The parties may arrive at a settlement agreement at any time during a civil suit. In some cases, a settlement agreement may be made before the case is filed in court. This is called an out-of-court settlement. Many North Carolina personal injury cases end in out-of-court settlements.
In order for the case to settle, the at-fault party’s insurance company must recognize the validity of the case. The costs in bringing the case may be reduced by settling out of court. In a settlement, the attorney representing the plaintiff usually presents evidence regarding the defendant’s liability for the injury. If the attorney is persuasive and the insurance company believes they could lose in trial, they will usually make a reasonable settlement offer.
There are pros and cons to verdicts as well as settlements. You may want to reach a settlement agreement before a trial starts to receive compensation sooner. This can also reduce your legal costs and guarantee the financial compensation amount. A trial could result in a higher compensation amount — or it could result in no compensation at all. A trial can take much longer and if you are successful, the payout time can be longer.