How Long Does It Take to Receive Your Personal Injury Settlement?
After your personal injury case reaches a settlement, one of the most common questions clients have is how long it will take to actually receive their money. In Texas, this process generally takes around one to two months, though the timeline can vary depending on the complexity of your case, the number of medical providers involved, and whether there are multiple insurance companies or liens to resolve. Once a settlement is agreed upon, the first step is usually signing a release with the insurance company. This release is a legal document confirming that you will not pursue any further claims related to the accident in exchange for the settlement payment. Only after the release is signed will the insurance company issue the settlement check, which is sent to your attorney.
The settlement check is typically deposited into a trust account, known as an IOLTA account in Texas. This account is designed to protect client funds and ensure that attorneys do not access the money until all obligations are met. While the check is in the trust account, your attorney will begin the process of reviewing and negotiating all medical bills associated with the accident. In most personal injury cases, clients are only responsible for reasonable and necessary medical expenses, and experienced attorneys can often negotiate significant reductions with hospitals, doctors, and other medical providers. This step is crucial, as it ensures that you do not pay more than you are legally obligated to and that you maximize the amount of compensation you actually receive.
In addition to negotiating medical bills, your attorney will also account for any liens or outstanding balances, such as health insurance subrogation claims. These may require additional communication with insurance providers or medical facilities to reduce the amounts owed or to settle disputes over the charges. Once all negotiations are complete, your attorney will prepare a detailed settlement breakdown, which includes attorney fees, case expenses, payments to medical providers, and the net amount that will be paid to you. You will review this document carefully, and once approved, your attorney will release the funds to you.
While most personal injury settlements in Texas are finalized within one to two months, cases can take longer depending on the number of parties involved and the complexity of medical billing and lien negotiations. For instance, if multiple doctors, hospitals, or insurance companies are involved, coordinating all payments and approvals may extend the timeline. However, this process is designed to protect your interests, ensuring that every expense is accounted for, all medical bills are negotiated, and that you ultimately receive the maximum compensation possible. By carefully managing these steps, a skilled personal injury attorney helps streamline the process and ensures that you are not left waiting unnecessarily for your settlement funds.
