Payment Delays After Settlement

by | Nov 17, 2023 | Legal Funding | 0 comments

Understanding Why Your Settlement May Be Delayed

Whether you are an attorney or an injury victim, you may wonder when you are going to receive the negotiated settlement payment. In some cases, payment can be relatively fast, but in others, it may be delayed by weeks or even months. There are a number of reasons why settlements can be delayed; understanding your rights is key to obtaining the money you need when you need it most.

At Triumph Legal Funding, we provide pre-settlement legal funding for injury victims and their attorneys. We can help ensure that you are not burdened by the financial hardship that may be associated with lengthy litigation, a slow-paying defendant, or another factor that commonly delays payments. If you are an injury victim or attorney with a pending case, contact our office at (973) 362-3500 to schedule a consultation. 

What Are Common Causes of Payment Delays After a Settlement?

Many people assume that as soon as their case is resolved, they will receive a payout of their settlement. Unfortunately, it can take a substantial amount of time between the closing of a case and the date when payment is received.

Payment delays after a settlement may be caused by:

  • Waiting on signatures – A delay in your payment may be as simple as a failure to sign the settlement agreement. Unnecessary delays are frequently caused by minor oversights that can easily be avoided with the help of an attorney.
  • Outstanding liens Another common reason settlements are frequently delayed is due to outstanding liens. Liens must be satisfied prior to the release of the final payment. Therefore if you have outstanding liens, such as medical liens, it may take longer to receive your payment.
  • Appeals process – If your case ends up being appealed, it could delay final payment. The appeals process is lengthy and may depend on a number of factors. 
  • Discrepancies – Once everything is agreed upon both parties have the opportunity to review the paperwork to ensure that everything is correct. If there are any discrepancies about the agreement, it could delay your check.

It is important to know that it takes an average of six weeks or more to receive payment from a settlement. Even if everything goes smoothly, it takes a significant amount of time to fully resolve a case. This means you could go months to a year or longer from the date of the accident before you see payment. 

How Pre-Settlement Legal Funding Can Help

Pre-settlement legal funding can help by bridging the gap between the accident and the final payout. It can help relieve the financial burden created by prolonged litigation and help cover any delays in payment. 

Contact Triumph Legal Funding Today

Contact our office today at (973) 362-3500 to schedule a free consultation about your pre-settlement legal funding options. Our team will help guide you through the process and determine how much you qualify for based on the circumstances of your case. Pre-settlement legal funding is not a loan. You pay nothing unless you win. Call now to get started.