settlement question - Printable Version
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settlement question - blake - 12-09-2010 12:31 PM
i have a question. i recived a call from my lawyer yesterday saying the ins comp wants to settle and there is an offer on the table for 99k thats about 7 1/2 years of payments. i dont know what to do iam only 32 and i have had surgery of c5 c6 and it still bothers me everyday. do i take the money and put an end to this while i can get a settlement i think i should be asking for more. i think they are doing this because the wcb has sent a letter stating the ins comp is to make a lump sum of over 210k into an aggregate trust fund so the ins comp if they settle wont have to pay. iam in a very tuff spot. i know its been quiet but my lawyer said that its gonna happen again where i will be asked to testify again and the issue of removal from the labor market will be raised again. now iam going to school now and trying to get a job again. does anyone think i should be asking for more money or do i take the 99k less after lawyer gets their cut? part of me wants this over its been a long road since 04 but what happens if i need surgery down the road do i not take this. 99k sounds like alot but i think with them having to pay over 210k into the fund why shouldnt i get more. any opinions would be great.
RE: settlement question - 1171 - 12-09-2010 12:54 PM
you forgot the 3rd alternative:
everything continues as it is.
I think that is more likely then you getting 210K.
if you are alright with things continuing, then you should just say "no, thanks".
if they are serious, they will come back with more.
maybe in a year or two they'll try again and you'll have a better idea of what you want to do.
RE: settlement question - blake - 12-09-2010 01:02 PM
yeah the 210k ill never see thats just to make sure my payments continue with the fund. iam fine with not taking it, they have brought me in so many time for hearings and its been quiet lately.i have had very good luck with that never lost a hearing or an appeal im just afriad because of my age and them always bringing up the labor market thing that one day ill get a judge that sides with the ins comp and its all gone. like i said i have a perm partial disabilty so i know someday ill work again. so i should call my lawyer back and tell him to ask for more? if they are gonna have to pay 210k in feb then i should be getting more than 99k. whats a fair amount i should ask for without them just saying nevermind? i mean even if i say no ty they are gonna be forced to pay 210k anyways.[/align]
RE: settlement question - blake - 12-10-2010 11:45 AM
would i be wrong if i ask for 100k for me with my lawyers % paid? right now its 99k without my lawyers 12.5% taken
RE: settlement question - 1171 - 12-10-2010 12:16 PM
it's not wrong to ask for any thing.
usually it's the atty that negotiates the settlement not the client.
i suppose he'll want you to drive him to bank also.....
RE: settlement question - blake - 12-10-2010 12:54 PM
yeah when he called he said he was calling just to tell me that was the offer if i wanted it but if i feel i should be getting more he would call them and let them know. i feel that 99k isnt what i should be getting and i was told you never take the first offer but i havent been though this so i dont know what to do. i know that come febuary the ins comp will have to pay 211k into the aggreagte trust fund so once this happens from what im told my case goes into the states hands and its harder to get a settlement. what did you mean drive hime to the bank? lol
RE: settlement question - 1171 - 12-10-2010 01:08 PM
if they say no to your counter offer what will you do?
RE: settlement question - blake - 12-10-2010 01:14 PM
i dont know thats why i cant decide. if they say no do they just say nevermind? i mean i will continue to get my weekly benefits i have been classified with a ppd so im not worried there and the money going into the trust fund in feb assures that. why shouldnt i ask for more if they are gonna have to pay 211k anyways? have you even been though this process? there has to be a reason that benefits them to all the sudden want to settle now. i mean to this point i have won all my hearings and appeals from them. im going to school 4 days a week so im doing my part. its just that im only 33 so if i close the book what happens when im older its never going away
RE: settlement question - 1171 - 12-10-2010 01:56 PM
they'll settle any time they can get a great deal; there doesn't have to be anything special about now.
saying " no thanks" is the same as saying "it's not enough".
if you counter offer, it's likely they won't take it unless it is really a good deal for them.
your lawyer should be advising you; he's getting the 12.5%.
RE: settlement question - blake - 12-10-2010 02:03 PM
he said he thinks its a good offer. of course he daoes hes gettin paid from it. so the right thing to do is say no thank you? just afraid they say forget it