How long does it take to receive compensation after settlement in California? Know the complete process
After the stressful experience of a car accident, when the settlement is done, most people think – “Now when will we get the money?” After the settlement is finalized in California, receiving compensation is definitely a relief, but there are some important legal steps to be taken to get this amount. The timeline to receive compensation depends on several factors – such as the insurance process, legal formalities, and outstanding payments like medical bills. The team of car/auto accident lawyers Redding CA can help you understand the entire process better.
Understanding the settlement process in California
Once the settlement is finalized with the insurance company or the other party after the accident, there are several important steps to be completed before the funds are transferred. This process is usually completed within a few weeks, but in some cases, it may also be delayed.
1. Signing the release form
After the settlement amount is decided, the first thing to do is to sign a release form. This document gives a legal clean chit to the party with whom you have settled. This means that you will not make any further claims in the future. Before signing this form, it is important that you understand everything about it thoroughly with your lawyer. After both parties sign, the insurance company starts the payment process.
2. Processing the settlement check
After your release form is signed, the insurance company issues your settlement check. Usually, this can take 14 to 30 days. However, if the case is complex or the amount is large, it may take longer. An experienced lawyer monitors this process and makes sure that everything moves forward in the right way.
3. Deduction of legal fees and other expenses
When the lawyer receives the check, he first deducts the case-related expenses and his legal fees from it. Let us tell you that this fee is usually a part of the contingent settlement – that is, the lawyer gets paid only if you win the case. The rest of the amount is then given to you.
For more information, you can visit our page “How much do car accident lawyers charge in California?”
4. Payments to medical bills or lien holders
And if you have a medical lien or owe money to a medical provider, that is also deducted from your settlement amount. Medical clinics, health insurance companies or other lien holders are legally required to receive their share of the money. So make sure to clarify this with your lawyer beforehand to avoid any surprises later.
What can cause a delay in receiving the settlement amount?
While the entire process can be completed in a few weeks, there are certain circumstances that can cause a delay:
1. Complexity of the case
If the case involves multiple parties or there is a dispute about fault, the entire process can take longer. In complex cases, the investigation, negotiation, and legal processes can be lengthy.
2. Medical lien or dispute
If there is a dispute over medical bills or a medical lien is yet to be resolved, the settlement may be delayed. Sometimes the medical provider has to agree to this settlement.
3. Negotiation with insurance companies
Insurance companies sometimes delay issuing checks, especially when the amount is being negotiated. Your lawyer can resolve these matters quickly.
How to speed up the settlement process?
1. Sign documents on time
If you delay signing documents or providing information, the entire process may get delayed. Submit all the required documents on time.
2. Have complete information about medical treatment
Before settlement, make sure all your medical treatments are documented and all reports and records are available. Incomplete information may halt the process.
3. Hire an experienced attorney
An experienced car accident attorney can better handle negotiations with insurance companies, medical providers, and other parties. This reduces the chances of delays.
How to get settlement money in California?
Once the legal process is over and all liens and fees are deducted, you get your share of the amount. You can receive it via check or wire transfer if you prefer. In most cases, the money is received within a few weeks of the settlement being finalized.
Conclusion
The process of getting compensation after an accident settlement in California may seem a bit complicated, but with the right guidance and the help of an experienced attorney, the process can be fast and smooth. With the right information and active participation, you can get your rightful money on time.
Also Read: Complete Guide to California Slip and Fall Claims and Lawsuits