Comments on: What is considered a good personal injury settlement? http://www.familylawmadeeasy.com/blog/what-is-considered-a-good-personal-injury-settlement/ Tue, 22 May 2012 11:36:11 +0000 http://wordpress.org/?v=2.7 hourly 1 By: lordofthebarnyrd http://www.familylawmadeeasy.com/blog/what-is-considered-a-good-personal-injury-settlement/comment-page-1/#comment-1149 lordofthebarnyrd Thu, 29 Jan 2009 07:24:16 +0000 http://www.familylawmadeeasy.com/blog/what-is-considered-a-good-personal-injury-settlement/#comment-1149 There is no magic formula for settlement because the value of a settlement is entirely subjective. If you simply take as a rigid formula 1.5 times the medical bills, you might be overlooking other possible avenues of damage calculation. This is emphasized by the fact that if the defendant is willing to settle for 1.5 times your medical bills, you are obviously overlooking some possible recovery (i.e. the defendant only settles if they think they are getting a good deal...so you might be short changing yourself if the defendant is eager to accept 1.5 times the medical bills). Factors to consider in settlement: possibility of recovery at trail, amount of potential trial recovery, need for the money (willing to take lesser amount now or potential greater amount later), desire to end the litigation early...None of these concerns are adeqquately accounted for in a rigid formula, yet they greatly affect the settlement value of a case. There is no magic formula for settlement because the value of a settlement is entirely subjective. If you simply take as a rigid formula 1.5 times the medical bills, you might be overlooking other possible avenues of damage calculation. This is emphasized by the fact that if the defendant is willing to settle for 1.5 times your medical bills, you are obviously overlooking some possible recovery (i.e. the defendant only settles if they think they are getting a good deal…so you might be short changing yourself if the defendant is eager to accept 1.5 times the medical bills).

Factors to consider in settlement: possibility of recovery at trail, amount of potential trial recovery, need for the money (willing to take lesser amount now or potential greater amount later), desire to end the litigation early…None of these concerns are adeqquately accounted for in a rigid formula, yet they greatly affect the settlement value of a case.

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