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If hurt in a car accident, is a legal settlement right for me?

Accepting a legal settlement is no small thing. In fact, when you agree to a legal settlement you are saying that you promise not to bring a legal claim against the defending party in exchange for compensation. Though this compensation might help cover your medical expenses and lost wages, it also means that you cannot sue them in the future for harms relating to the accident that was settled.

Keeping this in mind, should you accept a legal settlement? It really depends on the circumstances surrounding your case, the amount you have been offered, and what you feel comfortable with. With that in mind, this post will briefly discuss legal settlements, how they can be beneficial, and how to assess whether or not it is right for you. However, it is important to understand that this post is not legal advice, and that you should consider discussing your unique case with a personal injury attorney before making a decision.

So, how should you assess whether to accept a claim? First, look at how strong your claim is. An attorney may be able to help you assess how similar cases have turned out as well as your chances of winning at trial. An experienced lawyer may also be able to help you find any weaknesses in your or your adversary's evidence.

Second, it may be helpful to discuss with your attorney just how much your claim is worth. This will help you assess whether a settlement offer is somewhere in the ballpark. Third, it might be helpful to determine the defendant's financial resources. If it a company with deep pockets, for example, then that will help you and your attorney know if the settlement offer is reasonable.

There are many other things to consider before taking a settlement. You might want to assess the length of time it will take to go through litigation and the amount of stress that could come into play. Settlement isn't right for everyone, but by discussing the matter with your attorney you might get a better feel for if it's right for you.

Source: FindLaw, "Resolution Before Trial: Settlement," accessed on Apr. 9, 2015

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