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Assuming there are no further appeals, class members generally receive payment about six to nine months after a settlement agreement is submitted to the court for preliminary approval, says Stuart Ross man, director of litigation at the National Consumer Law Center.
After months or perhaps years of legal proceedings, most clients will patiently await the finalization of their claim. If you are wondering, how long does it take to get money from a settlement, you can call the lawyer's office for verification. Most likely, the cash settlement will arrive within six weeks.
The average amount of time to receive a settlement check after a release is signed is about five to six weeks. However, several factors can delay this process from the specific process at your insurance company to debts and payments that may hold up your payment.
If you're involved in that class-action unintended acceleration lawsuit, then no need to go to the courthouse, your check is already in the mail. His answer was simple: “They should cash the check. They're not waiving anything additional by cashing the check.”
The Way Class Action Settlements Are Divided Generally, these lawsuits settle before going to court. Then, the lead plaintiffs are given an amount that is determined by their participation in the class action lawsuit. Finally, the rest of the settlement amount is divided among other class members.
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.
An attorney may normally hold a settlement check until it clears, which frequently means 7-10 business days. If the attorney is attempting to negotiate on outstanding medical bills or liens, it may take a little longer for the 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. This may take several days, especially if it is a large check.
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