Steps to Processing a Settlement

processing settlement

processing settlementAbingdon, Bristol and Johnson City

Car accidents are complicated and awful for everyone involved. If you have recently been in a car accident, you are probably wondering how long it will be before it’s settled. You need to move on with your life, and your settlement can help you do just that. Some car accidents get settled before trial. That isn’t always the case, however. The Law Offices of Michael R. Munsey, P.C., have seen people suffer through months or even years of trial before they received a settlement about their car accident claims. Don’t sit in trial uneducated on how this process works. Let our experience in car accident help you. Michael R. Munsey wants to help you understand the three steps to processing your car accident settlement.

Demand Letter

The demand letter and the first step of your settlement process is a way to explain your side of the events that transpired. We will need to present your case to your car insurance agency. This includes but is not limited to facts of what happened, details about the incident, any injuries incurred, and medical treatments you’ve had that are related.


The next step is mediation. Your insurance company is going to respond to your demands with an offer at this point. This is just an offer so you should negotiate. Most insurance agents will use this as an opportunity to hand over the lowest possible offer. The Law Office of Michael R. Munsey, P.C., recommends that you never accept an offer without first seeking the counsel of an experienced accident attorney. We suggest instead, taking the points previously stated, and reiterate to your insurance how their offer isn’t acceptable. In this reiteration, you can make a counteroffer. This process may be repeated multiple times until both parties reach a satisfied medium.


After meeting your insurance company in a neutral area where you both are satisfied, you shouldn’t take another step until you have received the agreed-upon settlement in writing. You should never settle if your insurance hasn’t provided enough money to cover medical fees or accident costs. Also, consider that the agreed-upon settlement must be enough to cover those costs after you’ve paid your attorney. Once this final offer is accepted, you’ll need to sign what’s known as a release. A release form simply states that you cannot ask for more money from this incident at another time. A couple weeks after your release is signed, you’ll receive a check with the settlement amount. From that point on, your case will be considered closed.

Settlement Flux

Your settlement is susceptible to negative changes or harder negotiations based on a couple of things.

The things that can affect your settlement are:

  • Accident Fault- Disputing the faulty driver in the accident can make your settlement take longer. If there’s not contesting who’s at fault, it will happen quicker.
  • Injuries- Minor injuries can usually be settled quickly. However, serious injury means more extensive medical treatment and documentation.
  • Court- The speediness of your trial can be heavily dependent on your local Tennessee or Virginia court’s schedule.
  • Who is Handling Your Claim- Handling it by yourself vs. hiring an accident attorney can affect your settlement timeline and how much you ultimately receive. Your attorney usually can get you more, but it may take longer to settle. While handling it yourself may go by fast, but you may have to take a serious settlement cut.

Car Accident Settlements in the Tri-Cities

If you live in Kingsport, Johnson City, or Bristol, TN, or Bristol, VA, don’t wait forever to receive your settlement. Don’t let your insurance company bully you into less compensation than you deserve. Michael R. Munsey is the car accident attorney for you. Contact us at the Law Offices of Michael R. Munsey, P.C., to speak with a professional about your car accident settlement. Schedule your free consultation with us by calling (276) 451-2056.