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Pre-Settlement Funding
Financing Justice® |
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About Our Pre
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| Disclaimer:
The material published at this site is for informational purposes
only and is not intended to be legal advice. Transmission of the information
is not intended to create, and receipt does not constitute, an attorney-client
relationship between any parties whatsoever. Readers, whether or not
attorneys, should not act upon this information without advice or
doing independent legal research. Capital Transaction Group Incorporated
disclaims any liability whatsoever for any consequences that may flow
from any material published here. |
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Why is my case
taking so long?
One of the most common questions we are asked is "Why is my case
taking so long?" Many clients get angry as the time between the
injury and the claim settlement gets longer and longer. Plaintiffs
often vent their anger at their attorneys for the delay when, in
most cases, it is not their fault. We constantly hear clients complain
that their attorney is "not doing anything" or "my attorney won't
tell me anything". CapTran has invested in thousands of personal
injury cases and has dealt with literally thousands of personal
injury attorneys and their staffs. Our experience tells us that
there are many reasons for the delay and in order to determine whether
or not your case is going unusually slow it is important to understand
how the claim process works. First and foremost is the fact that
insurance companies are in no hurry to settle. The longer they can
hang on to the money, the more investment income they can earn.
While many states have bad faith insurance laws that require insurance
companies to handle claims in good faith, many continue to move
as slowly as they think the law will allow. Certain insurance companies
are especially slow to deal with and some have even been successfully
sued under the bad faith insurance laws.
Most cases settle without a lawsuit.
Notice we say "claim process" and not lawsuit. That is because year
in and year out, most personal injury claims are settled without
a lawsuit. For example, insurance industry survey data reveals that
95%-96% of all motor vehicle bodily injury claims are settled without
a lawsuit ever being filed. Attorneys only file lawsuits as a last
resort if the claim cannot be settled through negotiation with the
tortfeasor's (defendant's) insurance carrier.
Should I hire an attorney or handle the claim myself?
If what you just read about settlement data has you thinking that,
if it is so easy to settle a case, maybe you should handle the claim
yourself, think again. Study after study shows that claims paid
to claimants without legal representation are lower than those with
legal counsel.
The claims process
Your attorney will notify the defendant's insurance company that
counsel is representing you. The insurance company will assign an
adjuster to work on your claim. This is the person with whom your
attorney will negotiate to secure the best settlement possible.
There are two parts to the claims process ?liability and damages.
LIABILITY
The first part of the claims process is establishing liability.
If there is any question of liability the claims process will come
to a screeching halt.
Plaintiffs always seem to feel that the question of liability is
cut and dried since a police officer may have arrived at the scene
and issued a traffic ticket to the defendant. However, it may not
be that simple:
- The defendant may have subsequently challenged the ticket and won.
- The defendant may have a valid excuse such as an emergency situation that made the accident unavoidable. In many states, such "emergency" actions are valid defenses.
- The defendant may be a governmental entity with sovereign immunity meaning they can't be sued.
- You may be considered partly (not mostly) responsible and in some states such "contributory" negligence may prevent you from suing.
Your own history and conduct will have an impact on the insurance adjuster's view of liability. Some of the things that will make an adjuster question liability are:
- If you went to the emergency room and the medical report reveals drugs or alcohol present in your bloodstream.
- If you have a prior criminal record.
- Previous injuries. If you have had a previous injury the adjuster may question if the injury is really a result of the previous accident or condition rather than the current accident.
- Subsequent injuries. If you have a subsequent injury resulting in another insurance claim, the adjuster will begin to wonder if you are a scam artist. At the very least, you will have two insurance companies claiming that your injuries were the result of the other driver's negligence.
While we find that in most cases insurance carriers do not challenge
liability without good reason, we cannot emphasize too strongly that
only a qualified personal injury attorney can adequately represent
you on liability questions.
DAMAGES
Generally, the most time consuming issue is the question of damages. Since your physical injuries are most likely the largest component of your claim value, your attorney must know the answers to the following questions:
- What were your injuries?
- What treatment did you receive?
- What were your medical expenses?
- Have you stopped being treated and have you reached what is called maximum medical improvement (MMI)? MMI means that additional treatment will not make you any better.
It is important for you to understand that while you are still
being treated your attorney can do very little if anything to move
your case along. Why? Until your condition has been fully treated
and you have reached MMI, your attorney has no way of determining
how much to ask for!
To help speed your things along, make sure that you do the following:
- Be diligent in your medical treatment.
- Make sure that your attorney receives proper documentation from your medical providers.
- Ask your attorney if there is anything further that you need to provide.
- When you stop treating ask your attorney when a demand letter will be sent to the insurance company.
DEMAND LETTER
When your attorney is sure that you have reached MMI and that all facts pertinent to your claim are known, a "demand letter" will be sent to the insurance adjuster. The demand letter will contain a recitation of the facts of the accident, theory of liability and demand for payment for the damages you have suffered.
We have seen all kinds of demand letters. Some attorneys treat demand letters like simple business documents and others seem to see them as an art form offering the chance to wax poetically about the grievous nature of your injuries.
Insurance adjusters see thousands of demand letters and are expert at plowing through the verbiage to get at the real issues. It is important to ask your attorney for a copy of the demand letter so that you can be sure that your claim is complete.
Be diligent and patient
Once you are satisfied that you have finished medical treatment (and are at MMI) and your attorney has submitted an accurate demand letter, you must be patient and diligent.
If there are no liability issues and your claim does not have the
appearance of fraud or buildup, your claim will be processed by the
insurance company's adjuster. Time really starts now. All of the time
up to this point means nothing. Be diligent in checking with your
attorney to see if the insurance company has responded as well as
to make sure that there are no issues that have arisen of which you
should be aware.
If you have reached this point, be patient. Your attorney wants the same thing you do; to have the case settled to your satisfaction and get paid.
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Disclaimer:
The material published at this site is for informational purposes only and is
not intended to be legal advice. Transmission of the information is not
intended to create, and receipt does not constitute, an attorney-client
relationship between any parties whatsoever. Readers, whether or not attorneys,
should not act upon this information without seeking professional advice or
doing independent legal research. CapTran disclaims any liability whatsoever for any consequences that may flow from any
material published here.
CapTran Holding
LLC Copyright 2000 - 2006
CapTran SC, LLC
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CapTran NC LLC
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CapTran DE LLC
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