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How Long After a Deposition Will I Get a Settlement in Brooklyn?

Posted in Personal Injury on June 29, 2023

How Long After a Deposition Will I Get a Settlement in Brooklyn

The aftermath of a serious personal injury can be shocking, frustrating, and distressing, to say the least. At some point, either you or the defendant (or both of you) might need to participate in a deposition. By this time, settlement negotiations should be well underway.

Your claim in Brooklyn will be governed by New York state personal injury law. For a deposition to occur, you must have already filed a personal injury lawsuit. There is no hard and fast answer on how long it will take to receive a settlement after a deposition. There are some factors, however, that will allow you to formulate an educated guess.

What Is a Deposition?

In many ways, a deposition resembles cross-examination in court. Cross-examinations that take place during depositions do not happen in court, however. More likely, they will take place in the conference room of an attorney. The judge is not present, but the proceedings are recorded and often constitute admissible evidence.

Despite their formal setting, you are under oath while giving a deposition. You can face criminal charges for lying under oath. The opposing party will also exploit any inconsistencies between your statements during deposition and any under-oath statement you make at trial (if indeed there is a trial).

How a Deposition Can Affect Settlement Negotiations

Depositions are part of the pretrial discovery process that includes written questions (interrogatories), demands for production (a demand to examine physical evidence or copy documents), or a request for admissions of trivial or barely relevant facts.

If your deposition and the other parts of the pretrial discovery process go well for you, you might accumulate enough evidence to reach a dominant bargaining position. At that point, it can almost certainly demand and receive a generous personal injury settlement with no need for further negotiation. If you give a poor deposition, you might have to abandon your claim altogether.

Receiving the Settlement Check

There will be some delay between the time the parties agree to a specific settlement and the time you actually see the money in your bank account. A few steps may need to take place, including:

  • You must draft and sign a settlement agreement. The settlement agreement will obligate the other party to pay. It will also obligate you to not only drop your lawsuit but also abandon any future claims arising out of the same accident.
  • The defendant must issue the check within a reasonable time. With a large insurance company, there might be some bureaucratic delay. Your lawyer will receive the check.
  • Your lawyer will deduct any appropriate expenses—their own legal fees, any case expenses they fronted you, and any medical lien placed on your settlement, if applicable. After these deductions, your lawyer will send you the remainder.

If the opposing party balks at paying even after signing a settlement agreement, you can sue them on a contract claim. The settlement agreement is your contract.

Hire a Personal Injury Lawyer To Help You Prepare Your Deposition

Preparing for a deposition is not an easy task. Attempting to give a deposition without proper preparation could be disastrous. You could lose your claim, yes – but in a worst-case scenario, you could end up in jail for perjury or contempt of court. Hire a lawyer long before your deposition so that you will have plenty of time to rehearse it.

Most personal injury lawyers charge a contingency fee for their legal services. That means a certain percentage of your recovery goes to your legal fees (typically 30% to 40%). Remember that if you negotiate a contingent fee arrangement with your lawyers, you won’t have to pay any legal fees unless you win.

Contact Our Personal Injury Law Firm in New York, NY

If you need legal assistance, contact the New York City personal injury lawyers at Law Offices of Jay S. Knispel Personal Injury Lawyers at your nearest location to schedule a free consultation.

We have two convenient locations in New York:

Law Offices of Jay S. Knispel Personal Injury Lawyers – New York City Office
450 7th Ave #1605
New York, NY 10123
(212) 564-2800

Law Offices of Jay S. Knispel Personal Injury Lawyers – Brooklyn Office
26 Court St Suite 2511
Brooklyn, NY 11242
(718) 802-1600

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