It may seem that winning a car accident lawsuit would be the end of your problems. However, car accident settlements may not arrive right away. The courts have put in place rules that govern the receipt of funds as well as the right of the defendant to pay the funds. Here’s an overview of what will happen after you win your case with the help of your car accident lawyer in Greensboro.
The Difference Between a Settlement and a Judgment
Not all car accident disputes make it to court. Oftentimes, insurance companies reach out-of-court settlements to save time and money. These proceedings are overseen by a mediator or arbitrator appointed by the courts. Legal documents of the terms are still drafted and further litigation can be pursued if the terms are not met.
A settlement may also occur during the pre-trial phase of the case. Sometimes, insurance adjusters may suggest that you agree to a settlement within the first weeks following an accident. However, the choice is up to you and your attorney. Parties usually have 15-30 days to pay a settlement to the other party. If they fail to do so, the settlement will start to accrue interest and further legal action may be taken to secure your funds.
If your case does go to court, the result of the court’s decision is called a judgment. A judge or jury decides the amount of damages a plaintiff can receive. After a judgment, the other party reserves the right to file an appeal which prevents them from paying the settlement money. The defendant typically has 30-60 days to file a motion of appeal with the courts. This suspends the current court order until another one can take place.
When the Other Party Doesn’t Pay
Insurance companies normally pay damages on time and in full to the other party. However, this isn’t always the case with companies or individual drivers. You may have a hard time collecting your settlement funds from certain parties. This is can be caused by a plethora of reasons, but the legal system can remedy the situation. A skilled car accident lawyer in Greensboro can negotiate with the other party on your behalf. Additionally, if the court determines another party is responsible to pay your settlement, the paying party is subject to these disciplinary measures if they fail to pay:
Seizure of Property
The courts can seize the property of the losing party for failure to pay the judgment. This includes all personal property such as real estate, property, etc. They will put a lien against the property until the party has made agreements to pay the judgment.
Wage Garnishment
Individuals that fail to pay a judgment may have their wages garnished by the court. The courts will automatically deduct 25% from each paycheck. The amount automatically gets transferred into the account of the plaintiff.
Courts may also freeze the accounts of companies that fail to pay a judgment. During this process, the bank is forced to hand over the settlement amount to the collector.
Finding a Car Accident Lawyer in Greensboro, North Carolina
If you’ve been injured in a vehicle collision, it’s important to understand your rights. A car accident lawyer in Greensboro can walk you through the process of filing an injury claim, and they can advocate for you in court to help you get the maximum settlement. Contact Lewis & Keller for a free case review today.
