If you are about to receive a settlement check from a personal injury claim, you may be wondering, “How long can a lawyer hold my settlement check?” The answer will depend on a number of factors. In some cases, the settlement check will be made out to your attorney. However, there are some exceptions, and you should contact your attorney before making this decision. Here are some reasons why you should retain an attorney and how long can they hold your settlement check.
A lawyer may provide a cash advance from a settlement check. While attorneys are not required to offer such services, they may be willing to do so if you have a large settlement and a good attorney-client relationship. It may take several days or weeks to calculate the costs of the settlement, which is not ideal when you are in a bind. Meanwhile, your attorney is waiting on your settlement check to settle any unpaid bills.
Once the insurance company processes the signed documents, they will forward your settlement check to your attorney. Your attorney must then deposit it into a special trust account and wait for the bank to clear your funds. This process can take as long as fourteen days. Then, your attorney must pay any outstanding expenses and liens on your behalf. During this time, you may have to wait another five to ten days to receive your settlement check.
