When Will You Get Settlement Check?

There are some instances where you find yourself stuck in a situation looking for your settlement check eagerly, and it’s become a part of your daily routine to keep an eye on your mailbox. As a pre-settlement funding company, we have many plaintiffs stuck in this waiting situation, and we have helped them with solutions, ideas, and details related to settlement checks.

So, in this article, we will share the details with you and guide you through all the procedures and details related to the settlement check waiting game.

Procedure Which Gets You To Actual Settlement

Before we explain the procedure, let’s understand what will happen when you agree to a settlement deal with specific terms and conditions, which have already been described and told to you. After that, you sign the agreement.

So, when you agree on the final settlement deal, your attorney will sit down and finalize the contract with the opposite party and clear the paperwork. This final settlement deal includes details such as the net amount, any payment plan or term, and other terms and conditions related to the final settlement. Later, when both parties agree to all terms and conditions, including the amount and payment, they will sign the papers as the final settlement deal.

The next step is for the defendant or the accused party (usually an insurance company) to proceed with the payment. You must understand that this is different from a regular bank check we write and provide daily; this check will require extensive documentation verification and multiple approvals. In short, there will be a series of procedures without which it is useless, or you will not be able to cash the check.

After all documentation and a series of procedures, the check is cut with the deal amount and sent to your representing attorney’s office. Once the attorney receives the check, a team will verify the amount as per the deal and read any terms and conditions added or modified that were not mentioned or agreed upon during the final settlement. After all verification, the attorney will take their agreed-upon fees from the check, and the rest will hand it over to you.

After learning all the above details, you might feel this is a straightforward process with no issues. Many hurdles will come the way, and many approvals and paperwork will be involved.

Factors That Affect Settlement Check Timeline

It sounds exciting and a pleasure for the ear when you hear the exact date of the settlement check’s arrival. But it is not that simple and easy. Many factors and barriers will come the way and can also impact the date of arrival of the settlement check:

  • The Complexity Of The Case: A multi-million dollar class action lawsuit might take longer to resolve than a small settlement lawsuit with a lower settlement amount.
  • Approval Required From The Court: A few small and class action lawsuit settlements require a Judge’s stamp and approval on the document related to the settlement check, which can sometimes take a week or month.
  • Procedures And Terms Of The Insurence Company: There are some cases where the date of arrival of the settlement check entirely depends on the company’s terms and procedures. Some companies have easy and quick while others have complex and time-consuming procedures.
  • Administration Work and Documentation Procedure: Preparing documentation, such as required paperwork and calculations of expenses and bills related to the case, can take weeks. Further, discussions and communication between the parties will take months.

How Much Time Does Settlement Check Take to Arrive?

Every settlement case is different and unique. Generally, a plaintiff gets a settlement check 4-5 weeks after agreeing to the settlement agreement. In most cases, the settlement check arrives a month after the final settlement, but it can even take up to 6 months if there are a lot of complexity in the settlement agreement.

Let’s make you understand based on the type of cases below:

Personal Injury and Accident Cases: In such cases, settlement checks will take two to six weeks to get handed over to you.

Disputes Related To Employment And Your Job Loss: These cases will have multiple time variances, but you will get your settlement checks between 2 weeks to 8 weeks of the time range.

Class Action Lawsuits: These settlement checks might take months or years, so please be patient. The difficulty and number of petitioners depend on the cases.

Please be aware that these are just the average numbers based on previous and old settlement cases we have worked with and provided pre-settlement loans.

How to Track Your Settlement Check?

Are you worried and impatient about your settlement check? You are unsure when it will arrive and how to track it. We understand that it keeps the plaintiff in a dilemma. Here are some methods to track your settlement check:

  • Always Be in Contact With Your Representing Attorney: Your attorney is the right source and the best source of information on the timeline for your settlement check, so don’t hesitate and feel shy to contact your attorney regularly. Also, the attorney’s job is to keep you informed on all updates and progress.
  • Always Refer to the Online Case Management System: Some law firms offer a client portal where you can visit and check the status update on your case. Check with your attorney or law firm if they have any such facilities.
  • Follow Up with the Court: In case your settlement requires court approval or permission, you can visit the respective court website, check the status, and, if necessary, consult your attorney based on the status update available on the website or portal.
  • Always Keep an Eye on Your Mail Box: There are many instances when checks come directly to you, so keeping an eye on your mailbox is a good option.
  • Be Patient but Focused: Always remember that checking and doing a regular follow-up is a good option or suggestion. However, you must keep calm in some situations as you might get delayed in getting your settlement check. Losing your patients won’t change the arrival time of your check.

