It is important that California residents seek legal guidance when they are involved in serious incidents, such as car accidents. That is because different cases may be resolved in different ways, and the theories of law that support some victims’ claims may not be the same as for other victims. To this end, this post does not offer legal advice and is informational in its contents.
A settlement is an agreement between parties to avoid litigation based on the terms of a negotiation. In the context of a car accident case, a victim may choose to settle their legal claims against the responsible party in exchange for a sum of money. Rather than going to court and fighting for damages, the parties to a settlement agree to an amount of money that the responsible party will pay to the victim in exchange for the victim giving up their rights to sue in the future.
While on the surface a settlement may sound like an excellent option for anyone who needs money after a crash, victims should be warned that settlements can be limiting in their scope. For example, a victim who agrees to a $50,000 settlement may use up their settlement money quickly as they pay off their medical bills and may be left with significant costs beyond what their settlement covered.
For some car accident victims, settlements may provide enough money on which to work through the challenges of their post-accident lives. Others may require more support and may be better served through litigation. A personal injury attorney can provide a victim with advice regarding how to proceed in their case.