March 2, 2023

5 Things That Hold Up a Personal Injury Settlement

By Jonathan Damashek

Posted in

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After suffering devastating injuries caused by someone else’s negligence, you may be hoping to get your personal injury settlement paid out as soon as possible so you can cover your costs and begin to heal from your injuries.

However, even though you may hope to obtain your payout quickly, many factors could impact the amount of time it will take to access your personal injury funds.

#1: Circumstances of Your Case

Many people quickly assume receiving payment for a personal injury settlement will soon happen. However, in cases where injuries may be minor, the cause of the accident is more apparent, and fewer facts in dispute will typically result in quicker payment.

However, it is more challenging to determine liability in cases with disputed evidence. In situations where the victim has suffered severe injuries that could significantly impact their life, it is more likely for the personal injury settlement to be delayed.

#2: Length of Your Medical Treatment

Many times, before the insurance company is willing to pay out on a personal injury settlement, they want to be sure that the victim has reached maximum medical improvement (MMI).

In this case, the insurance company will refuse to negotiate a personal injury settlement until they know how much the cost of your ongoing treatment is or what the cost of your future medical care may be.

Without having made a full recovery, your attorney will find it difficult to determine how much to seek in compensation for your medical expenses. For this reason, your personal injury settlement could be delayed while you heal from your injuries.

#3: Insurance Company Delays

Insurance companies are responsible for processing claims. Insurance companies are profit-driven, so they will be poring over your claim looking for opportunities to deny you the benefits you would otherwise be entitled to but may not know about. The insurance company investigating your claim could delay processing your personal injury settlement payout.

Negotiating Settlements Can Slow Things Down

Even after your claim has been processed, negotiating with the insurance company can take time. It is not uncommon for insurance companies to attempt to reduce their financial obligation and pay you less than you deserve.

Unfortunately, the negotiation process could result in a longer personal injury claims process and the payout of your personal injury settlement.

Intentionally Delaying the Case

When liable parties or insurance companies are financially obligated to compensate you for your damages, they may be holding out on settling your claim in the hopes of forcing you to accept a smaller dollar amount or settle your case sooner. They understand that you are struggling to cope financially and desperately need financial relief.

Some of the more common ways defendants may attempt to delay the processing of your personal injury claim include:

  • Filing a frivolous defense
  • Avoiding being served
  • Refusing to comply with discovery
  • Moving assets
  • Postponing meetings and depositions

#4: You’re Asking for a Large Settlement Amount

The more money you ask for in your personal injury settlement, the longer it will take to receive your payout. Many factors will be under scrutiny, including:

  • The severity of your injuries
  • The extent to which your injuries have impacted your life
  • The defendant’s liability
  • The insurance company’s financial obligation

#5: Building a Better Case

If you hope to build a powerful case against the liable party and prove negligence, it could take time to gather evidence. Your attorney will need to investigate the cause of your injuries in-depth, interview witnesses, and hire experts to testify on your behalf. The more evidence required to support your case, the more likely you will be compensated fairly for your damages.

However, gathering the valuable evidence needed to prove fault in your personal injury claim may take some time. This could delay the processing of your settlement.

New York’s Statute of Limitations

According to New York Civil Practice Law & Rules section 214, the statute of limitations for personal injury claims in the state of New York is three years. You need to be aware of the statute of limitations, so you do not miss out on your opportunity to recover compensation for your damages.

In most circumstances, if your claim is not filed before the statute of limitations expires, you will be barred from having your case heard within the New York civil courts.

Call a New York Personal Injury Lawyer

When you want to obtain your personal injury settlement as soon as possible, you need an assertive legal advocate on your side who will stop at nothing to secure the benefits and compensation you are entitled to.

Reach out to our New York personal injury lawyers at Hecht, Kleeger & Damashek, P.C. for a free consultation today. You can reach us by phone at (212) 490-5700 or through our quick contact form to schedule your confidential case review.