What Can Delay Post Settlement Payment?
Posted by BlackDiamondFunding on June 25, 2014
When mediating a settlement or facing trial over an injury that was done to you by someone else's negligence or deliberate act, the most excruciating experience can simply be the wait. Complex personal injury, auto accident, premises liability, construction injury and - especially - medical malpractice lawsuits can take months or even years to be decided. Meanwhile, your medical bills are stacking up and your injuries may render you unable to work, forcing you and your family in to debt in order to simply cover day-to-day expenses.
That's why lawsuit funding has become such a popular and effective option. If approved, you can get money you need to keep you and your family afloat financially until you're able to land a settlement that gives you fair compensation for your injuries and losses. But even after a settlement is handed down or agreed upon, the wait may continue. Here's why:
- Large settlements often are amortized and/or extended to give the defendant more time to come up with the cash;
- The losing party may appeal a jury's decision in an attempt to have the decision overturned or simply to delay payment to you;
- Though it's rare, it's not unheard of that a settlement check will bounce. So, even when your settlement check has been issued, you may have to wait a minimum number of days for the check or bank draft to fully clear before it's in your hands. Also, depending upon your agreement, attorneys typically will take their fees and expenses from the payment before giving you your share.
Depending upon your unique case, this process can take anywhere from a few months to several years. If yours is a medical malpractice case, you likely are looking at multiple years before it's tried or settled, as these typically are complex cases and hospitals no doubt have teams of high-dollar attorneys working to mitigate their financial losses - potentially at your expense.
Meanwhile, you remain responsible for bills and fees that you may be unable to pay without upfront lawsuit settlement funding. That's where Black Diamond Funding comes in. We can help land you the money you need to continue life as you know it while your case plays out in court or at the mediation table. If you're looking at a lengthy wait for fair compensation for your injuries and losses, call 844-352-2274 to speak with a Black Diamond Funding specialist today.