Cherry Hill Car Accident Settlement Process
Being involved in a car accident is a frightening experience. Following an accident, there are a lot of logistics to work out, especially if there is a negotiation for a settlement. However, you do not have to undergo that process alone. If you wish to start the Cherry Hill car accident settlement process, then reach out to an experienced car accident lawyer who can walk you through the various dynamics of settling a car accident case.
Beginning the Process
At the beginning of the Cherry Hill car accident settlement process, if there is a negotiation to arrive at a settlement, once there is a settlement reached, there is paperwork that is signed and it is important to understand that once a person settles a case, the person will be signing a document called a release. In return, for giving up that right, the person is going to receive a monetary amount. The process would be an execution of a release and then ultimately, the receipt of the check in return for the person’s signature on release.
Cherry Hill is a comparative negligence jurisdiction. Comparative negligence is when a party that may have been injured is evaluated to determine whether or not they are partially responsible or comparative negligent for their own injury. Under New Jersey law, specifically the law in Cherry Hill, if someone is to bring a claim and there is an argument that they could be comparative negligent, it means they would bear some responsibility under the law. If somebody is comparative negligence greater than 50%, they would be barred from making any recovery.
Determining the Settlement Amount
In the Cherry Hill car accident settlement process, a negotiation process is important. Negotiation processes typically involve the injured party making a demand of what they would think is reasonable under the circumstances that they would be willing to take a lump sum figure to end the claim and their lawsuit and walk away. The defense or insurance company or defendant typically counters and the negotiation ensues. Ultimately, it is the client who decides whether or not the numbers that are can be agreed upon are fair numbers. If it is not a fair number then the client will make the decision to proceed to trial.
How is Settlement Calculated and Is the Jury Involved?
The jury has no involvement in the way a settlement is calculated in the sense that the parties negotiate. The negligence on the part of the injured person could affect the settlement amount because of the concept of comparative negligence which means that the person may bear some responsibility for the injury.
The person’s damages need to be reduced by a near degree of negligence. That could the affect the settlement amount. Cherry Hill lawyers determine the value of the settlement by analyzing the facts of the case or applicable law and the ability to prove the types of damages that were incurred.
Timeline of a Settlement
Every case is unique and whether or not a settlement could be reached depends on the facts and circumstances. If a settlement is ultimately reached, the paperwork process can be expedited by simply getting the document signed and returned to the other side as quick as possible.
Sometimes insurance companies are entitled to be paid back or Medicare or Medicaid is involved and simply trying to obtain information from these entities and confirm the amount of the lean can delay the settlement process.
Things to Account for When Considering a Settlement
The injured person should take into account when considering a settlement, the ability to prove the other party responsible, their own comparative negligence, the degree of their damages, the risk of jury trial – because a jury may not value the person’s injuries as much as the person may think they are worth – and the risks of adverse rulings by a judge that could impact the person’s case at trial.
The things that must be considered when negotiating a settlement are whether or not there are any liens which means whether or not money needs to be paid back to an insurance company or union or anybody who may have gone out of pocket to pay some of the damages. Lost wages, disability claims, things of that nature may be entitled to be paid back. Those must be factored in when considering a settlement.
There is always the risk of an appeal which means if the person gets a favorable verdict, the defendant could appeal and it could take many years for that case to resolve as a result of that appeal. These are the considerations for a settlement. A skilled accident attorney can take into account all of these considerations as they guide you through the Cherry Hill car accident settlement process.