Pros and Cons of Settling Out of Court
Not All Personal Injury Claims Go To Court. Here We Look At The Pros & Cons Of Settling Out Of Court
All personal injury claims and lawsuits are different. Regardless of what your case is, you may be entitled to recover compensation for damages, pain and suffering, and loss of income, among others, due to an accident. Personal injury cases occur when someone else’s negligence caused harm to someone else. This includes serious injuries that may cause the victim to end up with large medical expenses and physical and emotional distress damage. However, you must know that not all personal injury cases end up in court. If your injuries are really severe you may need to hire a personal injury lawyer to negotiate your settlement amount. Settling out of court can be way quicker. Additionally, it’s best when you have an experienced personal injury lawyer who has experience negotiating a settlement.
What Is Settling Out of Court?
An out-of-court settlement is when instead of appearing before a judge, your attorney and the liable party’s attorney will come to a resolution outside of court. Normally, this happens after both parties have negotiated and reached an agreement on the value of the settlement. Your lawyer will consult with you along the settlement negotiation process. He will also get your permission to engage in further negotiations and offer settlements to the other side.
What You Need to Consider
It may be tempting to settle your personal injury case out of court. But, there are several factors that are important to take into consideration before accepting the other party’s settlement offer. Your attorney needs to review very crucially information to determine if your case is strong enough and what the odds would be to win in trial. Your lawyer also has to consider the potential amount of the compensation and compare it to the settlement offer.
In order to determine if settling out of court is the best option for you, here are some pros and cons you can consider:
Pros of Settling Out of Court
The best advantage of settling your case out of court is you receive a guaranteed amount for your injuries without going to trial. If your case ends up going to court, the majority of settlement offers are off the table as soon as the trial starts. This means you’re risking losing not only the amount that was settled but you could potentially end up owing costs if the judge rules in favor of the other party. Check out an example of a case where you could easily settle out of court here.
Saves Time and Stress
Settling out of court can save you months or even years from appearing during and before trial. You’ll have peace of mind knowing your compensation is set without dealing with the time and stress of an ongoing lawsuit. In addition, you don’t have to wait for the check to pay for any medical expenses.
Protect Your Privacy
If you settle out of court you won’t have to be publicly exposed. If you take your case to trial you expose a lot of personal information that can come under scrutiny.
The Finality of the Decision
Most people don’t realize that a court settlement can be appealed by the defendant. However, if you settle out of court, the final outcome cannot usually be appealed. Additionally, if a case is appealed, it will make your case go on and on for even longer, leading to more time and legal fees.
Cons of Settling Out of Court
Less Award Money
When an insurance company knows that their client is at fault for your accident they will often offer you a settlement. They also know you will likely win a larger amount if you go to trial. This is when the services of an experienced attorney are key in evaluating how much your claim is worth. They can advise you about what’s the best strategy to generate the greatest compensation.
No Punitive Damages
In some cases, if the court finds the defendant guilty of gross negligence or bad faith, the victim may get punitive damages. However, these types of damages will often not be reflected if you settle out of court. You need to consult with a personal injury lawyer to determine how strong your claim is. Also, to receive a better court judgment than the settlement offer.
No Admission of Liability
Most times, the settlement release includes a clause that the defendant is not admitting guilt for the accident. Some victims really wish for an apology or to have their trial just to receive a written judgment that says the defendant is liable. When you settle out of court you won’t have the opportunity of going to trial and have a written judgment.
Consult With Our Experienced Injury Lawyers In Las Vegas
Not sure about whether to settle out of court or not? You can consult with one of our professional personal injury lawyers at Cogburn Law today. Call us at (702) 748-7777 and get the compensation you deserve!
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