In the beginning stages of a personal injury lawsuit, you may receive a settlement offer. Sometimes, this will come from the insurance company of the defendant. Car accidents, for instance, are among the most common cases where a settlement is offered in advance.
It can be tempting to accept an offer as soon as you receive one. After all, you want your money as quickly as possible. This is not always a good idea, however. There are reasons why you might want to say no to a settlement.
Why Should You Say No?
Many insurance companies will try to pay you as little as possible. They may offer you a low sum of money in hopes that you won’t want to fight it. You deserve fair compensation. When you receive a settlement offer, talk to a lawyer. Your lawyer can tell you if you have a better shot at receiving a higher settlement when you take the case to trial. If you have a strong case, then you should not have to accept a low offer.
What Happens if You Say No?
If you reject a settlement, you can make a counteroffer. There is a chance that your offer will be accepted. If this is the case, then you would settle for your counteroffer. If the insurance company or plaintiff refuses the counteroffer, you are back to square one. There is a chance that you will go back and forth in negotiations until you come up with a settlement that you both appreciate, but odds are if you keep refusing, you will have to take the case to trial.
A trial is always an option when it comes to filing a personal injury lawsuit. If you cannot reach an agreement, then you will have to take the case to trial and argue your evidence in front of a judge. Then, the court will decide whether the defendant must pay. The judge will also determine how much your settlement should be.
Handling settlement negotiations can be stressful and difficult. How do you know when it is a good idea to accept an offer? If you have a personal injury lawyer to discuss your options with, then you will also be able to ask for advice on when to accept a settlement. Consult with a lawyer, like a personal injury lawyer in Rockville, MD from the Law Office of Daniel J. Wright, today to find out more about your settlement.