We live in a fast yet chaotic world where meeting with a traffic accident is nothing new. There are many different reasons truck accidents happen. But what to do if you are injured in a traffic accident? First thing first, seek medical help if needed. Another thing you need to do is to file a lawsuit to seek compensation for the damage done.
Truck Accident Attorney
After the situation is controlled it is better to talk to a truck accident lawyer before filing a lawsuit. The attorney can walk you through the different legal processes of truck accident settlements and provide pros and cons before you engage in a complicated, long and expensive litigation.
Alternate Resolution Dispute (ARD)
The process of filing a lawsuit is time as well as money consuming. During or before the prosecution the two parties can come to a mutual agreement to resolve the dispute. The alternate resolution dispute is always an option if the settlement is in your favor. Here the parties agree outside the courtroom by various methods of arbitration, negotiation or mediation.
These methods comprise the Alternative Dispute Resolution
Arbitration: This method replaces full trial and is conducted with a panel of judges.
Mediation: It is conducted under the supervision of the mediator which serves to discuss rather than judge the case. It has a high success rate because the parties are met in a friendly and comfortable environment. In most of these situations, the cases are solved through Alternate Dispute Resolution which often favors both parties.
Pros of ARD
To reach a mutual truck accident settlement, it is rather easy to keep ARD under consideration. Through this, the parties can avoid the hostile environment of the court. Parties can meet and agree to come to terms when both of them can propose their positions, facts about the accident and payment for the damages. With all of these benefits, the most prime one is the presence of a neutral third party that speaks in favor of both sides. Plus, it saves extra expenditure of money and time on the tiring process courtroom.
Cons of ARD
The method even though widely successful and acceptable has its downfall usually against the complainant. The plaintiff can’t process further through ARD without giving up the legal claim. The first thing to be done is the withdrawal of the case to proceed further. Often the defendant gets much less settlement then the one that the court would have awarded if successful. Also, the settlement interdicts the plaintiff from the right of the trial in the very case.
Types of Settlement
After a reciprocal decision is made the types of settlements can be talked through. There are two ways to pay the amount for the damage. In a lump-sum settlement, the amount due is paid all at once. The other way is called a structured settlement in which the amount is paid in the form of regular installments. The two settlements are subjected to a fixed tax.
Do you need help with your Truck Accident Case?
If you or someone you know has been involved in a truck accident, we would be glad to review your case for free. We can evaluate the situation and determine if it would be best to file a lawsuit. You can fill out our simple form here and one of our staff will reach out to you. You can also call (865) 888-8888 to speak with one of our friendly staff.