I just settled my personal injury case on thursday through a mediation. I signed off on the paper work with my lawyer now about how long does it take to receive my settlement. All medical bills have already been paid prior to the mediation. This was just to cover pain and suffering.
I asked my lawyer how long it would take he just said he'll try and make it as fast as possible. I jus want to know typically how long does it take or how long can it take.
Car / Auto Accident Lawyer
Congratulations. If your settlement documents do not state a time for payment, it typically takes 1 to 2 weeks for a settlement check to come. I suspect you may have more paperwork to sign such as a release document that will arrive with your settlement check. It will be necessary for your check to clear before your lawyer can give you your net settlement after fees and costs are deducted. This entire process can take 2 to 4 weeks generally. Some states have requirements that the check is not "late" unless it is more than 20 days after the release is signed. Your lawyer will know your state law and has every incentive to get the matter handled promptly. For more general injury law information you may visit my website at http://www.bryancaulfield.com/
Car / Auto Accident Lawyer
It is not uncommon to specify a date by which the settlement funds will be sent to you at the time the case is resolved. If that did not happen, checks usually arrive in my experience within 1-2 weeks. Occassionally, it can take longer, but 1-2 weeks is not uncommon.
This answer is offered for informational purposes only. It is not offered as, and does not constitute, legal advice. Laws vary widely from state to state. You should rely only on the advice given to you during a personal consultation by a local attorney who is thoroughly familiar with state laws and the area of practice in which your concern lies.
Medical Malpractice Attorney
If you're represented, as your question suggests, ask your attorney. She's in the best position to know (a) whether the time line was specified in the agreement; (b) how long the defendant (possibly insurance company) takes to send checks; (c) if the check goes to the lawyer first, how long she takes to process it (for example, deducting her fees and expenses and cutting you a new check). She may even have advice on ways to speed up the process, such as if there is any paper work she would execute with you once the check arrives, so that you can do that now.
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Disclaimer: I am a lawyer licensed in the State of Ohio only, and I am not your lawyer (unless you have been in my office and signed a contract). This communication is not intended as legal advice, and no attorney client relationship results. Please consult your own attorney for legal advice. This is for informational purposes only.
Usually, the mediated settlement agreement will contain provisions that describe when the settlement money will be funded (for example, with a certain number of days after a case has been dismissed, or after all additional paperwork is done). Take a look at your settlement agreement and this might give you a better idea. There is no "standard" amount of time for the disbursement of funds, as each matter may have different time-tables. Obviously, your attorney is the best person to give you an estimate of how long it will take to get the settlement funded.
Please note that the above general comments do not in any way constitute legal advice.
Personal Injury Lawyer
Insurance companies like to hold onto the money as long as they can because they earn interest on it as long as they keep it. The best way to deal with the timetable for payment is to negotiate it at the time of the settlement and then to put it into the written release as a term. If this is not done, then very often your attorney will be able to secure payment quickly by simply discussing it with the adjuster. I have had payment made within days of settlement, but it is not uncommon to take 30 to 60 days.