The reality is that most personal injury lawsuits settle out of court. The TV theatrics that you see on legal hit shows that feature courtroom drama is just that – theatrics. A good personal injury attorney will get you a substantial settlement offer without them seeing the four walls of a courtroom. This is typically done via a series of meetings with the other party’s legal team and insurance company, back and forth and eventually, the settling of your claim.
Need more information on what a good settlement offer in the world of personal injury law is? Please call us NOW at (773) 906-4833to learn more via the use of past cases to get a real-world idea of what you can expect for a personal injury lawsuit. Nothing is fixed, and two similar cases can range in the compensation or settlement offer depending on a number of factors. If you’d like more information on your case and its prospects from our best injury attorneys, feel free to call us at NO COST to you at (773) 906-4833. We look forward to hearing from you.
In order to get a feeling of how much your case is worth, consider the following:
- The cost of medical bills, pain and suffering and lost wages
- The cost of legal proceedings, including calling forth expert witnesses
- Whether or not you have a pre-existing condition
- The type and extent of injuries suffered
- Whether or not you played a contributory role in your injuries
- Attendant care – whether you’ll need help around the house after your injuries
- Expected legal fees
- Liability and whether you played a role in the injury
Chances of Success Determine Your Settlement Figure
The next thing you want to look at regarding the worth of your personal injury case are the chances of success and if your attorney can demonstrate liability. If, however, the case hinges on a 70/30 chance, you may want to consider settling on taking 30 percent less when it comes to your payout.
How Much Should I Expect from a Settlement?
A good settlement offer should not only be able to cover your hospital bills and legal fees, but it should also be equivalent to close to a years’ worth of your current wages, especially in cases where your injuries may be permanent or cause some kind of disability. In addition, insurance companies will tend to low-ball you if they have reason to suspect that you cannot wait out, for instance, three years for the case to be heard by a judge. In these cases, working with an attorney will help you not only renegotiate a settlement offer, but it will help you get the maximum possible compensation for your injury lawsuit.
Best Personal Injury Settlement Negotiation Attorneys – Call Us Now!
McCready Law specializes in personal injury settlement negotiations. Please contact us TODAY at (773) 906-4833 to receive your 100% FREE legal consultation. Thanks, and we look forward to hearing from you.
FAQs
A reasonable settlement in most personal injury cases compensates the victim adequately for their medical expenses, lost income, and pain and suffering. It should cover both current and future costs related to the injury.
What is a good settlement figure? ›
It comes down to math. Very roughly, if you think that you have a 50% chance of winning at trial, and that a jury is likely to award you something in the vicinity of $100,000, you might want to try to settle the case for about $50,000.
How much money should I ask for in a settlement? ›
Ask for more than what you think you'll get
There's no precise formula, but it's generally recommended that personal injury plaintiffs ask for about 75% to 100% more than what they hope to receive. In other words, if you think your lawsuit might be worth $10,000, ask for $17,500 to $20,000.
What is the least acceptable settlement? ›
The bottom end of the Settlement Range is called the Least Acceptable Settlement (LAS). This is the minimum point at which, when making a deal, you still think that the negotiation has been to your advantage. The top end of the Settlement Range is called the Maximum Supportable Position (MSP).
What is a reasonable full and final settlement offer? ›
It depends on what you can afford. Your full and final settlement should offer equal amounts to each creditor. For example: Your lump sum is 75% of your total debt. You should offer each creditor 75% of what you owe them.
How to calculate a settlement amount? ›
To determine a potential settlement value, they first combine the total of medical expenses to date, projected future medical expenses, lost wages to date and projected future lost income. The resulting sum is then multiplied by the pain and suffering multiplier value to produce a projected settlement amount.
Can you negotiate a settlement amount? ›
It is possible to negotiate directly with creditors and settle your debt for less than you owe, but you may want the help of a professional. A quick counseling session from a certified credit counselor can help you discover your options and choose the right path forward.
How to find settlement value? ›
How does one begin to analyze the settlement value of a claim like this? The answer is to break it down into all of the possible outcomes and then to ascribe a probability of occur- rence to each possible outcome. Here, one possible outcome is that the defendant wins a judgment that it did not breach the contract.
At what point do most cases settle? ›
On average only 5% of our cases go to trial and that is because most cases do settle at some point before trial. Cases may settle very early in the case, at a settlement conference, at mediation, at the eve of trial, or even in the middle of trial. Deciding whether to settle is a calculated risk.
How is a settlement figure calculated? ›
The settlement figure is the amount you owe on your car finance, but might also include extra charges for things like admin as well as early settlement fees. This settlement fee is usually valid for 28 days, and any extra payments you make in the meantime will affect this figure.
Some insurance companies will send a low settlement offer due to incomplete medical documentation or lack of evidence proving the seriousness of your injury. The first settlement offer is usually just a starting point that you or an injury lawyer can negotiate.
What is the average settlement figure? ›
An average personal injury settlement amount is anywhere between $3,000 and $75,000. Be careful when using an average personal injury settlement calculator to give you an idea of what you may stand to collect. These numbers really depend on your individual case and are hard to predict without a professional.
How do you ask for more money in a settlement? ›
Get the Adjuster to Justify a Low Injury Settlement Offer
Instead, ask the adjuster to give you specific reasons why the offer is so low, and make notes of what he or she tells you. Then write a brief letter responding to each of the factors the adjuster has mentioned.
What is the usual result of a settlement? ›
The result of a settlement agreement involves the responsible party paying a certain amount to compensate for the damages caused to the victim.
How do you determine the value of a settlement? ›
Settlement amounts are typically calculated by considering various economic damages such as medical expenses, lost wages, and out of pocket expenses from the injury. However non-economic factors should also play a significant role.
How much should I offer to settle? ›
Offer a Lump-Sum Settlement
Some want 75%–80% of what you owe. Others will take 50%, while others might settle for one-third or less. If you can afford it, proposing a lump-sum settlement is generally the best option—and the one most collectors will readily agree to.
