How Do You Know When A Settlement Is Fair?
Brian O Sutter
Personal Injury
If you have been injured, whether it was in a car accident, or you had a slip and fall in some public space, such as shopping mall, or an auto repair garage, you may want to seek financial compensation for your injury. You have the legal grounds to do this if the injury you received was through no fault of your own, but the inattentiveness, carelessness or negligence of someone else.Sometimes, however, especially when it is a case where it is clear that a lawsuit taken to court would be a clear cut win for you, an alternative appears. You may immediately receive an offer for a settlement which would be quicker, easier, and let everyone get on with their lives. But what exactly would constitute a fair offer for an out of court settlement?
The Faster Solution
Out of court settlements occur for a variety of reasons. For example, if you were involved in a car crash, you might even feel that a car crash lawyer isn’t necessary, because not only do you know you weren’t at fault, you had a dashboard camera active and recording during the accident that clearly shows the other person driving negligently. Or maybe you got into an accident at a business that doesn’t want its reputation stained by a public trial, and their own security cameras show that you were a victim of negligence.
Cases like this with nearly foregone conclusions are very good candidates for the other party being willing to negotiate. But this is where you should exercise extreme care. Even though you may receive a settlement, you must be careful of the fact that a settlement is normally a “one shot” deal. This means that there will be legal documents, drawn up by attorneys, that you will sign in exchange for the settlement money, and once the deal is transacted, there is no going back. So you must be absolutely certain that the settlement you are being offered is actually satisfactory to your needs.
Consider Your Situation
The extent of your injuries and just how much they will affect your life going forward will be the biggest determining factors in what constitutes a fair settlement. If you were in a slip and fall that resulted in a broken arm, or sprained ankle, for example, then fair damages may only require enough money for medical treatment, recovery, and lost wages. However, once you’re fully recovered, you have no additional needs.
On the other hand, if you’re in an automobile accident that results in a paraplegic condition, where you are now confined to a wheelchair for life, and can no longer work at your job, this changes the equation considerably. There will be extensive medical treatment, rehabilitation therapy, and of course, your career options are now considerably more limited, possibly resulting in the loss of your current job if mobility was part of it.
Bring In Professionals
Even if you’re not going to trial, having a personal injury lawyer provide you with advice on a settlement can be crucial. It’s a common tactic to severely “under offer” victims in order to quickly nullify a trial. Don’t let this be you, and make sure an experienced lawyer reviews your settlement offer.