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Different Ways to Settle a Personal Injury Lawsuit

Personal Injury LawsuitWhen you are injured as a result of someone else’s recklessness or negligence, the last thing you may want to think about is filing a personal injury claim. Although filing an accident may not be high on your priority list, it should be. Holding the other party financially responsible for their actions will not undo the harm done. However, it will pay for your medical expenses, loss of wages, out of pocket expenses and pain and suffering.

Once you have decided to file a claim, it is important to hire an NYC personal injury attorney. An experienced attorney will fight to protect your legal rights and help you get the best settlement possible. It is important to realize that not all claims are resolved the same. Depending on the specific facts of your case, your attorney may need to file a lawsuit to get you the full compensation that you deserve.

Formal Settlement v. Informal Settlement

If your accident attorney has to file a lawsuit, there are two common ways the suit can come to a resolution: formal and informal settlements.

  • Formal Settlement. After a lawsuit’s entire timeline has occurred, including going to trial, the case comes to a formal settlement. During the trial, each party has an opportunity to present their case to either a judge or jury. After deliberation, either the judge or jury determines who wins the case as well as the amount that will be awarded to either party.
  • Informal Settlement. The majority of personal injury lawsuits are resolved by an informal settlement. This means that the parties are able to reach a settlement agreement before the case goes to trial. In some cases, an informal settlement can even take place before the injured party files a lawsuit.

Damages in a Personal Injury Lawsuit

Regardless of whether you formally or informally resolve your personal injury lawsuit, you are entitled to certain costs and damages. Your NY accident attorney will look at the specific facts of your case to determine what damages you are entitled to.

Below are some common damages available to personal injury victims:

• Past and future medical expenses
• Loss of income
• Loss of future earning capacity
• Emotional and mental trauma
• Pain and suffering
• Out of pocket expenses related to the accident

Call Us

At Gersowitz, Libo & Korek, P.C., our attorneys understand the ramifications of an accident on the victim and their family members. We are aggressive in getting our clients the full extent of monetary compensation they are entitled to for the injuries they have suffered.

If you or a loved one was injured due to the negligent actions of another party and would like to consult with an experienced New York accident attorney, please call Gersowitz, Libo & Korek, P.C. at 1-800-529-9997.

Client Testimonials

From beginning to end we were comfortable with the team at GLK. Thank you Mr. Gersowitz (Ed) for obtaining a settlement out of court.
Donna L. S.
La mejor firma de abogados, muy profesionales, excelentes persona, todo el tiempo estuvieron pendientes de mi y mis necesidades, estoy muy agradecida con ellos.
Maricela O.
Thank you to the team at Gersowitz Libo & Korek and special thanks to attorney Daniel, Avi and Annette for all your help on my case. Dealing with the law...
Hazel M.
They were incredibly professional and pleasant to work with. They made the personal injury process straightforward and easy to navigate. I appreciated their...
Lindsay L.
A few years ago I was misdiagnosed and nearly ended up becoming a quadriplegic. Three spinal fusions followed. I asked my sister, a top D.C. lawyer, to find the name of the best personal injury lawyer in NYC, and I was referred to Jeff Korek of... Gersowitz Libo and Korek. It was a tough time for me, but Jeff and Irene were great and helped me through it every step of the way. They were compassionate, understanding and very accommodating, yet professional and always with their fingers on the pulse. They really care about the welfare of their clients, and not just money driven. When I was unable to travel, Jeff came to me, and I live an hour from the city. This firm is well known, well established, and has earned the respect and credibility among its peers. I highly recommend the firm of Gersowitz Libo and Korek without hesitation and, in fact, I already have. My thanks go out to the entire team for a better than expected outcome!!! They get a 5 out of 5 stars from me!!read more
Mary S.
I am giving this law firm 6 out of six thumbs up. Very professional very personal and compassionate staff. From the Attorneys to the staff they were all...
Anthony C.
Jeff and Michael are both very professional and helpful towards my case. I would like to thank the team and Irene, the assistant, for all their help despite the length of time that the case took. They took a lot of care and were patient with... answering any inquiries that I more
Cindy C.
I was injured in 2011 and spent nearly 8 years with Ed Gersowitz and Jeff Korek. Their professionalism and care was beyond. The process was long and at times exhausting but Ed. Jeff and their team made me feel comfortable and in great hands. I... can't thank them enough and would highly recommend GLK to all. Thank you for all your help!read more
Jeremy N.
Ed Gersowitz and all his colleagues at the firm Gersowitz Libo & Korek, PC far exceeded all my expectations for a personal injury law firm. From the moment...
Robin F.
Thank you to the team at Gersowitz Libo & Korek, and especially to our wonderful attorney Anthony Makarov. Mr. Makarov was our trial attorney who took our...
Amy L.
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