Claims process
Settlement
A settlement is an agreement resolving a claim for an agreed sum, in exchange for which the claimant signs a release permanently giving up the right to pursue it further.
The release is final. Once signed there is no reopening the case if your condition worsens, which is why settling before maximum medical improvement is risky.
Agreeing the number is not the same as receiving the money. Lien negotiation and trust account processing routinely add weeks or months.
Related terms
- Release — A release is the document a claimant signs at settlement giving up all further claims arising from the incident, in exchange for the agreed payment.
- Disbursement — Disbursement is the payment of settlement funds out of an attorney's trust account, following the order of attorney fees and costs, then liens, then the claimant's remaining share.
- Maximum medical improvement — Maximum medical improvement, or MMI, is the point at which an injured person's condition has stabilized and is not expected to improve further with additional treatment.
- Post-settlement funding — Post-settlement funding is a cash advance taken after a case has settled but before the settlement money has actually been disbursed.
Need the money rather than the definition?
Apply in two minutes, or call 813-798-5528 and we will explain any of this on the phone.