Need some suggestions / comments...

[2001SilverGTS]

Hey all, as some of you know I was involved in an auto accident 1 1/2 years ago (October 2002). Got nailed pretty hard. But we (Lawyer and I) are finally coming to a point of conclusion, but I'm torn as how to proceed.

1st scenario: Insurance company is willing to pay $7,000 now to settle all medical/loss claims. Which means my attorney will probably get about 2K (25%)out of that.

2nd scenario: File a lawsuit against the other driver and go to mediation, where a best guess settlement could be between $10,000 and $15,000 to settle all medical/loss claims. Which means my attorney will probably get about 33% of the final outcome. However, because of the mediation and other bull**** that is about 6 months to a year away. And as a added possibility I could get less than 7K, as it's all up to the mediator and there is no appealing the judgement.

So... what would you do? I could use the money now, as I am getting really tired of the Celica, and am looking very seriously at a 350z. And I would like to get this done and over with, and move on.

BUT 10 to 15K +/- could also be nice.

Toss in your two copper coins, I'd like to hear them.

Chris

[crazyJ]

Take 7K and get the Z.

[2001SilverGTS]

Originally posted by crazyJ
Take 7K and get the Z.

I knew I could count on you... :chuckles: If so I will be visiting Vivid very shortly there-after.

[Celicon]

yea, no use risking getting less than 7k, you won't regret it

[T3HKMAN]

If they are willing to settle that usually means they are looking at 1. Losing 2. Paying out way more than what you think you could get.

Get a second legal opinion if possible.

[BoyRacer]

I am in a simlar situation. My suit has been going on for almost a year now. I say unless you really need the money, wait it out. Thats a really tough decision though :/

[Dawnskaybug]

The celly is fixed ?
your suing on pain ad suffering/ ?

[2001SilverGTS]

Originally posted by Celicon
yea, no use risking getting less than 7k, you won't regret it

:werd:

Originally posted by BoyRacer
I am in a simlar situation. My suit has been going on for almost a year now. I say unless you really need the money, wait it out. Thats a really tough decision though :/

Yeah, I don't really need the money, but now is a perfect time for me to have a new project. A lot of things in my life have changed over the past couple months, and I need something to occupy myself for a while.


Originally posted by Dawnskaybug
The celly is fixed ?
your suing on pain ad suffering/ ?

Celica is all fixed, have some loose ends that I have to still tie up, but the majority of the money is for any "future" medical bills I may occur, cuz after the accident, I had close to 4K in just medical bills.

[dc5_on_speed]

Forget the first offer... the insurance company is always trying to weasel their way out of things. You are ENTITLED to that $15 and the lawyer takes 1/3, the doctor takes 1/3, and you get the remaining 1/3. If the numbers provided are accurate you should be getting close to $5K.

:thumbup:

If you settle, the outcome would be $7K, the lawyer takes $2K, but you never mentioned the agreed amount that you will have to pay the doctor. If they take another $2K then you are left with $3K.

I don't know how it is in AZ, but in CA, we are taught never to take the insurance companies' first offer, unless you do not have a case.

Last thing... you never know when muscle pains will start to creep up on you. If you settle, you relieve the insurance company of any liability to cover future medical expenses. If you are young, this is okay... but if you old like me, you may want to reconsider.