How To Settle A Lawsuit

Full Video Transcript

Most lawsuits settle out of court, but agreeing on a settlement amount can be difficult. If your damages are minor - like minor injuries, low medical bills, or a few weeks of missed work, and your life gets back on track relatively quickly, then an early settlement is likely. Don't necessarily take the first offer though - they're usually low-ball amounts. On the other hand, if you've incurred substantial medical bills, lost a significant amount of wages, or your life has been permanently altered, then significant documentation of those damages is usually needed to get a satisfactory settlement. For instance, proof of all lost wages, medical expenses, records of any psychotherapy sought for mental anguish, and estimates of future expenses are needed. Expert witnesses may also be required. In order to encourage the other side to bargain, parties typically don't start out with an unreasonably high demand, but a high enough one to be satisfied. Then, there are usually several rounds of counter-offers until a settlement is reached. Remember, no amount of money can replace what you've lost. But hopefully you can achieve a satisfactory settlement and move on with your life.

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