Saturday, 31 Oct 2020

Understanding about the Settlement Check Requirement

Whenever any accident occurs, the major process after your recovery is to file an insurance claim against the opposing party and to get the settlement from them. This check will be issued either to you or to your attorney from the insurance company. After you receive the check, you can endorse it so that the payment for you can be disbursed without any further delays. In this article, we are going to see about the procedure involved with the settlement check reimbursement and its requirements.

Process involved in Check Settlement

If your claim is approved, then a settlement agreement will be made by the insurance company. And within a maximum time period of 30 days from the date of agreement, you will receive a check, issued in your and your lawyer or law firm’s names. You have to endorse the check with your authority, thereby making it suitable for deposition. If you have given Power of Attorney to your lawyer for check deposition, then your law firm will deposit the check into a separate trust account, making sure your money is safe. After this, during the final accounting, the firm will pay for your entire medical and other expenses, take their payments and hand over the remaining amount to you.

ElDabe Ritter Trial Lawyers

According to the principles of ElDabe Ritter Trial Lawyers, if the payment to be received is huge, then the amount will be spitted into equal sums and deposited at equal intervals in your account. If the law firm refuses to give the settlement documents to you, then you can file a legal claim against them for mishandling the money. But this will be a very rare case, so you don’t need to worry about your money and can rest peacefully.