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Below is a list of the most common customer questions. If you can’t find an answer to your question, please don’t hesitate to reach out to us.

What do you do when you receive a large settlement?

Understand the Tax Implications. Getting a handle on how much your windfall may be taxed is a crucial first step in managing your money. Get a Good Financial Advisor. Pay Off Debt and Save. Invest in Education. Invest in Your Home. Donate to Charity. Invest in Business, Friends, or Family. Enjoy Yourself!

How long does it take to receive a settlement check?

After a settlement is agreed upon, how long will it take to get my settlement injury check? Usually, you can normally count between four to six weeks to complete the settlement process.

How long does it take to get a settlement from a car accident?

Usually, you can normally count between four to six weeks to complete the settlement process. However, in some cases like the current situation with Setanta Insurance who went into liquidation that period can be very long and some people have had to wait two or more years.

Can a lawyer hold a settlement check?

Usually, a settlement check is sent to the attorney of record. The attorney may hold the check in a trust or escrow account until it clears. Your attorney will also deduct his or her own share from the settlement funds for the legal services that he or she provided and for the advancement of any legal costs.

Why is my settlement check taking so long?

If it takes longer than a month to receive your settlement check, it's time to start asking questions. There may be a reasonable explanation for why the insurance company hasn't issued your settlement check. Common reasons for delays include: You haven't signed and returned the settlement and release agreement.

How do you get a settlement check?

Receive Your Settlement Check After your attorney clears all your liens, legal fees, and applicable case costs, the firm will write you a check for the remaining amount of your settlement. Your attorney will send you the check and forward it to the address he or she has on file for you.

How are large settlements paid?

Many settlements combine structured settlement payments with lump sums, giving victims an initial injection of cash followed by a steady flow of financial support. Large class action settlements may be paid out of a general fund, with a claims administrator determining how much each claimant will receive.

What do I do with a large settlement check?

Understand the Tax Implications. Getting a handle on how much your windfall may be taxed is a crucial first step in managing your money. Get a Good Financial Advisor. Pay Off Debt and Save. Invest in Education. Invest in Your Home. Donate to Charity. Invest in Business, Friends, or Family. Enjoy Yourself!
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