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Are workmans comp settlements paid at the settlement signing ?

Detroit, MI |

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

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Attorney answers 6

Posted

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.

Posted

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" or "best answer" as appropriate. Legal Disclaimer: Mr. Candiano is licensed to practice law in Illinois and Indiana. The response herein is not legal advice and does not create an attorney/client relationship. The response is in the form of legal education and is intended to provide general information about the matter within the question.

Posted

No.

Posted

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.

Posted

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.

Posted

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 State Of Michigan and is not intended to establish an attorney-client relationship with our offices. It is for informational use only of the general laws in the State of Michigan, only. To retain our offices, you need to sign a contingency contract with us. We do offer free consultations and we can refer clients to lawyers in your State if you call us. Visit our webpage and tell us what you think. www.schnitzerlaw.net

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