There are many things to consider when you decide how to move forward with your personal injury case. One of the most difficult decisions is often whether to settle with an insurance company or take the case to trial. The truth is that every case is different, but there are some general pros and cons to both options. Read on to learn what they are and then contact The Law Offices of Larry H. Parker at 800-333-0000 for a free legal consultation.
The Advantages of Settling a Lawsuit (And the Disadvantages of Going to Trial)
There are a few benefits you can enjoy by choosing to settle your personal injury lawsuit rather than going to trial. If you settle, then you will know the terms before you agree to the settlement. This allows you to avoid the unpredictable outcome of a trail. Remember that no matter how rock-solid your case might be, juries can be unpredictable.
When you choose to settle, you will generally get your money much faster than you would in if the case went to trial. In most cases, the check is issued to you (or your attorney), and the settlement is not legally valid until that check clear. On the other hand, even if you do win a lawsuit, there is no guarantee that the defendant will have the money to pay you or that they will turn it over to you without a fight.
Attorneys’ fees are lower if there is no trial, and settlements can often be much less stressful compared to a trail. In most cases, settlement terms are confidential, while trial information is made public. This can be an issue if your case involves something potentially embarrassing.
Finally, a trial is simply a gamble for both sides. Studies show that the average plaintiff who passes up a settlement offer and goes to trial gets $43,000 less than the settlement. Defendants are more likely to fare well, but when they lose, they pay an average of $1.1 million more than if they had settled.
The Advantages of Going to Trial (And the Disadvantages of Settling a Lawsuit)
The main reason people choose to go to trial after a car accident or other personal injury accident is that they could potentially get more in damages than the amount they are being offered as a settlement. Others go to trial because settlements often do not require that the at-fault party admits any wrongdoing, and the plaintiff wants the court to publicly state that the defendant was in the wrong. Many people also find that going to court can be cathartic and give them a sense of closure.
If you are on the fence about whether or not you want to take your case to trial, the first thing to do is to contact The Law Offices of Larry H. Parker at 800-333-0000 for a free legal consultation. We will listen to your case, consider the evidence, and advise you on your best options to move forward.