When I was in a car accident November 18th of last year. I hired an attorney in January and I have a good case. It seems like it's taking forever for me to get the money that is rightfully mine. How long do these kind of cases last and when should I expect my claim to be settled? I need the money now so I can start my life. Is there any way to speed up the process and also, could I get loans from my lawyer if he KNOWS I am getting a big settlement? He says he's just waiting for Geico to settle. I am really growing impatient and I need the money ASAP.
Answer
Any time you hire an attorney the claims settlement process takes a longer. Instead of you talking directly to the insurance company - the insurance company talks to the attny - the attny talks to you - the attny gets back to the insurance company and so forth. Kinda like the kids game "telephone".
Your attny should have explained the process to you - but here goes: Once you are completed with all your medical treatment and have been released from the dr - your attny's office will order copies of your medical bills/records. This can easily take 6 weeks to get in. I've had some dr offices take 6 months to get records to me but 6 weeks seems to be an average in my area. The more treatment - the more providers- the more records to gather - the longer it takes.
Once the records are in - the attny office will put together a demand package. This includes photos, police report, medical bills/records and attny letter/demand. How long this takes depends on how busy your attny is. I've called some attny offices looking for the package tell me that they have gotten the records in and are putting the package together and I'll get it in the "near future". 2 months later - I still don't have it.
Once the package goes out - it is sent to the adjuster to review. Again, depending on the size of the package and how busy the adjuster is - it can easily take 1 month for the adjuster to review the package and get back to the attny with an offer.
If there is information missing from the package -the adjuster will call the attny and request the missing information. The process starts again.
Once the adjuster has reviewed a completed package and no information is missing - negotiations begin. At some point, the attny will get with you about the insurance company offer - and then get back with the adjuster. How long this takes depends on you and your attny.
Once a settlement is reached, the adjuster will send a settlement check and release to your attny. The attny will usually deposit the check into a trust account and have you sign the release. He will return the release to the insurance company. At this point - the insurance company will close their file.
Now, your attny will talk to the medical providers and try to get them to reduce their medical liens. The settlement check has to pay 3 things 1. your medical bills, 2. your attny for his services, 3 whats left goes to you.
So the attny has to deal first with the medical providers. If he can get their liens reduced that means more money for you and him. Again, medical providers are also busy people - your claim is not the only one they are working on. Can't tell you how long this process takes - but since a good bit of it is in writing - expect it to take weeks/months.
Once the medical liens are dealt with - then the attny disperses the remainder of the funds you you and to him for his services.
Some attnys or their clients get the bright idea to file a lawsuit - thinking that will make the insurance company get out the magic pen and things go faster. Not the case. All a law suit does is bring the above process to a screeching halt. Now before you even get to the above steps your going to have to go through discovery. Law suits usually take 2-5 years to be resolved.
Also - insurance companies are NOT threatened by lawsuits. We deal with them and attnys all the time. So an attny sending me a letter threatening to sue me - means a whole lot of nothing and is obnoxious.
So -- long story short - this is a claim - not a lottery - it ain't fast money. If you need money to "get on with my life" - get a job.
Credit Yahoo Answer
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