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Lawfirm of Sarah Christensen THE DIFFERENCE BETWEEN SETTLEMENT AND JUDGEMENT

If you are injured in Colorado Springs as a result of another party’s negligence, you may be entitled to receive compensation for bodily injuries and future medical expenses for long-term medical care. In this situation you will need to contact a Colorado Springs Injury Attorney to help determine how much compensation you will need to cover missed work, medical bills and any long-term treatment for disabilities. Your attorney will be responsible for assessing all damages, both present and future, and filing a claim on your behalf. Once this occurs, you may find yourself waiting months for your settlement or judgment. But what is the difference between an injury settlement and an injury judgment?

An injury settlement is an agreement between two parties to resolve the case. In most cases, injury settlements occur prior to a trial or a judgment. In an injury settlement, your attorney will typically negotiate with insurance companies and other attorneys to reach a mutual agreement.

An injury judgment, on the other hand, is a decision entered by the court system after a bench trial or a jury verdict. In this situation, parties have usually failed to reach a mutual agreement prior to the trial and have allowed a judgment to be awarded by a judge or jury of their peers.

While the difference between an injury settlement and an injury judgment may seem simple enough, there is a more significant difference. When you are awarded a personal injury settlement, that amount is usually paid out in one lump sum or as a part of a structured settlement. The money awarded to an injured party after an injury judgment; however, is much more difficult to obtain. Large judgments are usually appealed by the losing party. In this situation, the money you are waiting to receive will remain in collection during the appeal process. If they win the appeal, the judgment will likely be overturned.

Even if you win the appeal process, you may still have to wait to receive compensation for your injuries. Injury judgments usually have to be collected because they are not always voluntarily paid by the defendant. If an injury judgment is excessively large, it may even exceed their insurance limits, assets and property values and force them to declare bankruptcy.

If you are injured and filing a personal injury claim against another party, it is important to discuss all of your options with your attorney. In many cases, a large injury settlement will be worth more in the long run than an even larger injury judgment. Only a qualified Colorado Springs Injury Attorney can help you decide what compensation you deserve and your best course of legal action.

Please call Colorado Springs Personal Injury Lawyer Sarah Christensen now to talk about your case. She can be reached by phone at 719-634-7770.

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