Are workmans comp settlements paid at the settlement signing ?

Asked 11 months ago - Detroit, MI

settlement from the employers insurance co. agreed to take there settlement offer.and going to sign the settlement agreement.

Attorney answers (6)

  1. Thomas H. Rosenhagen

    Contributor Level 8

    6

    Lawyers agree

    Answered . No. There is a 15 day statutory appeal period that must pass before the funds will be sent. There are circumstances, however, where the 15 day appeal period can be waived but only for a very good reason. You should plan on about 20 days before your funds arrive (4-5 days for mail delivery). Good luck.

  2. John M Connell

    Pro

    Contributor Level 19

    6

    Lawyers agree

    Answered . I will defer to the Mich attys here but in my state and most others they are paid within 15-30 days of the date the settlement agreement is approved, (here it would be approved by the state div of wc) not when it is signed.

  3. David B. Carter Jr.

    Pro

    Contributor Level 20

    4

    Lawyers agree

    Answered . No.

  4. Bret A. Schnitzer

    Contributor Level 16

    4

    Lawyers agree

    Answered . John Connell is correct. The redemption needs to be approved by the work comp magistrate and you will get your check within 15-30 days unless the appeal period is waived by a separate hearing.

    You should consult an attorney in your State at once. This response does not constitute legal advise outside the... more
  5. Charles Joseph Michael Candiano

    Pro

    Contributor Level 20

    5

    Lawyers agree

    Answered . No. The Settlement must be approved by the WCA and then forwarded to the insurance company for payment. If you have an attorney, the funds will be paid to you AND your attorney so check will have to clear his bank BEFORE he can write yours.

    If this information has been helpful, please indicate by providing feedback that the answer was either "helpful"... more
  6. V. Jonas Urba

    Pro

    Contributor Level 13

    3

    Lawyers agree

    Answered . Workers' compensation operates according to state law. In some states judges approve all settlements and the carrier will not lawfully pay you until that happens. Some states permit a small window to change your mind and will therefore not pay you until that time passes. Some carriers' (insurance company) home offices print the bank drafts and they might be across the country and sometimes they will deliver the draft to their legal counsel for review and/or distribution. So every state is different and every case is different.

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