Is it wise to settle my workers compensation case?

For the most part, workers compensation claims in Oklahoma, like every other state, are often settled outside of court. Like most civil lawsuits, a workers compensation claim can sometimes take years to conclude in court and therefore costs both sides a considerable amount of money, time, and effort.

Therefore, it is very likely that the employer or the employer’s insurance company will approach and offer a worker a settlement sooner or later in the case. Tulsa, OK workers compensation lawyers suggest a few things you can do to be able to receive a fair worker’s comp settlement and what factors you ought to consider before accepting a proposed settlement.

Hope

This is a major decision in your life. Is it the focal point? It could be. You will not know until years later when you are at the end of your life but it is important and you certainly already realize this. They say money is not everything but anyone with a clue knows that it is something and it is vital. You will need legal help and you can find that legal guidance right here: http://workers-compensation.usattorneys.com/oklahoma/. You may not have been given anything in a while but you just were. No strings are attached. What was giving to you is not tangible – you cannot touch it. This website offers you hope.

When should you consider taking a settlement offer?

Legal professionals have a rule of thumb when it comes to when you can accept a settlement offer, which is rather simple. Do not accept an offer at least until you have reached MMI (Maximum Medical Improvement).

To paraphrase, that means until your medical condition has plateaued, and your healthcare professional or doctor is certain that your condition will not improve even with further medical treatment and medication following a workplace injury. You will need a Northeast Oklahoma workers compensation attorney by your side during this process.

The logic behind this isn’t complex. It is simply because you cannot predict the damages caused until your reach MMI and you may accept an offer that is simply way too underwhelming considering what you have gone through and what you are yet to go through.

Thankfully, most states have provisions where you will continue to receive temporary disability benefits at least until you reach MMI. Therefore, you do not have to rush yourself into accepting an offer just so you can pay for your immediate expenses and your Tulsa, OK worker’s compensation lawyer will be working with you on this. 

It is vital to keep in mind that once you offer a settlement and sign the official settlement documents, you waive the right to file a civil lawsuit against the defendant.

Workers compensation settlement – pros vs cons

There are some inherent advantages and disadvantages when it comes to accepting a worker’s compensation settlement.

The good things about accepting a worker’s comp settlement include the fact that you will not have to spend time, money, and effort on things such as filing a lawsuit, appearing in court, preparing claims, and gathering evidence. Furthermore, there is no uncertainty factor unlike in a court trial where there is a possibility that you may lose the case and not even receive a penny.

Another added advantage is that you may request that the worker’s comp insurance company also pays a portion or all of the medical bills as part of your settlement and they will oblige for the most part with your Tulsa, OK worker’s compensation lawyer working with you and them to insure this ending is satisfactory for you.

There are a few disadvantages of accepting a settlement. To begin with, you may receive an amount which may be just a fraction of what you can actually win in court. In addition, you cannot file a worker’s comp lawsuit even if you change your mind, and you will have to wait until you reach your Maximum Medical Improvement plateau prior to accepting a settlement.