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Personal Injury Blog

What Your Settlement Money Will Go Towards

Posted May 13, 2020 in Personal Injury Blog

Personal Injury Lawyer

If you have been injured in an accident and feel you have a solid case, don’t start planning what you’re going to use the settlement money for until you know where it legally belongs. Your lawyer can help teach you the types of damages you can seek, and doing so will give you a better understanding of how much you can expect. The following may help you see where the money from your settlement might end up.

Medical Bills

Receiving medical attention after an injury can get expensive. You might have ambulance costs, an emergency room bill, surgery expenses, and much more. Medical costs beyond the initial accident could also begin to pile up, as you may have physical therapy, prescription medications to purchase, and more. In some situations, your medical provider may put a hold on the bill so it won’t get sent to collections. When this happens, the medical provider’s portion will come out of your settlement before you see any of the money. 

You may also have had your medical bills paid by another party, such as your personal health insurer. These insurers will often place a lien on your settlement. In that case, those liens will be satisfied before you are able to receive any settlement money as well.

Legal Fees

If you hired a lawyer to help you through the legal process, chances are he or she worked on a contingency fee basis. This means the lawyer’s payout is contingent upon winning the case. If it is lost, you don’t owe the attorney anything, but if the case is won, the lawyer fees will come out of your settlement. Some lawyers will pay all the small legal fees that arise as the case plays out. This includes filing, office work, investigative fees, professional opinions, and more. If that’s the situation you’re in, those legal fees will also be given to the lawyer from your settlement.

Compensatory Costs

After all the liens and fees have been satisfied with your settlement, you will receive the remainder as compensation for pain and suffering or other types of non-economic damages. If you have future medical bills that were not a part of the settlement for some reason, it would be smart to set some money aside for that.

Contacting a Lawyer to Get You Started

After a personal injury, you could be struggling to pay the bills. The good news is you have someone who can help. Contact a personal injury lawyer, like a personal injury lawyer in Charlottesville, VA, today to get started in pursuing a fair settlement.

 


 

Thanks to MartinWren, P.C. for their insight into where your settlement money goes after being in court for a personal injury case. 

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