Interim payments - why they are so important for serious injury victims
Article Source: HealthSnare.com
For all accident victims, the swift settlement of any compensation claim is important. However, for those who have suffered a more serious injury, coping with the financial fallout of a major, life-changing accident is all the more urgent, particularly if the victim is the major wage earner in a home.
For some victims, the compensation claim process can drag on for years. But the suffering and financial hardship can begin almost immediately and in these instances an interim payment can make all the difference. While the family of a victim may not want to think about legal proceedings while their loved one is in hospital recovering, it is vital to talk to a claims specialist as quickly as possible if an accident is the fault of someone else's actions.
What is an interim payment?
Once culpability has been established, an experienced serious accident solicitor may be able to secure an interim compensation payment. This is an amount that will be calculated as part of the final settlement, but can be paid out almost immediately by the third party's solicitor. For serious accident victims this payment can mean that essential medical treatment and therapy can be paid for without putting a strain on the family's budget. It can also mean that essential adaptations to a victim's home can be made while the victim is still in hospital. They can then continue their recovery in the comfort of their own home without having the additional problems of access, being able to move around the house unaided or even have specialist medical equipment installed.
It has been shown that serious accident victim's recovery can be speeded up considerably by getting them back into an environment in which they feel comfortable, namely their own home. An interim payment can help that become a reality, ensuring that the victim moves out of a primary care unit earlier and putting less of a strain on the system as well.
Concentrating on recovery
Most of all, an interim payment allows the victim and their family to concentrate on the recovery process rather than worrying about financial issues. A serious injury such as a spinal or head injury can impact on a victim's ability to return to work, possibly for the rest of their lives. The worry of losing their income is one they don't need when trying to recover from a serious accident, so an interim payment can act as a financial buffer while the final settlement is sorted out.
It also gives the victim some reassurance that they will receive the compensation they deserve. An interim payment is usually a precursor to a final agreement of responsibility by a third party and means that once the final details are clarified, the full compensation amount will be paid without further dispute. Again, this gives the victim the breathing space they need to concentrate on recovering rather than worrying about their finances.
If you have had a serious accident, it is essential that you or a member of your family talks to a specialist solicitor as quickly as possible. Those who specialise only in serious injury claims will have a far greater understanding of the importance of settling a claim quickly and are more likely to be able to arrange an interim payment. They will also, through their experience of dealing with serious injury claims, have more empathy for your case and understand your needs far more than a solicitor who is inexperienced in dealing with larger accident claims.
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Date: Tue, 12 Oct 2010 Time: 4:57 PM
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