How Long Does It Take to Get A Personal Injury Settlement Check in North Carolina?
If you have been hurt in a car accident or some other type of accident, you likely have medical bills and other expenses waiting to be paid. The person responsible for your accident may be liable for your damages, but it can take time to get your money.
Even after you have completed the settlement process and signed the release, you might still be waiting on your settlement check. You have bills to pay, so you might be wondering, “How long after a settlement do I get paid?” In most cases, you can expect to receive your settlement check about 4 to 6 weeks after you sign the release. Keep reading to learn how long it may take to get your settlement check.
What Are the Steps to Getting a Settlement Check in North Carolina?
After an accident in North Carolina, most injury victims choose to hire a personal injury attorney. Your lawyer will begin negotiations with the insurance company to settle your case. Most personal injury claims are settled out of court, and a settlement check is issued. The basic steps in this process are:
- Negotiate a settlement agreement that fully compensates you for all your damages – both economic damages and non-economic damages.
- Sign the settlement release and send it to the insurance company.
- The insurance company will process the release and issue the check to your attorney.
- Your attorney will deposit the settlement check into their escrow or trust account.
- Once the check clears, your attorney will deduct their fee and pay any outstanding case expenses from the proceeds.
- Your attorney will then issue you a check for the remainder of the settlement proceeds.
Most insurance companies try to process the release and issue a check in a timely manner. After your case settles, it usually takes about 4 to 6 weeks for you to get paid. However, depending on your case, that timeframe may be slightly shorter or longer.
Why Have I Not Received My Settlement Check Yet?
There are several factors that may add time to the process of getting your check. If any of these situations apply to your settlement, know that it could take a little longer than expected to get your check.
Settlement Is Higher than Average
When an insurance company issues a large check, it may take extra time to verify all the details. It will also want to ensure that all the paperwork and documents are in order before sending out a check for a large sum of money, which could cause a slight delay in receiving your check.
Your Case Is Complex
Some types of accidents, such as truck accidents or medical malpractice, can be very complex. In these situations, it may take the insurance company to verify the details of your settlement and issue your settlement check. If your case involves complex facts or catastrophic injuries, expect to wait a little longer to get paid.
Insurance Company’s Check Issuance Schedule
Some insurance companies issue checks on a set schedule. Perhaps they only issue checks on Mondays. If your settlement release arrives the day after checks are issued, it could be several days before your check gets issued.
Bank Processing and Hold Times
As previously mentioned, your settlement check will be sent to your lawyer. Your lawyer will deposit the check and will have to wait until that check clears before giving you the net proceeds of the settlement. If the bank places a longer hold on the insurance company’s check, that means you will have to wait longer before getting paid.
Can I Track My Settlement Check?
Generally, the answer is no. Most insurance companies do not provide a method by which you can track the status of your settlement check. Start with realistic expectations and understand that it will likely be at least four weeks after signing the release before you receive your check.
If you still have not gotten your settlement check after 4 to 6 weeks, you can always check with your lawyer to see if they can provide a status update. Your lawyer may be waiting for the check to clear the bank, or they may still be waiting on the check from the insurance company. They can advise you on the potential reasons why your check is taking longer than normal.
Contact an Experienced Charlotte Personal Injury Lawyer at Chandler Volta Personal Injury Lawyers Today For Help
For more information, contact an experienced personal injury lawyer at Chandler Volta Personal Injury Lawyers to schedule a free consultation.
We proudly serve clients in Charlotte, NC, and its surrounding areas:
Chandler Volta Personal Injury Lawyers
1009 East Blvd Suite 110, Charlotte, NC 28203
(704) 980-9999
Open Monday to Friday
from 8:30 am to 5 pm
