If you take a look at statistics, you quickly notice that most personal injury claims end up being settled out of court. This is because of the numerous advantages that are associated with this. Every single person involved in the case has an interest in settling. While interests do vary, the goal is almost always the same, to finish the case as soon as possible.
If you want to learn why settling might be best in your case, personal injury attorneys at www.stoneinjurylawyers.com from Natick MA showcase the following as being some advantages you need to be aware of.
Litigation Is Very Expensive
The plaintiff hires an attorney on the basis of a contingency fee in most cases. This includes a settlement amount of up to 33% during pre-trial and up to 40% after a trial. The defendant hires attorneys and pays an hourly fee. Both of these things mean that if a trial is happening, it becomes very expensive. This is especially the case since litigation involves more costs, like travel costs, court costs, and hiring expert witnesses.
When a case is settled early, litigation becomes less expensive for everyone involved, especially for the defendant. Even when it is the insurance company that is the defendant, settling early is an advantage as this would reduce payments.
The Stress Associated With Trials
Many personal injury trials last a few days. But, this is never a guarantee and the process is always stressful. The parties involved can be examined and their entire past might be publicly scrutinized. Also, as the trial is getting close, attorneys and those represented end up faced with more stress. If the settlement happens, the agreement ends up being negotiated. The matter ends up concluded fast.
The Unpredictability Of Trial
The main reason why plaintiffs might want to go to trial is that they might get much higher damages, which practically means more money. But, this should never be seen as a certainty. A trial is always unpredictable. It is possible that important evidence is excluded and eyewitnesses can quickly become unreliable. Our legal system was created to remove surprises but this does not mean you will not be faced with some.
The most unpredictable part of the trial is what a jury will end up awarding as damages and who will actually win. It is close to impossible to predict how much the jury decides is fair. But, with a settlement, you can negotiate and there is a higher possibility you will be offered exactly what you want.
The Length Of A Trial
It is quite common for the trial to start only around one year after filing the lawsuit. It is even possible to prolong the process through an appeal. The personal injury case can be very simple but you might end up having to deal with everything for around four years, which is a lot more than people would want to.
Remember that while the trial is going on, you need to pay for everything associated with your personal injury. If you do not have the funds to do so, things become complicated and a settlement might be the best option for you.
Odds of a trial
A key advantage of settling cases outside of court is the fact that you have a comparatively better control over the result/outcomes of your case. When you go for trial the outcomes have a wide margin of being unpredictable making your gamble less winnable. You might consider your case to be well built and even then you never have a clear shot of winning a trial and the chances of things going sideways are relatively more. Henceforth, it’s best to settle when you have the opportunity to do so outside court rather than going to trial.
Financial point of view
Court procedures and a hole in your pocket go hand in hand when it comes to settling cases. The very unpredictable nature of a jury makes things work at a stretch depending on the complexity of the injury /accidents. There happens to be no sure shot way of knowing your judicial expenditure will ascertain your victory.
Time and stress
Cases tend to be less of a stress on the mind and body when it is taken care of swiftly and efficiently. In this case it’s settling the case outside the court. Going to trial on cases is not that good of a bargain as personal injury/assault charges sometimes could take more than a year to solve and even longer if the opposition appeals. In such cases you might have to choose what you are really seeking out of the case. As fighting out cases takes a toll on one’s mind, and dragging them out for a whole year might just not be worth the time, effort and money that goes along with it. In such instances settling could just be the most feasible solution considering all of the factors above. Settling outside a court/or basically just settling implies that no further appeal could be anticipated in the future and you could rest in ease.
Furthermore, settlements aren’t just about trying to rip off the opposition as much as possible to make the case as lucrative as possible for you. Settlements also work on the lines of confidentiality, meaning both the parties would not be allowed to talk or converse about the case settled in the future with any individual. This is maintained so as to make sure this period of uncertainty and stress is not translated onto any part of the rest of your lives.
From the defense perspective settling a case is understood as no admission of liability. Hence this option seems more desirable as you wouldn’t have to agree/ plead to any of the charges as you wouldn’t have to admit to any wrong doings.
Rounding up on the options you have, when it comes to personal injury cases settling out is usually the option of the intelligible as it’s quick and effective in solving the dispute and both parties win to a certain extent. But it’s always better to weigh in the degree to which the case matters to you and take decisions accordingly.