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Reaching a settlement in a truck accident case

Most victims of truck accidents in Georgia will decide to settle their cases outside of court. There are many good reasons to opt for a settlement over taking a lawsuit to court. For example, a settlement can be concluded in less time than litigation.

However, it is important to point out that an individual could receive less from a negotiated settlement than taking a case to trial. It is also important to note that an individual could be giving up his or her right to take any future legal action after a settlement has been negotiated. If a case is resolved through arbitration, the results are binding for both parties.

A final downside to consider when settling outside of court is the inability to publicly hold the at-fault party liable for its actions. Victims who choose to opt for a trial can still conduct settlement talks while the lawsuit process is ongoing. If a settlement is reached, the money can be paid out in either a structured settlement or as a lump sum. The tax status of a settlement may depend on how it is received.

Settlements may provide compensation for medical expenses, lost wages and lost future earnings. They can also reimburse a person for property that is lost or damaged in a trucking accident. An attorney could represent an injured victim either in court or during settlement talks. In some cases, a judge may ask that parties either engage in or continue talking outside of court prior to the start of a formal trial.

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