The decision to settle a pending motor vehicle accident claim will depend on many factors. Individuals who find themselves in the position to decide if they should settle their claims or litigate them should always seek independent legal counsel from attorneys who practice personal injury law. This post offers no advice to Kentucky residents or other readers of this blog. Instead, it is merely informative in nature as legal professionals in this field are well-suited to advise their clients on their rights and options.
A settlement remedies a pending claim out of court. It does not require a person to appear before a judge in order to receive a financial payout for their losses. It does, however, often require a car accident victim to release the person who caused their injuries from future claims that may arise from their crash.
In some situations a settlement may be an excellent way to avoid litigation and provide a victim with sufficient compensation to make them whole in the wake of their collision. When this is the case, a settlement may resolve a pending claim quickly and allow both parties to move forward with their lives.
However, settlements may not fully compensate victims who suffer extensive injuries and losses. While a settlement offer may be attractive, in the long-term it may do little to provide a car accident victim with the financial support they require to receive medical care, occupational support, and other necessary therapies for their recovery. The terms of a settlement often cannot be undone because they are based on legal contracts, and before a victim agrees to an offered settlement they may wish to consult with their trusted legal advisors. Only then can they determine if it is in their best interest to accept a settlement offer or if they are better positioned to pursue their claim through litigation.