Getting a settlement check is usually a huge relief, not just financially but mentally. It signals the end of the claims process, puts money in your pocket, and hopefully gives you a little stability as you deal with expenses related to your accident. But it’s also important to look at where else that money goes. Ylla Gosney, Attorneys at Law is here to answer your questions and give you legal support after an accident in Oklahoma. Contact us today for a free consultation.
Where Does My Settlement Check Go After I Accept a Settlement?
Before you even begin your case, we’ll meet with you to lay out the scope of what will happen if and when you get a settlement. Like most personal injury firms, we work on a “contingency-fee” basis.
This means that:
- You pay nothing upfront
- We take our fee as a percentage of whatever result we get for you
As we point out in our video, our fee is usually ⅓ (33%) of whatever settlement you get. While a settlement is a lump-sum payment most of the time, there’s a lot of different things that are taken into account in terms of where that money goes before it reaches you:
- Bills are paid – If you have unpaid medical bills or other costs related to your case, your lawyer will pay those from the settlement.
- We take our fee – Your lawyer takes their fee, which is a percentage of the settlement, as well as any costs from handling the case.
- You get the rest – After those payments are made, the remaining money is sent to you.
Remember, every situation is different. This includes the terms of your settlement. While the above steps are pretty general, your expenses and other fees aren’t going to match another client’s. That’s why it’s important to work with our team and maximize your settlement.
How Do I Know What I’m Getting in My Settlement?
Maximizing your settlement isn’t meant to be seen as being greedy, it’s about paying for your losses and making sure that your settlement covers everything you’re going to need as you move forward with your life.
One way that we let you know what you’re actually getting in your settlement is by itemizing and listing all the things that come out of your settlement in a “disbursement.”
This is a document that we put together for you to sign, listing the following:
- The total settlement amount
- Any bills and other deductions (like taxes)
- Our fee
- Your “take home”
The disbursement makes sure everyone who needs to be paid gets their money first, and then you receive the rest of the settlement. Our team always keeps your needs at the forefront of any settlement, so you’ll know exactly how much you’re getting and where else that money is going to go before you even sign the settlement agreement.
Free Consultations For Oklahoma Injury Victims
Nobody wants to get hurt in an accident in Oklahoma, but when it does happen, Ylla Gosney can help you through the process. When you get a settlement check, it’s a great day for everyone involved. If you want to explore your legal options after an accident, contact us today for a free consultation.
