815-363-7776
McHenry
847-854-7700
Lake in the Hills
815-363-7776
McHenry
847-854-7700
Lake in the Hills

5 Things Not to Do When You Get A Settlement Offer

Whether you are involved in an accident or suffer a personal injury, there is a possibility that you receive a settlement offer from the responsible party. Although the feeling of having money often leads people to make mistakes.

When you’re on that chair, with the offer right before you, here is a guide on how to get the best offer. If you do this well, you will have much more than you have thought possible.

  1. Don’t Appear Desperate

The thought of having extra money in your pocket is tempting, but don’t be in a hurry to grab the offer. Don’t say yes right away! The best settlement offer is often not the first offer. Exercise some patience and seek advice from your lawyer before making a decision.

  1. Don’t Take the Offer for Fear of Losing It

You don’t need to worry about missing an offer. It is your right and entitlement. The other party cannot withdraw the proposal as it is against the law of a settlement offer. Don’t make the negotiation too easy. Often, the company might state a time duration. That is merely to scare you into making some quick decisions. Review and be sure it is the right offer.

  1. Don’t Settle Until You’re Ready

One of the strategies your company or insurance company might use is presenting you with an offer immediately after the injury. Remember, you are yet to know the overall costs it will take to get you back on your feet or sustain your standard of living. Taking the offer immediately will be the wrong choice. That is because it might not be adequate to take care of the bills.

  1. Don’t Make The Settlement Offer As Soon As You’re Back To Work

Whatever the injury might be, you might need some time to watch the progress. That is to know whether it is getting better or worse. So, turn down the offer the minute you return. Requesting to consider the proposal in two to three months is always the best. Don’t settle too quickly, or you might regret it.

  1. Don’t Forget Future Medical expenses

Depending on the kind of accident or injury, you might need to place the settlement offer on hold. You might need further surgery in the future, periodic therapy, or pain medications. By taking the offer too quickly, you might end up settling for less.

Wrapping Up!

Settlement offers can be tempting, especially if you need money desperately. But learning to say no can help you make the right decision for the long term. So, try as much as possible to understand the situation and make the right decision. Your personal injury attorney is there for you to lean on for advice. Call us today or send an email for the best personal injury lawyers in Illinios.

For more information or to receive help in your case, contact Franks & Rechenberg, P.C. today.