How Long Does It Take To Get Paid?

Congratulations! Your claim has been resolved and a payout will be headed your way. With the many medical expenses and other costs related to an injury, the funds from a personal injury claim are essential to staying on the path to recovery.

While we understand that it’s important for you to get your money as soon as possible, there are a few things that must happen before ​it hits your bank account.

The process for a payout is different for settlements and verdicts. ​Settlements are legal agreements made between you and the person or business you’re suing outside of a courtroom. A settlement can sometimes happen during a trial, but is separate from the court proceedings​. A verdict is the final decision made by a group of jurors when your case goes to court. This is the point in your trial when we find out how much money you will be awarded.

​Simply put, a settlement is an agreement made between you and the other party involved in your case, and a verdict is a decision made by a jury at the end of a trial.

Getting Paid from a Settlement  

The vast majority of personal injury claims are resolved by a settlement. While Morgan & Morgan attorneys are unafraid to go to trial, ​taking it to the courtroom only becomes the right option when the other side isn’t playing fair and is offering less than you deserve.​ Sometimes, a fair settlement offer is made and your case can be resolved without going to trial.

​After a settlement is reached, a few things need to happen for you to receive your final payment. Here’s how it works:

• You’ll sign a release. ​First, you’ll need to sign a form that says you won’t pursue any further damages or compensation from the defendant’s insurance company. ​This protects the defendant from any more lawsuits for the same injury in the future. 
• After the release is signed, the defendant’s insurance company will issue the “settlement funds.” Your settlement funds are usually issued in the form of a check made payable to both you and the law firm, and sent directly to your legal team. 
• In some states, your legal team will deposit the check and use some of those funds to pay for your case costs, medical liens and bills, and attorneys’ fees. In other states, it’s your responsibility to pay those debts. ​After those costs are deducted, the remainder will be the final recovery amount that you can take home.  
• Your ​legal team will send you a “closing statement,” which includes a detailed summary of how much money will be allocated to pay for the legal fees, case costs and other expenses relating to your case.
• After you sign the closing statement, those payments will be made on your behalf and the remainder of the settlement will be paid to you. Sometimes these funds are tax free! Ask your attorney if you should expect taxes to be taken from your settlement. 
• Then you receive your settlement money! ​Payments are issued 7-10 business days after the closing statement is signed, either via paper check or direct deposit. It’s up to you.

If everything goes according to plan, you should receive your check within 60 to 90 days after the release is signed. S​ome cases are more complicated than others, and it can take more time to complete your settlement. Your attorney will work to keep you updated. You are always welcome to reach out to your legal team about the status of your settlement.  

Getting Paid After a Verdict  

Sometimes, taking your case to the courtroom will give you your best chance of a fair outcome. Trying your case before a jury might make things take longer, but it may give you a chance at a larger award.

​After the jury makes a decision or “verdict,” the judge will create a binding legal document called a judgment. If the jury decides in your favor, the losing side may try to delay or overturn the judgment by either asking the judge to change it, or asking a higher court to throw out the decision entirely. This fight can drag things out for months or even years.

Once your legal battle finally ends, getting paid from a verdict is similar to getting paid from a settlement (with a few differences):

• You don’t need to sign a release form. A release form is a document that says you won’t pursue any further money for this injury, but since you can’t bring a case in court twice anyway, it’s not necessary in a verdict.  
• A check will be issued and sent to your attorney.  
• In some states, your legal team will deposit the check and use some of those funds to pay for your case costs, medical liens and bills, and attorneys’ fees. After these costs are deducted, the remainder will be the final recovery amount that you can take home. In other states, it’s your responsibility to pay those debts. 
• Your attorney will deduct legal fees and costs from the final payment. Legal fees and costs include court costs, expert witness fees, and their own fee for representing you. This is typically a percentage amount you agreed to before they took on the case. 
• Your legal team will send you a “closing statement,” which outlines all of the expenses mentioned above and how much money is left. After you sign the closing statement, those payments will be made on your behalf and the remaining funds will be paid to you. Sometimes these funds are tax free! Ask your attorney if you should expect taxes to be taken from your verdict.  
• Then you receive your verdict money! Payments are issued 7-10 business days after the closing statement is signed, either via paper check or direct deposit. It’s up to you.

​​As we mentioned, sometimes the person or business you’re suing will appeal the verdict, which can push a payout by months or even years as the case goes through the appeals process. This usually does not happen though. Talk to your attorney to understand what this may mean for your case specifically. 

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​Justice served.  

No amount of money can compare to what’s been lost, but securing a settlement or verdict can hold people accountable and reduce your burden on the path to recovery.   

Want to understand more about how it all works? Just give us a call anytime.  

Disclaimer: This website is meant for general information and not legal advice. The above information may vary state by state, and may not be applicable in particular states.