Let’s talk about proposal for settlement. It’s a tool that can be used to push the defendant, the other side to settle early. now there’s drawbacks and there’s pluses to involve in the settlement. both sides can file one. I’ll explain it. the first thing that has to happen you get away 91 days after you serve the paperwork to the at-fault party, to the defendant before you could even do this proposal for settlement.
Proposal for settlements is that you’re asking for a settlement. It’s in the title- proposal for settlement now. Let’s use an example. if you ask for $50,000 as payment, you have to get a settlement 25% higher so a verdict of $75,000. So if you ask for 50, 000 and you get a verdict of 75, 000.01 the other side, the at-fault party has to pay all the attorney’s cost and fees. the moment you file a proposal for settlement there’s a strict 30 days.
So, it puts pressure on both sides. it depends on how comfortable you feel with the case. but it’s a very strong tool to push the case to long when nothing’s happened. Many times this goes back and forth as well the 30-day lapse can happen if nobody covers and then all depends on what happens at time of settlement. whether you’re covering costs or not. it doesn’t necessarily have to go to trial but those percentages still apply. If you have any questions on this of course call the office at 833-4 bad day.
(Transcript from the video, transcribed but not reviewed)
