It makes sense to settle a lawsuit when the earliest of these things happens: 1)You’re cured 2) Your doctor says you’re as good as you’re going to get, or 3) We know the other side doesn’t have enough money to pay you.
People call me with this question more than any other. You need money, because you can’t work or you’ve got bills, or both but you’re afraid that if you take the money from the other side now, you can’t get any more.
Unfortunately, that fear is well founded. The insurance company for the other side isn’t going to pay you substantial money until you are ready to settle, and release your right to sue them and the person they insure.
So what do you do?
You do whatever is in your power to get the lawsuit ready to settle. You get treated by whatever doctor or hospital will see you, and – if you are lucky enough, you rely on medical insurance, disability insurance, and the generosity of your employer, friends and family.
Part of my job includes helping people scrape together whatever they can in order to support themselves until their case is settled. I help you try to find other lawyers to help with your worker’s compensation or social security disability applications.
I try to learn about insurance you may not know about that can get them money – like medical payments coverage (which comes with most Ohio auto insurance policies) or Kentucky PIP (no-fault) coverage which is available to anyone who has an accident in Kentucky, or who has a Kentucky auto insurance policy.
Some of my clients get lawsuit loans. I really don’t like to encourage them to do this; the interest rates are ridiculous, and such a loan – with a payback that increases rapidly, and maybe doubles in a year – can force you to settle the lawsuit too early, before the insurance company is ready to pay you as much as the lawsuit is worth.
But whatever you have to do – that’s why I’m there. I have been a lawyer for almost 35 years.
If you have this question, you should call me. I am a Cincinnati personal injury lawyer.
I’d love to talk with you about this. Other lawyers refer their clients to me. And if you decide you‘d rather hire someone else, that’s OK. My phone is 513-621-4775.
Because all situations are different, and because there may be other facts pertaining to your case that I don’t know about, you should not rely on this answer for legal advice. I am not your attorney, and no lawyer client relationship has been formed. All discussions are limited to Ohio law unless otherwise indicated. And past performance cannot be used to predict future results.