Laredo TX Personal Injury Attorneys - Understanding the Settlement Process

Laredo’s location on the banks of the Rio Grande offers more than a bustling trade industry. The city is also home to breathtaking scenery and outdoor activities like kayaking and fishing. Unfortunately, if you are injured in an accident, you may find yourself homebound and unable to enjoy Laredo’s outdoor beauty. Whether you are hurt by another at work, on the road, or in a hospital, you may be eligible for a settlement from the at-fault party.

A personal injury settlement allows you to receive financial compensation from the responsible party in exchange for releasing them from liability. The settlement process is complex, but the Laredo lawyers at Carabin Shaw help accident victims get the compensation they deserve. We offer our services on a contingency-fee-basis, so you don’t pay us until we win your case. We have English- and Spanish-speaking professionals available 24/7 at 800-862-1260.

Filing a personal injury claim and pursuing a settlement requires many steps, including:

The quicker you contact a legal professional, the better. Your legal team will evaluate your case, assess the extent of your injuries, and investigate the circumstances of your accident. This critical first meeting sets the foundation for your personal injury claim.

Your lawyer handles the investigation of your case by first gathering essential evidence like accident details and police reports, medical records, and eyewitness testimony. In addition to determining fault and liability, your legal team will assess the severity of your injuries to ensure you receive a fair settlement.

The investigation will help your legal team create a demand letter outlining your injuries, accident facts, and a compensation amount. Your settlement might include:

• Economic damages (lost wages, medical expenses, property damage)
• Non-economic damages (loss of consortium, pain and suffering, loss of enjoyment of life)

The demand letter is sent to the at-fault party or insurance company to begin the negotiation process.

Your legal team and the at-fault party’s legal team or insurance company will begin negotiations to reach a fair settlement amount. This process may include multiple offers and counteroffers and require significant time to find a settlement amount on which both parties agree.

Once you agree on a settlement amount, a settlement agreement outlines the amount to be paid, the release of liability, and the payment method. Settlements may be paid in two primary ways:

As the name indicates, a lump sum is the entire settlement amount paid once. The money is usually disbursed to your legal team within 30-60 days after signing the settlement agreement. Your attorney handles the distribution of the funds, collecting their fee from the sum.

The structured settlement arrangement disburses periodic payments over a set period. The settlement money often goes into an annuity held by the at-fault party’s insurance company, which administers the funds according to the settlement agreement.

Your experienced legal team handles each step of the settlement process, from gathering evidence to handling the settlement distribution. Accident victims who seek professional legal help typically end up with much larger settlements than those who don’t since personal injury firms understand the actual value of a victim’s case.

If you can’t reach a satisfactory settlement, your legal team will prepare your case for court. The discovery phase allows both parties to consider the legal claims and defenses of the other. In many cases, the parties arrive at a settlement through mediation once the discovery process is complete. If not, your case will go to trial, and a jury will decide your settlement amount. Your legal team will represent you throughout this process.

The settlement process can be overwhelming, but the team at Carabin Shaw will guide you through every step. Check our client reviews to see how we’ve helped other accident victims get the compensation they deserve. Then call us toll-free at 800-862-1260 for a free case review.

For more information:

• Texas Statutes 41
• Cornell Law
• Annuity