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Question about a settlement check
Posted on 1/22/18 at 2:46 pm
Posted on 1/22/18 at 2:46 pm
I was involved in an accident last year and hurt my neck, and took my case to the OT’s favorite baw, Spencer Callahan. They called me today and told me they received the check, but that is has to go through bookkeeping first and then they’ll call me to pick it up. The check is for 12 grand... I assume this is before they take out all their fees, etc.? Excuse me for being so ignorant but I’ve never dealt with anything like this before.
This post was edited on 1/22/18 at 3:02 pm
Posted on 1/22/18 at 2:47 pm to the paradigm
If they told you 12K, that’s your cut generally speaking
Posted on 1/22/18 at 2:48 pm to the paradigm
Is he that bad of a lawyer that you can't just ask him or an associate?
Posted on 1/22/18 at 2:48 pm to the paradigm
Thanks for the increased insurance rates
Posted on 1/22/18 at 2:48 pm to CoachChappy
Which means the total settlement was probably around 20k.
Posted on 1/22/18 at 2:49 pm to the paradigm
quote:
Spencer Callahan
Catchy jingle that guy has. Now i Can't get it out of my head... thanks.
Posted on 1/22/18 at 2:49 pm to the paradigm
quote:
The check is for 12 grand
That's your cut of the 1.2 million settlement.
Posted on 1/22/18 at 2:49 pm to CoachChappy
quote:
If they told you 12K, that’s your cut generally speaking
So, the original check was for around $100k?
Posted on 1/22/18 at 2:50 pm to the paradigm
You got hurt, he got paid
Posted on 1/22/18 at 2:50 pm to the paradigm
Without offering you specific legal advice, as that would be inappropriate as I do not now, nor will I represent you in this matter:
Standard practice in PI firms is to do a disbursement almost like a real estate closing - they will clean up any paperwork they've missed, take care of any subrogation with the disbursement (they make sure your doctors and health insurance are happy with their cut), all bills/expenses are paid, as well as their fee. You'll get the opportunity to review all that and if you're happy with it, you'll take your check (made out to you, from their client trust account) and be on your merry way.
That happens in 99% of client disbursement situations.
Standard practice in PI firms is to do a disbursement almost like a real estate closing - they will clean up any paperwork they've missed, take care of any subrogation with the disbursement (they make sure your doctors and health insurance are happy with their cut), all bills/expenses are paid, as well as their fee. You'll get the opportunity to review all that and if you're happy with it, you'll take your check (made out to you, from their client trust account) and be on your merry way.
That happens in 99% of client disbursement situations.
Posted on 1/22/18 at 2:53 pm to Displaced
Thanks for the clarification, guys. Once again, I apologize for my idiocy.
Posted on 1/22/18 at 2:53 pm to the paradigm
Are you saying that your lawyer settled your PI case without telling you the gross amount the insurer paid? If so, lawyers operate different down there than they do up here.
Call your lawyer. They should let you know what the case settled for and I assume they will send you a disbursement sheet along with the check.
ETA: What Ace said.
Call your lawyer. They should let you know what the case settled for and I assume they will send you a disbursement sheet along with the check.
ETA: What Ace said.
This post was edited on 1/22/18 at 2:55 pm
Posted on 1/22/18 at 2:54 pm to the paradigm
quote:
Spencer Callahan
You should walk into his office and hum a football at his face and see if he can catch it like he does on his commercials.
Posted on 1/22/18 at 2:58 pm to the paradigm
What kind of injuries did you have? Must've not been much if the payout was only $12,000.
Posted on 1/22/18 at 2:58 pm to the paradigm
I'm hoping to have something similar happen here shortly with an accident my wife was involved in last year. I know all cases are different, but how long did it take you from the time you hired a lawyer to the time you got a check?
Posted on 1/22/18 at 2:59 pm to Ace Midnight
So you’re saying that they still might deduct more for medical fees, or has that already been done?
Posted on 1/22/18 at 2:59 pm to the paradigm
quote:
The check is for 12 grand
That'll get you a Bitcoin.
Posted on 1/22/18 at 3:00 pm to the paradigm
What they tell you is what you get. They have to deposit the check, clear it, take their cut and then they will draft you a certified check.
Posted on 1/22/18 at 3:00 pm to TDsngumbo
Pretty minor — just soreness/stiff neck. I only went to the chiropractor for a couple mos.
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