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How and why to settle a truck accident case

On Behalf of | Jan 7, 2020 | Personal Injury |

Those who have been hurt by the actions of a negligent truck driver may be entitled to compensation for their injuries. Typically, personal injury cases in West Virginia. Depending on the circumstances in a given matter, it may be resolved through a settlement negotiated outside of court. As a general rule, it takes less time to settle.

A settlement that is reached through mediation or informal negotiations is not necessarily binding. However, a settlement reached through arbitration typically is binding on all parties to the agreement. One of the primary benefits of a settlement is that the terms of the deal can be withheld from the public. Furthermore, parties who are deemed liable for damages don’t have to admit that their actions led to a victim’s injuries.

If a person agrees to a settlement, he or she generally cannot seek additional damages at trial. Plaintiffs should also be aware that a settlement may be for less than what a jury may find that they are entitled to. Settlements can either be paid out as a lump sum or in a series of installments. Any money received from a settlement is taxed based on how it is paid out, so that is something a person should consider before agreeing to a deal.

Those who are seeking compensation in the aftermath of trucking accidents may be able to do so themselves. However, it may be in a person’s best interest to hire an attorney. A legal professional may understand how to take depositions or how to file a lawsuit in a proper and timely manner. This may maximize a person’s chances of obtaining a favorable outcome.