Compensatory Damages: Final Steps to Getting Your Money...
Getting your hands on your compensatory damages is the easy part. You’re through the tough spots of your settlement negotiations. Now all you have to do is get your check. Hopefully everything will be easy from here on out, but there are still a few problems you might have to face. Before you can get your injury settlement compensation, you'll have to fill out a few forms. These are fairly standard, but should be looked at very carefully. You don’t want to sign anything that can hurt you in the future. Going forward, the main concerns about your settlement have to do with the money itself. You don’t always get to keep all of it. If you weren’t the one who paid all of the bills, then you may be required to pay someone back. After that, especially on larger settlements, you'll want to look into any taxes that may apply to your compensation money. What We'll Cover: Your Personal Injury Insurance Settlement: The Final Steps... After reaching a verbal agreement, you're going to have to do some paperwork to get your compensatory damages. This section looks at what forms to expect, when you can expect them and what they'll actually say. The Personal Injury Settlement Agreement: Where's the Money? The check should be in your hands within 10 business days, or soon after. If it doesn’t arrive you shouldn’t worry, but there are steps you can take to ensure your settlement agreement isn’t falling through the cracks. Your Bodily Injury Claim Settlement: Being Prepared for Liens... If you weren’t the one who paid your medical bills, you may have to repay whomever did (probably your medical coverage). Depending on your health insurance provisions, you may have to deal with a lien against your settlement. Medical Health Coverage: Repaying Liens on Your Settlement... There are details you should know about paying liens to your own health care coverage. If you handle the situation right, you may only have to repay a portion of what you owe. Bodily Injury Settlements: Taxes on Compensatory Damages... You might have to pay some taxes on your injury settlement. Fortunately this rarely happens. This section looks at how taxes affect your personal injury compensation. Return from Compensatory Damages to the Personal Injury Settlement Guide Find out if you're entitled to a
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