Lawsuits can be long, complicated, and emotionally draining experiences. Highly complex cases have been known to take months or even years to complete. However, the entire process can be cut short and a resolution found more quickly if the parties can reach a settlement agreement. A settlement is like a bargain struck between the parties. Usually, the defendant agrees to pay some portion of the plaintiff’s damages, and in exchange, the plaintiff agrees to drop the lawsuit. In the end, the defendant usually spends less money on a settlement than they would on a trial or the full amount of damages. Plaintiffs are usually satisfied to walk away with at least some of their damages covered.
The time it takes to settle will vary from case to case. Sometimes, the parties are eager to settle quickly to avoid a costly trial. Other times, the parties are reluctant to settle and will only do so if the costs of a trial prove to be too overwhelming. The time it takes to settle may depend on what you are willing to settle for. If you have high demands, it may take longer to negotiate an amenable agreement for both parties. If you are more willing to compromise, you might reach a settlement faster.
While a lawsuit is a good way to hold negligent drivers responsible for the havoc they cause, it may not necessarily lead to a full trial. While everyone wants their day in court, it might be smarter to accept a settlement offer and get your expenses covered. Our Bronx car accident lawyers can help you negotiate an acceptable settlement. Schedule a free legal consultation with our Manhattan car accident lawyer at The Carrion Law Firm by calling (718) 841-0083.
How Quickly Can I Reach a Settlement After a Car Accident in New York?
Depending on the willingness of both parties, a settlement could be reached very quickly. In some cases, neither party wants to go through a grueling trial, and settlement negotiations begin almost immediately. Other times, neither party is willing to concede to the other in the slightest, and a settlement may take more time or may not come together at all.
Settlement agreements can take a very short time to reach when the parties are motivated. If your case is supported by strong evidence and your success is very likely, the defendant might be more willing to settle to avoid paying more. You might be motivated to take the settlement because, despite a strong case, you would rather save money by avoiding a trial, and settling will allow you to recover from the accident in peace.
Settlements can also take a very long time when cases are more complicated and more facts are in dispute. Similarly, if the defendant does not want to settle because they believe you are the one truly responsible for the accident, they may be unwilling to reach any compromise. Sometimes a settlement can only be reached if the case shapes up to be very long and expensive. Some people decide to settle only because a full trial would cost more money.
If you are embroiled in a legal battle over a car accident, our Staten Island car accident lawyers can help you negotiate an acceptable settlement agreement.
Negotiating a Settlement After a New York Car Accident
The time it takes to negotiate a settlement agreement may depend on multiple variables involved in your case. It is important to remember that every case is different. Just because one case settles quickly does not mean that a similar case will also reach a fast settlement. There may be issues that slow the process down, or the parties might be unwilling to reach an agreement. Talk to our Long Island car accident attorneys for more information about negotiating a settlement.
Settlements can take longer depending on the extent of your damages. In some cases, the damages are determined relatively quickly. This is more common in cases involving tangible, financial losses. However, when non-tangible damages, like pain and suffering, are involved, negotiations may take longer because the parties disagree over the price tag placed on the non-tangible damages. You might think your pain and suffering are worth big bucks, but the defendant might say otherwise.
It could also take more time to investigate more severe crashes. A minor accident with more limited injuries could be resolved quickly. A complicated crash involving multiple vehicles, drivers, and passengers, all with varying injuries, will take much longer to investigate. Until we have an accurate picture of the total damages, settlement negotiations may be on hold.
Is There a Deadline for Reaching a Settlement Agreement After a Car Accident in New York?
Technically, there is no deadline for reaching a settlement agreement, as long as it happens before a final verdict. Since personal injury trials could potentially go on for weeks or even months, there is usually plenty of time to negotiate a settlement. It is not uncommon for settlement negotiations to break down, only to be revived during your trial when one party realizes the other is likely to win.
Settlement negotiations often begin before a lawsuit is ever filed. The parties will go back and forth with settlement offers and counteroffers until an agreement is reached. There is no deadline on this process, but you should be careful about taking too much time. If your settlement negotiations exceed the statute of limitations relevant to your case, you will be unable to file a lawsuit if negotiations break down.
Reaching a settlement agreement that covers the costs of your damages can be a challenging process, to say the least. Our Brooklyn car accident attorneys are here to help any way they can.
Get in Touch with Our New York Car Accident Attorneys
After being injured in a car accident, the idea of a lengthy trial may be daunting. If you would rather settle your dispute outside of a courtroom, our New York City car accident lawyers can help. Schedule a free legal consultation about settlement negotiations with our Islip car accident lawyers at The Carrion Law Firm. Call (718) 841-0083 today to get started.