. You could go in front of a judge to see if they would consider setting aside the annuity for you; however that is unlikely to happen. There are companies that purchase annuities and pay out one large lump sum to you, however there is a catch. These companies will be paying you anywhere from 20-50 cents on the dollar for your annuity. By doing so, you will receive less funds and giving up a large amount of money to receive one payment.
Will my attorney be able to give me a copy of my settlement check?
Yes, your attorney is able to and should give you a copy of your settlement check. Since you are the client, you are absolutely entitled to receive a copy of the check. Not only should you receive a copy of the check, you are also entitled to review the settlement breakdown sheet typically before your attorney deposits the check. The insurance company will make the check out to both you and your attorney; therefore, you will need to endorse the check before it can be deposited in your attorney’s bank account. If your attorney does not give you a copy of the check, be sure to ask for it.
When will my attorney collect their fee?
When you first hire an attorney you will receive a retainer agreement, which is your contract with the attorney. Like all contracts, be sure to read yours before signing. Your attorney fees may be taken from the gross amount of the settlement which is before your medical bills are paid. Or your attorney may be taking their fee out of the net sum of the settlement which would be after your medical expenses are taken care of.
Can my attorney settle the case without my say so?
Again, be sure to read your retainer agreement thoroughly. Your agreement may give your attorney consent to settle the case without you in agreement. If that happens and you are unhappy with the settlement you are receiving, let your attorney know right away. You can stop the settlement that was agreed upon and return the funds if the check has been received.
How do I collect my person injury settlement funds?
If the party who caused the injury to you has insurance, then their insurance company will be issuing the funds to you. More likely than not, they are aware of the outcome of the case. They will issue a check to you in the amount agreed upon. If the party who caused you injury does not have insurance, things become more complicated. It can be harder to collect funds from someone who does not have insurance. You may have to ask the court to enforce the judgement or hire an attorney who specializes in these types of collections.
Is there a minimum amount I will receive in my personal injury settlement?
Currently, no state has a minimum or maximum amount set to receive for a personal injury settlement. The amount you receive will depend on several factors, such as: how long you are expected to be injured, the financial damage the accident caused you, and what the extent of your injuries is.
Contact Your Local Injury Attorneys in Vancouver WA
Etengoff Pak Law Group are the local injury attorneys in Vancouver WA you can trust to fight for your rights! Call (360) 693-2919 today.