You have the option to file a personal injury claim if someone else's negligence caused your injuries. By taking legal action, you are holding the other party liable for your losses. However, there are steps in the process before going to court. In fact, the majority of personal injury claims in New Jersey are settled out of court. So, if you are reading this and are contemplating a claim, a settlement may be in your future.

There are benefits and drawbacks to a settlement, which we will outline in the following article. However, you should always seek legal legal counsel when filing a lawsuit. You will be guided by an experienced NJ personal injury attorney from Brandon J. Broderick, Attorney at Law, so you can choose the course of action that best serves your situation.

You should be informed about out-of-court settlements, how they could be advantageous, and when you might want to weigh your options before making a decision.

Settlement Benefits

You need to be aware of the value of your injuries before you can assess if a settlement offer is reasonable. Until you learn this, you may not realize if a settlement will cover your losses, such as medical costs, lost wages and other costs, even if the offer seems like a lot of money. Make sure you account for your future medical treatments as well as the money you will lose from being unable to work or if you're unable to return to the same level of employment. Once you know the extent of your damages that the settlement will pay, take into account these benefits:.

Time

You'll typically reach a settlement award sooner than you would in a trial with a jury verdict. If you want to pursue your issue in court, you are unsure of how long it might take. You might spend months or even years arguing your point. You may have expenses that must be paid before the last day of court if you have suffered financial losses and other damages as a result of an accident.

Payment

You are likely guaranteed to get money when you settle your case outside of court. You'll agree on a settlement with the other side, and you'll get paid. After that, you can begin taking care of financial obligations that have been more difficult to manage financially as a result of the accident, such as paying back medical debt, funding ongoing medical care, and maintaining other obligations.

Costs

When you settle your case, you avoid paying courtroom expenses. These court costs can build up to significant sums if your case proceeds to trial and takes a lengthy time. Sadly, for some people, this might not be a practical choice. Spending money gradually over a period of time may also make you lose interest in pursuing your case. When you choose the settlement path, you are confident that you will receive payment in the end.

Privacy

The trial is open to the public after a case is filed in court. There's a chance the news will cover it, making your name and your story public. Even when you are innocent, it could feel intrusive for the general public to know exactly what occurred. You have power over this when you settle, and you can maintain confidentiality.

You might believe that settling your lawsuit is the best course of action now that you have the benefits. However, you must be aware of the drawbacks as well in order to properly assess your options.

Settlement Disadvantages

While there are undoubtedly benefits to settlements, you may want to be aware of the disadvantages before considering your settlement.

Amount Awarded

A settlement will provide compensation, but it might not be the full amount you're entitled to. The other party must agree with you on a settlement, but they may not always agree on the number. Additionally, if you settle early, you might not even be aware of the full extent of your injuries and thus lack a clear understanding of the amount of compensation you should seek. Going to court will give you the opportunity to fight for full compensation, and you'll have a lawyer at your side who has carefully considered your case and demands the most compensation possible.

Cannot Force Defendant to Pay Damages

If the opposing side is being difficult during negotiations, they do not have to pay damages if you settle. Taking them to court ensures that the defendant will have to make restitution if the jury rules in your favor.

Cannot File a Lawsuit

You can lose your right to take further legal action if you accept a settlement. Therefore, regardless of how you feel, if you receive a smaller reward at the conclusion of the settlement, that is the amount you receive. If you had pursued your case to court, you might have received a significantly bigger award.

Brandon J. Broderick Is Available Around-the-Clock

At Brandon J. Broderick, Attorney at Law, we value client satisfaction, compassion, and results.

Our New Jersey personal injury attorneys provide the absolute best legal service and fight for our clients' best interests. We have offices in Florida, Connecticut, New Jersey, Pennsylvania and New York, so we can take care of you.

Contact us today for a free consultation if you require assistance.