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How Will My Settlement Be Paid Out? Are you wondering when and how your personal injury settlement will be paid out after a car wreck, slip and fall, or other accident? This article explains the crucial facts about the settlement process, from the typical timeframe to how settlements are paid. Remember, a dedicated Union City personal injury attorney at Wade Law is here to fight for the maximum compensation you deserve! Who Pays the Personal Injury Settlement? The majority of personal injury settlements are paid by insurance providers. Why is that? Most individuals and businesses carry liability insurance coverage specifically designed to protect them in case of accidents or injuries caused by their actions or negligence. In some cases, for example in car accident cases, carrying insurance is mandated by the law. Once both parties agree on a fair settlement amount, typically through negotiation between your attorney and the insurance company's representatives, payment will be issued. It's important to note that negotiations can take time as each side presents arguments and attempts to reach an agreement. Structured Payments vs. Lump Sum Payment Structured payments involve spreading out your settlement amount over a period of time. This means that instead of receiving one large sum upfront, you'll receive regular payments over an agreed-upon timeframe. The advantage here is a steady source of funds to cover ongoing medical expenses, lost wages, or other costs res...