How do lawyers negotiate settlements

How do lawyers negotiate settlements

If you have recently been injured in an accident through no fault of your own, you may find yourself inundated with lawyers and unsure which one to hire. After being wounded, many people seek the assistance of a lawyer to defend their rights and ensure they are adequately compensated for lost wages, medical expenditures, and pain and suffering. Depending on the circumstances of the event, medical attention may or may not be required. In the case of an automobile accident, for example, the person who caused the accident will be liable for any repairs to the victim’s vehicle, in addition to the previously mentioned compensation.

Most people contact a lawyer soon after the injury happens, even though payment negotiations usually do not begin until medical care is completed. Following the completion of medical treatment, attorneys will begin negotiating with the insurance company representing the person who caused the accident. During this period, lawyers will estimate the amount of medical costs, doctor reports and diagnoses, lost wages, damages, and pain and suffering. Personal injury lawyers will submit a proposal to the insurance adjuster for consideration after receiving your approval.

how do lawyers negotiate settlements money

A response, which is likely to be a counteroffer, usually takes 30 days. Lawyers will examine the offer with their client at this point to see if a reasonable settlement can be reached. If not, the lawyer will write another letter stating why the adjuster’s offer is unacceptable and requesting that the matter be settled for a somewhat lesser sum than the first proposed amount. This circumstance puts each side to the test, as the adjuster wants to settle the matter for as little as possible, while the lawyers want to ensure that their clients are adequately rewarded.

how do attorneys negotiate settlements

After several letters and possibly several phone calls, the lawyers will notify their client when a fair offer has been achieved. While they cannot tell their client what to do, they can advise them on the fairness of the offer and how that figure might change if the case goes to trial. The majority of personal injury claims are settled out of court to save time and money. When a trial is authorized, attorney expenses and court costs skyrocket. An attorney earns a pre-negotiated percentage of the client’s settlement, but a higher share if the case proceeds to trial.

how to negotiate a settlement with a lawyer

There are many lawyers who handle personal injury claims, and it is always vital to choose one who appears serious and educated about the process. The information in this article is provided solely for educational reasons. It should not be construed as, or substituted for, professional legal advice. Individuals who require legal assistance should contact a lawyer in their region who can answer their questions and address their issues.

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