How to File a Claim with Asbestos Bankruptcy Trust Funds
The first asbestos bankruptcy trust fund, the Manville Personal Injury Settlement Trust, was founded in 1986. Johns Manville declared bankruptcy due to numerous lawsuits submitted against the company. Other asbestos manufacturers followed, in later years, the same procedure.
Prepare the claimYou must have a formal diagnosis as evidence of your asbestos-related disease, regardless of the bankruptcy trust fund which will process your asbestos claim. The accurate and reliable diagnosis, as well as a detailed description of your affection, will be given by your doctor. Your doctor will further conduct a thorough physical examination and order tests to evaluate your condition, such as a CT scan, X-rays, and a biopsy.
Pay attention to your state's statute of limitation for asbestos cases. The statute of limitation varies between 2 and three years from your first diagnosis, depending on your state. Consequently, claims submitted after that period has elapsed will not be approved.
Contact a lawyer who specializes in asbestos exposure casesEven though you can file a claim on your own, choosing a knowledgeable attorney with vast experience in asbestos cases will ensure the best outcome. The settlement history of your counsel can influence the amount you will receive from asbestos bankruptcy funds.
Your attorney will guide you through the entire claim process and will provide permanent assistance, from the moment your asbestos claim is submitted to its resolution. Your lawyer will also help you prove specific details regarding your exposure and the company you worked for and take care of all the required documents.
Certain factors may affect the value of your case, including the asbestos products you were exposed to, the company you were an employee of, your location, whether you are a veteran or not, your diagnosis, and your age at diagnosis. If you suffer from mesothelioma, the likelihood of receiving a substantial payment is very high due to the severity and aggressive nature of this disease.
Submit the claimAfter gathering all the necessary details, your lawyer will make sure your case meets the eligibility criteria of the trust fund and will file your claim. Claim processing may take several months, depending on the number of claims the trust has to deal with and on the complexity of your case.
If your claim is deemed valid, which happens almost whenever an experienced lawyer assists a claimer, the asbestos bankruptcy trust fund will determine the amount of compensation you are eligible for, and you will begin to receive monthly payments.