Coping with the aftereffects of a significant accident can be stressful enough. However, settling a personal injury case in South Carolina can be as frightening and overwhelming. Many accident victims wonder what it takes to reach a fair settlement agreement. They may fear the aggressive tactics that some insurers and attorneys use to force a less-than-fair arrangement, especially when settling a personal injury case without fully understanding their rights.
Most personal injury cases never go to court. Instead, they settle outside of the courtroom. That means understanding how the settlement process works is vital. Knowing what to expect gives you peace of mind and can help you avoid costly mistakes. Especially when asking how long a personal injury case takes to settle.
What Does It Mean to Settle a Personal Injury Case?
Most personal injury cases settle before trial, but what does it mean to settle? It means both parties agree that a particular amount of money provides adequate compensation to the injured party. In exchange, the accident victim decides to drop any pending litigation.
A settlement is a legally binding resolution to a dispute. Once signed, the accident victim gets a certain amount of compensation. They also generally give up their right to pursue additional compensation through legal action.
Most evidence shows that personal injury cases end in a settlement. Sitting at the negotiating table is often less stressful, time-consuming, and expensive than going through a trial.
Factors That Influence Settlement Amounts
The value of every personal injury case varies depending on the circumstances of the incident, the severity of a person’s injuries, and how those injuries impact a person’s ability to work and their quality of life. Many of these same factors can influence settlement amounts. Since there is no one-size-fits-all formula for determining a fair settlement, it helps to have an attorney review the specific characteristics that make your case unique and calculate compensation based on the known factors that can influence settlement amounts, such as:
- The Severity of the Victim’s Injuries/Medical Expenses – Medical expenses are one of the most significant costs associated with an accident, and something victims need fair compensation to cover. Generally, the more severe the injuries, the more extensive the medical care and associated costs, and the higher the potential settlement. Injury severity can also factor into issues like disability, ability to return to work, and reduced quality of life, which can also influence the value of a settlement.
- Lost Wages and Future Earning Capacity – If an injury causes an individual to miss work, they can pursue compensation for their lost wages. When injuries are severe enough to prevent a person from returning to work or working in the same capacity as before the accident, loss of earning capacity can also affect a settlement amount. The age and health of the accident victim before the accident can also play a role. For example, consider a young, healthy individual unable to work due to an accident caused by a careless party. Their lost income may be greater than that of another individual, necessitating negotiations for a higher settlement amount.
- Liability and Evidence – In civil lawsuits, South Carolina uses a standard called modified comparative negligence, which dictates that an individual’s compensation can be reduced by the same percentage as their level of fault for causing an accident if that percentage of fault is 50 percent or less. This rule only binds civil cases. However, it can be used as a negotiating tactic in settlement talks. Solid evidence proves that the other party is significantly more at fault for causing an accident. This can increase a victim’s settlement.
Other factors, such as insurance policy limits, settlement, emotional distress, and the quality of your legal representation, can also affect settlement amounts.
What to Consider Before Accepting a Settlement
Do not accept a settlement offer from anyone until you speak with an experienced personal injury attorney. They can review your situation and calculate your injuries. Insurers and other parties know that accident victims may be financially vulnerable and need money to cover their expenses. A settlement offer can feel like a welcome relief. However, accepting an offer too soon or without fully understanding its implications can result in an individual receiving a fraction of what they deserve.
Again, once you accept a settlement, you typically waive your right to pursue further personal injury compensation or legal action. Before agreeing to a settlement, consider the following:
- Does the settlement cover all your injuries and losses, including medical bills, expenses, future medical treatment expenses, lost wages, loss of earning capacity, and pain and suffering?
- Is someone pressuring or intimidating you into settling quickly?
- What are the strengths and weaknesses of your case?
- Do you understand the legal implications of signing the settlement agreement?
- Are you prepared to take your case to trial?
Can You Still Settle During the Trial?
Negotiating a settlement can occur at any point in the personal injury lawsuit process. It can even happen after a trial has already begun. A settlement can occur before or during a trial, depending on the willingness of both parties to engage in productive discussions. Often, the court encourages settlement negotiations because it can help reduce the court’s caseload and save time and resources. It may also benefit accident victims because negotiations can be less stressful and time-consuming than a trial. This allows them to resolve their situation and receive their money quickly.
Working with a skilled attorney in negotiations. Litigation experience is the best way to achieve the most favorable outcome possible. An attorney can aggressively negotiate on your behalf, offer a timeline for how long to settle your injury case, and explain how your settlement gets paid out. Some settlements are lump sums, while others may involve a structured settlement arrangement. An experienced personal injury lawyer can help you manage potential liens on your settlement award.
Contact a Greenville Personal Injury Attorney for More Guidance
At Maxey McFarland Law, our skilled personal injury lawyers in South Carolina have the experience and resources to effectively represent you at the negotiating table or in the courtroom. Our team is here to help you understand your rights and take the first step toward securing the necessary benefits. Contact our Greenville office or call us at (864) 900-4231 to arrange a free initial legal consultation.