Should I Accept a Settlement for My Oilfield Accident? | New Mexico Lawyer

Were you injured in an oilfield accident? Are you seeking compensation for your damages? The settlement process can be legally complicated and emotionally draining. Oilfield companies’ insurance representatives will do everything they can to keep Albuquerque oilfield workers from receiving fair compensation for their injuries.

Perhaps you have filed your oilfield accident claim and insurance representatives have come to you with a settlement offer. You may be asking, “Should I accept a settlement for my oilfield accident?” Depending on the circumstances, it may be advantageous to wait for a better offer. An oil drilling accident lawyer in Albuquerque can help you to organize and file a comprehensive claim that covers the full cost of your damages; oilfield accident victims deserve no less.

What should you do if you are unsure if you should accept a settlement offer? Before you accept any money for your oilfield accident injuries, ask yourself the following questions:

1. Do I know someone who has filed an oilfield accident claim in the past?

If you know someone who has successfully received a fair financial settlement for their oilfield accident injuries, talk to them and ask their advice. Most likely, they hired a qualified Albuquerque oilfield injury attorney to negotiate their settlement.

2. Have I thoroughly reviewed the settlement details?

It is completely understandable that you would want to accept the offered money and move on with your life after your oilfield accident. However, sometimes a defendant’s counsel will include stipulations in the settlement details that are important to review before signing.

3. How much time has passed since my injury?

In the face of mounting medical bills, a quick settlement offer can seem increasingly tempting. However, it is important to take the time necessary to evaluate whether you are receiving an offer that will cover the full extent of your damages.

4. Have my oilfield accident injuries worsened or complicated over time?

Another downfall to accepting a settlement offer too soon is that you may not be aware of the true extent of your injuries. If your condition worsens or you require further medical care or physical therapy, you should include those costs in your oilfield accident claim.

5. Am I receiving compensation for non-physical damages?

Not all oilfield accident damages take the form of physical injury. Other damages can include emotional trauma, loss of future wages, or reduced quality of life.

6. Am I qualified to represent myself?

The answer, most likely, is no. While it is within your legal rights to represent yourself in settlement negotiations, the oilfield insurance companies are more likely to take advantage of your lack of legal expertise.

While these are all important questions to consider, keep in mind that you should never accept a financial settlement offer without the guidance of a qualified Albuquerque oilfield injury attorney. If you accept a lower offer than the full cost of your truck accident damages, you will not be able to file for more compensation in the future.

Attorney James Shaw became one of the founding partners of Carabin Shaw nearly thirty years ago and has tirelessly represented oilfield accident victims and their families ever since. True to his reputation as a formidable trucking accident lawyer, he is a passionate defender of workers’ rights and a staunch advocate for New Mexico families.

If you need an oil drilling accident lawyer in Albuquerque to help you negotiate a fair settlement, contact the offices of New Mexico lawyer James Shaw. If you would like to learn more about James Shaw’s professional background, visit his page. When you are ready, contact our offices toll-free at 1-800-555-0101 to schedule your no-cost, no-obligation initial consultation.