What happens after I sign an insurance settlement?

After you sign the release, the insurance company still needs to receive the release and issue a settlement check. If you are being represented by an attorney, the insurance company will send the check to your attorney and your attorney will write you a check for your portion after the attorney fees and any litigation costs have been deducted.

How long does it take to receive settlement money?

After you finally received word that your case had settled, your first thought was probably when you would receive your settlement check.

Where does the settlement check go after it is deposited?

They do not make the check payable to you because your attorney will need to deduct certain funds from the check before you can receive it. After the insurance company processes your check, they will send the check directly to your attorney’s office, where the next phase of the settlement payout process will begin. 3. Check Deposited, Liens Paid

When to start accumulating interest on a settlement?

Some state laws strengthen the leverage over the defendant by requiring him or her to start accumulating interest on the settlement funds from the date that the release form is received so that there is a disincentive for the defendant to delay payment.

After you sign the release, the insurance company still needs to receive the release and issue a settlement check. If you are being represented by an attorney, the insurance company will send the check to your attorney and your attorney will write you a check for your portion after the attorney fees and any litigation costs have been deducted.

After you finally received word that your case had settled, your first thought was probably when you would receive your settlement check.

How long does it take to get a check after a claim is settled?

It can commonly take up to 30 days to get your check because the claim settlement process can involve many steps. When the case is settled, the insurance adjuster will send you some paperwork, including a release. The release will state that you can never again seek money from the insurance company after the matter has been settled.

What happens to your settlement money in Texas?

This is only temporary, and it’s not your attorney’s decision — it’s a mandatory part of the settlement process under State Bar of Texas rules. Once the settlement check clears, your lawyer will distribute your settlement money. Usually, your lawyer will have to use some of your settlement money to settle various unpaid debts (also called liens).