Car Accident Settlement Checks — What You Should Know
Any money coming in after a car accident is often urgently needed and greatly appreciated. You need to know that you can pay your medical bills, your rent/mortgage and other expenses. Therefore, it is tempting to accept a check without paying careful attention to the terms that come with it — and there are always terms.
Taking A Check Could End Your Legal Options
Most of the time, insurance companies will only cut you a check after you sign a release. This document, when affixed with your signature, states that in exchange for a payment from the insurer, you waive your right to pursue any future damages from the insurer and/or the at-fault driver.
What This Means For You
If you have reached a fair settlement and are ready to move on, signing a release is no problem. It is simply a formality.
But if negotiations are not complete or you worry that future legal action may be necessary, accepting a check from the insurance company could all but eliminate these options. When being offered money or signing any document, it is critical to understand what you are signing and how it could affect your legal rights going forward. Therefore, it is very helpful in these situations to consult with your own attorney before signing anything or accepting any payments.
Talk To A Personal Injury Lawyer For Free
Dimopoulos Law Firm is located in Las Vegas and serves clients throughout the area. To arrange a free consultation with one of our skilled attorneys, please fill out our convenient online contact form or call us at 702-800-6000.