Get cash today


Read our latest news and updates.

Personal Injury Settlement Guide

Personal injuries can happen at any time and any place. Unfortunately, injuries can result in hefty medical expenses and may even require long-term treatment. Moreover, some injuries can lead to a lawsuit, as the injuries sustained may have been the fault of a third party. When this happens, the process either goes to court or results in a personal injury settlement.

Personal injury lawsuits that go to court are notoriously time-consuming and expensive for both the plaintiff (injured person) and the claimant (defendant). For this reason, most people involved in a personal injury lawsuit prefer to reach some kind of settlement and avoid court entirely. A settlement means that both parties have reached an agreement on how much (if anything) should be paid to the injured person. While settlements are usually far less expensive than going to court, they still incur their own costs for the plaintiff and the claimant. As a result, many plaintiffs still need a personal injury settlement loan to help pay for medical expenses, lawyer fees, and other associated costs.

So, what is a personal injury settlement loan? How much can you expect to receive once your case has been settled? How much should you ask for? Finally, where you can find personal injury settlement loans for your next settlement? In today’s guide, we will answer all of these questions and more, but first, let’s look at what constitutes a “personal injury.”

What is a Personal Injury?

It’s important to know the definition of “personal injury” from a legal perspective. Many people assume that it is just another term for any kind of bodily injury, but this is actually not the case. Legally, personal injury refers to any damage caused to the body, mind, or even emotional state of an individual. The term is often used to distinguish damages done to a person, as opposed to the damage done to property (like a car or a house).

For the purposes of filing a lawsuit, personal injuries must be caused by an external force or third party. If you injure yourself and there is no possibility of an outside cause, you will not have a strong case for filing a lawsuit. Some common examples of personal injuries that would qualify for a lawsuit include:

  • Injuries sustained due to medical malpractice
  • Damaged tissue as the result of a dog bite
  • Emotional trauma sustained after using a “dangerous” product
  • Bodily injury caused by falling on private or public property (in some cases)

This is not a comprehensive list of all possible personal injuries. However, it should give you a better understanding of the kind of events that qualify as personal injuries for the purposes of filing a lawsuit. You should only file a personal injury lawsuit if you believe that you have reasonable cause to place some or all of the blame for the injury on someone other than yourself.

How Much You Should Ask For In a Personal Injury Settlement?

The exact number you should request from injury claims will depend on a variety of factors. Generally speaking, your compensation should conform with the severity of the injury and the associated costs — medical or otherwise. That said, you should always speak with a personal injury attorney to go over the details of your case and reach a compensation request that makes sense for you.

As a general rule, you should begin the settlement process by asking for about twice as much as you expect to receive. Why? Because a personal injury settlement is a negotiation, and you want to maximize your payout. In most cases, your lawyer will discuss your injury claims with the other party’s lawyer. Naturally, the other lawyer will attempt to secure a lower payout for their client. Once both parties reach an agreement, they can begin to award damages to the injured person.

You may feel a little greedy asking for 80%-100% more than you “deserve,” but you have to remember that you will almost certainly not receive this amount. Your attorney will send the initial offer to the other client, who will either accept the offer (very uncommon) or offer a counteroffer that is lower than the amount you requested. Then, you can either accept the second offer or provide a counteroffer of your own. Needless to say, you will want to maximize your payout, but the more you haggle over the final settlement, the longer it will take to receive your money.

As a result, you need to take the timeline of the settlement and your budget into account. If it takes months or even years to negotiate the settlement, you may not have enough funds to cover your expenses. in some cases, it may be better to reach a fast agreement than to continue pushing for your desired compensation. However, you don’t want to concede too much, as you may end up agreeing to a dollar amount that is far less than you deserve. To avoid a situation where you are conceding too much due to time-sensitive expenses, you may want to consider a lawsuit loan.

Unfortunately, there is no exact bodily injury claim calculator. This is why your lawyer will play such a pivotal role in the process. Experienced personal injury attorneys know how much to ask for and how much they will need to concede to the other party. Working closely with your attorney and providing accurate information about the actual cost and damages of your personal injury will ensure that you get the compensation you deserve.

How Are Personal Injury Settlements Paid Out?

So once all the dust has settled, how do personal injury settlements work? Truthfully, a personal injury settlement is a slow process. More often than not, you will need to make several offers and counteroffers before reaching a final settlement. On average, a personal injury claim settlement can take anywhere between 12 and 18 months to complete. It can take even longer if you cannot settle and your case goes to court. Either way, the payout process timeline can vary based on the details of your settlement.

For example, most settlement agreements specify how a claimant must pay the plaintiff. There are usually two ways to pay: a lump sum or structured settlement. With a lump sum, you get the entire settlement amount upfront. Alternatively, if you agree to a structured settlement, the claimant agrees to pay set amounts periodically until the full amount has been paid. In other words, you could receive full compensation within a few days or a few years of settling. It all depends on the terms of your agreement.

Personal Injury Settlement Loans

Are you facing steep medical bills as the result of a personal injury? Do you wish to file a lawsuit and reach a bodily injury settlement, but don’t have the funds to wait it out? If so, you should consider acquiring one or more personal injury settlement loans. These loans will provide you with funds from the start of the process so that you can continue the settlement with financial confidence.

Fortunately, at Delta Lawsuit Loans, we can provide you with a lawsuit loan while you wait for your attorney to secure the settlement you deserve. We offer personal injury lawsuit loans and various other loan types to help keep you on your feet during difficult times. Feel free to contact our office to learn more.

Over his career, James has successfully built and managed several of his own businesses, sold his company, managed hundreds of employees, operated across the United States and Europe, and completed financings for his own companies in excess of $400 million dollars.

James investment and operating experience includes co-founding one of the largest pre settlement companies, a special purpose fund that advanced money to litigants against pending legal claims. He had over $300 million across thousands of case investments, collections, and receivables, a staff of almost 50 employees, operating in 40 states. James built, assembled, and motivated a team of who became the leaders in their field of pre settlement funding. The company offered multiple solutions include attorney funding, plaintiff advances, pre settlement and post-settlement funding, and surgical and medical financing, which enable his clients to receive funds for their case, while the await their settlement.

After selling his business, James now operates a consulting firm which specializes in the lawsuit loan industry. He advises companies how to structure their financing, run their operations, deal with legal issues and collecting on their lawsuit loans. In addition to his consulting firm, James teaches business ethics classes and a local university.

James enjoys teaching, reading, writing and spending time with his wife and two boys.