by Net Pro Referral
- 20 Apr 2018
Pros and Cons of Settling your Case out of Court
Every legal case is different no matter if it involves a slip and fall accident, car accident, personal injury claim or anything else for that matter.
It’s important that every case is evaluated by professionals who evaluate the options on behalf of their clients. There’s the option of taking your case to the court. And, of course, there’s also the option of going with the settlement.
A common practice among attorneys is to come-up with some kind of settlement instead of proceeding to trial. What it means is that instead of you taking up your claim to the jury or a judge, both the parties mutual come to an agreement/resolution which doesn’t require the intervention of the court. To that end, one of the parties agrees to offer some kind of payment to the other and that amount is mutually agreed upon. The idea is to avoid a trial.
However, like with everything else in life, there’s an upside and downside to this decision as well.
If you’re wondering what the pros and cons of settling your case out of court are, this is the post for you –
● Less Burden - It goes without saying that the very first benefit of out of court settlement is that you will have to face less stress and burden. Trials involve a lot of preparation, and you have to present arguments in front of complete strangers. There’s also the added pressure of always making appearances.
● Guaranteed Payment – If a defendant declares himself bankrupt, you will no longer be entitled to a payment. Settlements on the other hand offer guarantee of payment.
● More Economical Option – Going to a full trial is an expensive endeavor as you have to pay for the depositions, expert witness, travel, etc. By going with settlements, all these expenses are eliminated altogether.
● Time-Saving – Trials can go on for years whereas settlements can be done in a lot less time. If you’re big on saving time, this is the option to go to.
● More Privacy – Court documents are usually public records meaning all your private details are exposed to everyone’s knowledge. Settlements on the other hand promise to keep all your private details private.
● Easier to Predict the Outcome – It’s hard to even for experienced lawyers to predict what type of outcome will come from a trial. But, most of the lawyers can predict the outcomes of a settlement.
● The Promise of Finality – Jury decision can be appealed if a party is losing but that’s not the case with settlements.
● No Record of Guilt - When two parties mutually agree to a settlement, one of the parties agrees to pay for the mistakes, therefore, no party is concluded as guilty. But, trials conclude in one of the parties declared as guilty.
● Less Money - One of the disadvantages of out of court settlements is that the payout involved in court cases is less compared to the odds of winning the case in the court of law. Although there is the risk of losing, the compensation is also higher.
● No Punitive Damages – Since the payout is usually less in a settlement, it doesn’t take into account the compensation for the emotional suffering endured.
There’s a flip side to everything. Settlements are undoubtedly an easier way out but the payout involved is less. There can be times when an attorney is confident about the odds of winning the case. However, if the settlement seems like a wiser option, it’s advised to go with it but make sure to weigh both the advantages and disadvantages of out of court settlements as stated above. If you’re looking for an attorney, do check out net pro referral to see which ones are most recommended in your vicinity. Be sure to consult an attorney before choosing to settle things out of court.