Mesothelioma patients can avoid a trial and still receive just compensation in the form of a settlement. The average mesothelioma settlement ranges from 1 to 1.4 million dollars and can pay for a patient’s treatment.
A mesothelioma settlement is offered to victims of asbestos exposure as a way for asbestos companies to avoid trial. Accepting a settlement can be more beneficial to a patient because with it they can avoid a lengthy trial and receive a guaranteed sum of money to help pay for treatment.
Guaranteed Compensation: There is no guarantee of financial compensation in a verdict. Settlements ensure the plaintiff gets financial help.
Speedy Payment: Lawsuits that go to trial can take years to finalize. Settling out of court helps forgo a lengthy lawsuit.
Confidentiality: Unlike lawsuits that end in a jury verdict, settlements remain confidential.
What is a Settlement?
Mesothelioma settlements are part of the process that occurs when a victim of asbestos exposure files a lawsuit against a negligent company. Asbestos companies offer settlements to avoid going to trial, which would cost them time and money. Your attorney negotiates the settlement amount with the asbestos company and presents it to you for approval.
Settlements are common in asbestos litigation. In fact, the majority of asbestos-related lawsuits end in a settlement and only about 1 percent actually go to trial.
The Benefits of a Settlement
Taking a settlement presents a number of benefits to mesothelioma patients.
Going to trial can take a lot of time. Agreeing to a settlement sidesteps the need to go through the lengthy process of a trial. By avoiding a trial, patients can get compensation more quickly and start getting better treatment sooner.
Additionally, settlements guarantee a certain amount of compensation. Going to trial puts the outcome of the lawsuit and the amount of compensation in the hands of the judge and jury, whose decision is not entirely predictable. Agreeing to a settlement is a surer way for a patient to get the compensation they deserve because the amount is agreed upon by all parties during negotiations.
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Determining a Settlement
The amount of a settlement varies according to a number of factors, each of which the patient’s attorney and the asbestos company review during the negotiations process. These factors include:
- How much a patient has spent on treatment for mesothelioma
- The amount and extent of asbestos exposure the patient experienced
- Any pain and suffering endured by the patient as a result of their diagnosis
- Lost wages or debt
An experienced mesothelioma attorney will already have thoroughly researched these factors and will use the information to obtain a just amount of compensation for their client.
Choosing a Settlement or Trial
Most of the time, taking a settlement is preferable to going to trial. The settlement amount is guaranteed and less time is spent in litigation. However, a few circumstances may compel a patient and their legal team to decide to go to trial instead of accepting a settlement offer.
A mesothelioma lawsuit will usually go to trial if an asbestos company and the patient do not agree on the amount of the settlement offer. In this case, it may benefit the patient to go to trial and try ti get a fairer amount. The drawback of not taking a settlement, however, is that neither the amount of compensation nor the outcome of the trial is guaranteed.
Which option is more beneficial to the patient depends on each individual’s circumstances and the counsel they receive from an attorney experienced in mesothelioma litigation. If you’ve been diagnosed with mesothelioma, contact a member of our Patient Help Team. We can help you find an experienced mesothelioma attorney who can get you the compensation you deserve.