Settlement Negotiations & Lawsuit Funding
If your attorney is in the middle of negotiating a lawsuit settlement and you can’t wait, apply for lawsuit funding with LawLeaf. LawLeaf provides pre settlement funding to clients involved in the negotiation stages of their lawsuits. If you have filed a personal injury lawsuit or involved in an injury claim, you may be approved for a lawsuit cash advance against your case. Lawsuit funding is only available to those plaintiffs that have a lawyer.
One of the major benefits for hiring an attorney is their ability to negotiate. A great attorney is not only a good litigator but a very competent negotiator. Statistics show that the vast majority of all personal injury related cases are settled through negotiation and not through litigation. While hiring an attorney that is a tenacious litigator is extremely important, an effective negotiator is also critical in any type of insurance claim or lawsuit.
When a person is involved in an accident resulting from another person’s negligence, they have a choice to hire an attorney or handle the claim on their own. While most victims may be confident the other party is liable, it may not be clear of how much they are entitled. And while some people may be capable of going through the process, the experience of negotiating a personal injury settlement is likely out of their comfort zone.
Negotiating a personal injury claim is unlike any other type of settlement. There are thousands of claims that are filed each month and many require intense negotiation between all parties involved.
When filing an injury claim your attorney or you (if handling the case on your own) will work directly with the insurance adjuster. The insurance adjuster is the person that puts a value on the claim. The first step in the negotiation process is submitting a demand letter along with supporting documentation to the insurer. An experienced attorney will have a in depth knowledge of how a letter should be written and what should be included in a demand letter.
In the demand letter an attorney will include an offer to make the case whole. During the first call it’s likely the adjuster will argue the strengths and weaknesses of the claim. If the adjuster decides to make an offer on the first call it’s likely it will be less that what was requested in the demand letter. If the adjuster and plaintiff can’t come to an agreement the insurance company may send a letter to you or your attorney with their intentions to further investigate the claim.
If you are handling your case on your own the first offer will almost always be lower than if you have an attorney. This is a tactic that is used by insurance companies throughout the United States. They will also try to offer fast and smaller settlements soon after an accident occurred. This tactic is used in hopes you avoid hiring an attorney. If you understand what the case is really worth you should always make a counteroffer.
Regardless of who is handling a settlement, part of negotiating a settlement is having an understanding of the reasoning behind a low offer. A good negotiator should ask the adjuster to provide them with reasons of why the settlement offer is low. You should immediately prepare a letter and include your response to their reasoning. This will show the adjuster that you are serious about the claim.
The insurance industry has leverage because they hold the money. They can sometime entice people into making horrible decisions because they are desperate. Even if you are in a situation where you can’t financially sustain, you should always be serious in negotiating the highest possible offer.
The plaintiff also has leverage because they can threaten to file a lawsuit. When an attorney is handling your case the adjuster is aware if the two sides can’t come to an agreement, litigation is likely. If a case goes into litigation the expense of court costs and a larger payout may force the adjuster to budge on an offer.
Settlement negotiations take place at all facets of any injury claim. The two sides will negotiate from the first letter to the last call. If you are about to get involved in the negotiation process you should be prepared to assemble a strategy. Use this strategy throughout the process and at all costs, don’t stray away from the ultimate goal; getting the largest possible settlement.
At LawLeaf we believe that some settlements can be negotiated without the help of an attorney. We also believe if you were hurt in an accident and you are seeking not only property damages but medical expenses and loss wages, it would be advantageous to hire an attorney that is an experienced negotiator.
If you have an attorney and currently going through the negotiation process for a lawsuit settlement, contact us today. We provide pre settlement funding options. If your attorney recently negotiated a settlement, and you are waiting for your cash award, we can provide settlement loans as well.
We provide legal financing and settlement cash advance services throughout the United States: Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming and the District of Columbia D.C.