With great relief, you realize your claim will not be going to court. The attorneys have reached an agreement, and the claim has now been legally settled. How long does it take to get money from a settlement?
On average, the typical settlement can take up to six weeks for processing. This is due to a number of factors and may vary from one case to another.
Here are the things that typically have to happen before you receive your settlement check:
Paying Out Victim Expenses From The Settlement
Depending on the nature of the claim, there may be medical bills or vehicle repair bills to be paid, or to be reimbursed if the plaintiff has already paid these costs. If invoices or statements have already been collected and are up-to-date with no further bills to be included, the attorney will confirm final amounts to be paid to each creditor or medical provider, and checks will be issued accordingly.
Paying The Attorney Fees
Next, comes the attorney fee, along with court costs and filing fees. Your attorney will pay the legal costs and issue himself the agreed-upon fee for legal representation. A statement of services may need to be prepared that itemizes the actual work performed by the attorney, along with associated costs, if required, for postage, copies, travel, etc.
The Most Important Part For the Victim Comes Last: Victim Compensation Payout
After all related bills, fees, expenses, and costs connected to the settlement have been paid, the law firm will issue a check to the plaintiff in the residual amount. It may take a few days for the other checks to be processed, followed by the last one for the client. Sometimes the check will be picked up at the law firm, or it may be mailed via postal service, along with the final legal fee statement and a copy of the final settlement agreement, which the plaintiff would have signed at the conclusion of settlement negotiations.
Since most law offices are handling several cases at any given time, processing a settlement usually takes a few weeks. After months or perhaps years of legal proceedings, most clients will patiently await the finalization of their claim. If you are wondering, how long does it take to get money from a settlement, you can call the lawyer’s office for verification. Most likely, the cash settlement will arrive within six weeks.