How to reject a settlement offer
Personal Injury - July 22, 2023
When involved in a personal injury case, the goal is to receive fair and reasonable compensation for your losses. Part of this process involves coming to a settlement agreement with the liable party or their insurance company. A settlement is a negotiated amount of money that both parties agree to in lieu of taking the case to trial.
In many cases, a settlement offer is not enough to cover the damages you have suffered. If the other party makes a settlement offer that you aren’t happy with, you have the right to reject it. Continue reading to learn more, then contact Horwitz, Horwitz & Associates to discuss your legal options with a personal injury attorney.
Rejecting a settlement offer: Process and considerations
Thoroughly review the offer
The best way to begin is by reviewing the settlement offer in detail. Make sure you understand all terms of the agreement, including the amount of money being offered as well as deadlines for when the payment must be made.
Evaluate your needs
You should also take some time to determine your desired outcome. How much money do you need to cover the damages caused by your injury? Are there any other terms that would be beneficial for your case? Knowing your desired outcome will help you make an informed decision when it comes time to reject or accept a settlement offer.
Assess your options
Once you have a solid understanding of what’s being offered and what you’re seeking, you’ll want to consider the strengths and weaknesses of the case. Ask yourself: Is the settlement offer fair for the losses I have suffered? Is there anything that could change the outcome of my case, such as a new piece of evidence or witness testimony? A personal injury attorney can help you answer these questions with confidence and help you determine what options you have.
If you’re leaning toward rejecting the offer, be sure to assess the risks and potential benefits of doing so. You’re more likely to need to take the case to trial if you reject a settlement offer, and this can be expensive and time-consuming.
However, if you’re confident that the settlement offer is too low for your losses, rejecting it can be worth the extra effort. It’s also possible that rejecting the initial offer will result in a better deal down the line without having to go to court.
If you decide to reject the settlement offer, you’ll need to do so in writing. Provide a clear explanation of why you are rejecting the offer and include any supporting evidence that backs up your position. Your written response should be professional and concise; any inflammatory language could weaken your case.
After you complete the rejection letter, you should send it to the appropriate party as soon as possible. Make sure to keep a copy of the letter for your records and send the letter via certified mail so that you can track its delivery. If you’re working with a personal injury attorney, they can handle this process for you.
Rejecting a settlement offer doesn’t necessarily mean your case needs to go to trial. When you reject an offer, the other party may make a counteroffer that is more in line with what you’re expecting. They may also offer to enter into a negotiation session or pursue some other type of alternative dispute resolution, which can help both sides come to an agreement without involving the court.
You may be able to initiate such discussions yourself, although it’s recommended that you work with a personal injury attorney who can help guide the process. Negotiating with insurance companies can be tricky, and an attorney can help you ensure that your interests are represented fairly.
Prepare for potential consequences
The above options are not always successful. There is a chance that the other party won’t be willing to negotiate, or they may make counteroffers that are still too low for you to accept. If this is the case, you’ll have two main options moving forward: accepting the suboptimal offer or taking the case to trial.
If you decide to go to trial, there is no guarantee that a jury will side with you or award a higher amount than what was initially offered. The liable party may also choose to countersue you for the cost of their legal fees. However, if you work with an attorney, they’ll only bring your case to trial if they believe it has a high chance of success. Furthermore, their representation will greatly increase your odds of receiving the compensation you deserve.
Consult with a legal representative to determine the best course of action
The decision to reject a settlement offer is one that you should never take lightly. Weighing the risks and benefits is essential to making an informed decision, and it’s always best to consult with a personal injury attorney about how to reject a settlement offer before making any moves.
When you turn to the Chicago personal injury attorneys from Horwitz, Horwitz & Associates, you can be confident that your case is in good hands. With over 350 years of combined experience representing victims of catastrophic injuries, our team has the skill, knowledge, and resources to fight for maximum compensation on your behalf. Contact us today at (800) 985-1819 to schedule a free case evaluation.