If you have suffered a severe injury due to another person’s negligence, you may face expensive medical bills and lost wages. You may also be unable to work or perform daily activities due to your injuries. Sometimes, you may need to hire a personal injury lawyer in Stoney Creek to pursue compensation for your pain and suffering.
However, there are some cases where it may not make sense to go through litigation against the person who caused your injuries. For example, if they were not at fault for your accident, you could have to pay their legal costs as well as your own if you lose the case. Likewise, if they do not have enough assets or insurance coverage to cover your losses, then going through litigation would be a waste of time and money for both parties involved.
There are several options available for those who want to avoid litigation but still receive compensation for their injuries:
1. Negotiated Settlement
This is when your lawyer discusses the case with the defendant’s attorney and reaches an agreement on how much money will be paid out in exchange for dropping the lawsuit. This is typically done after filing suit but before going to court. A negotiated settlement can come in different forms, including a lump sum check, a guaranteed stream of payments over time, or a court-approved settlement agreement.
A negotiated settlement can bring the legal process to a close much more quickly, so you won’t have to worry about it for quite so long. In addition, negotiating a settlement can help lower your legal expenses and give you more control over how much money you spend on this case.
Mediation is a process in which both parties sit down with a neutral third party, a mediator, who facilitates negotiations between the two parties. The mediator does not make decisions for either party but instead helps them come to an agreement on their own. Mediation can be an effective way of resolving disputes because it is less formal than litigation and allows both parties to have input into the outcome. A lawyer can help you weigh your options so that you can make an informed decision about how best to move forward with your claim.
Arbitration is similar to mediation in that it involves negotiation between two parties. However, arbitration differs from mediation, rather than having one neutral third party mediate the negotiations. Instead, each side brings its attorney to represent them while negotiating potential settlement terms (which may include monetary compensation). Once both sides agree upon terms, they are submitted to another neutral person, known as an arbitrator, who will decide whether or not the terms satisfy all parties involved.