Different Ways to Settle a Personal Injury Lawsuit

When 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.