Common Delays In Settlement Check Arrival

Sometimes, the easy-looking settlement check case can hit a few bumps or get stuck with paperwork. Below are some holds and situations where the check might get stuck and suggestions for the same to keep you aware:

  • Fault and Error in Paperwork: Misled names or spelling mistakes can delay the procedure, so we always advise you to double-check your paper and details before presenting it for approval. Also, keep checking and responding on time to any correction request on your document.
  • Disputes Over Settlement Terms: There are few instances when you see or find yourself in a condition of last-minute disagreement in settlement terms. In such situations, calm yourself and consult your attorney to suggest resolving these issues as soon as possible.
  • Holidays and Court Closures: Please be informed that the legal world doesn’t stop on holidays, but it might slow down your settlement process, so always remember this factor and act accordingly.
  • Insurance Company Backlogs: The check can sometimes be delayed because the insurer is already occupied with a specific workload or busy with other work. In such cases, please speak with your attorney, as attorneys are the ones who can put some fire under them to fast-track your work.

Tips to Speed Up the Process Of Settlement Check

If you are looking to get your check ASAP, below are some tips and suggestions to follow:

  1. Sign Documents Promptly: If you are assigned to do some paperwork, don’t wait for the end date or long time to complete and submit it. It is strongly suggested that you sign and submit it as soon as possible.
  2. Provide accurate and exact details and information: Check all details, including your name, street address, and social security number, carefully and make sure they are correct. Any mistakes or errors in these details can create a significant delay.
  3. Be Responsive: If someone tries to contact you regarding your settlement case, please respond quickly and on time and provide details as requested by consulting your attorney.
  4. Follow Up Politely: Remember, it’s good to inquire and get details, but always be kind and polite while gathering information related to your check. Do not engage in any unethical behavior while checking to get details related to your settlement process.
  5. Keep your Documents Ready: If asked to present any documents, prepare for any documentation condition.

What to Do While You Wait For Settlement Check

While waiting for your settlement check, are you sitting and twiddling your thumbs? We suggest utilizing that time wisely.

  1. Budget Planning: Plan your settlement amount wisely, whether you want to invest it, use it to pay off your bills and debts, or save it for the future.
  2. Avoid New Debts: People often take on new debts in anticipation of the settlement amount and spend it without planning. We always recommend avoiding new debts. This might be risky and put you in trouble financially.
  3. Consider Tax Implications: Few Settlements are taxable, and we recommend contacting a tax professional to understand and get details on what you might owe as tax.
  4. Stay Healthy: If your settlement is from a personal injury case, we request that you take proper care of yourself and always be focused on your recovery, which is very important and required in such cases.
  5. Keep Records: Maintain a proper file and document related to the settlement and attach all data about your case, as you might need them in the future or at any time.

Red Flags: When To Be Concerned And Alert

While delays and holds are common in getting a settlement check, some more circumstances raise a concern:

  • Unusual Delays: If your settlement check is taking longer than usual, it’s time to raise a concern and start asking questions to the responsible person or authority, including your attorney.
  • Lack of Communication: Always check with your attorney for updates and progress on settlement. Check status. If they are not responding or keeping quiet at any moment, please be alert, as this is not a good indication in your case.
  • Unidentified or Suspicious Requests: Always double-check for the details or person’s identity, asking for additional fees, including your personal information, unexpectedly.
  • Check and Verify any Irregularities: Please verify the amount mentioned on the check and the source name, which should match the source.

If you encounter any of the above red flags, contact your attorney or our firm, and we will provide you with immediate support and assistance.

Wrapping It Up

It feels like you are simply sitting and watching a paint box get dry while waiting for your settlement check. But if you have the proper details, required information, and information, you can always use your waiting period instead of simply sitting and thinking of the check. There is a saying that good things come to those who wait patiently and with proper information. Remember, you will get your settlement check at the end, but until then, keep yourself calm, focus on your health, stay informed with all updates, and always be available for any required communications.

Get A Pre-settlement Funding Quote

If you are already in a lawsuit, then we can offer you lawsuit funding without any hassle.

CALL: 800-961-8924