3 Types of Mesothelioma Settlements
3 Types of Mesothelioma Settlements
Since the 1920s, when the first asbestos related lawsuit was filed, more than 700,000 additional suits related to asbestos exposure have been filed against approximately 6,000 companies. In most instances the plaintiffs have sought compensation for mesothelioma or other asbestos related diseases that they had acquired as a result of having been exposed to asbestos in the workplace.The number of lawsuits should not surprise anyone because approximately 10,000 people per year die from diseases that are related to having been exposed to asbestos.One of the very real challenges that a mesothelioma victim is faced with, aside from the disease itself, is finding the company that is at fault. That's because symptoms of asbestos related diseases often do not appear until twenty- to forty years after a person has been exposed to asbestos particles or asbestos fibers.If you are about to get involved in a mesothelioma lawsuit you will probably have to decide what course of action to pursue as far as getting a potential settlement is concerned. There are 3 different types of mesothelioma settlements from which to choose. They are class action settlements, out of court settlements, and claims that are made through an established settlement trust.Class Action SettlementsClass action settlements are possible when a large scale lawsuit is filed on behalf of many individuals. In most cases the opposition is a particular company. There are advantages and disadvantages related to participating in a class action lawsuit.On the positive side, because there are a large number of claimants, it's usually rather easy to obtain an out of court settlement.However there are drawbacks. You will not be able to have any control in the direction that your case is heading. And the attorney who represents you will not directly answer any of your questions or concerns. In addition, after you are compensated, you will usually be restricted from being able to claim any further compensation, even if additional problems manifest themselves.Out of Court SettlementsOut of court settlements are quite common for mesothelioma lawsuits. Once you file your lawsuit the defendant can opt to negotiate an out of court settlement. Defendants know that if you agree to an out of court settlement it will save them the time and money that would be required to go to trial.So much evidence has become available that has proven the hazards related to asbestos exposure that many companies now realize that it is cheaper to settle outside of the court system.If the amount that the defendant first offers doesn't seem just or honest, or if the plaintiff would rather go to trial, then the lawsuit can still be taken to trial.During the course of the trial the defendant may offer a more reasonable out of court settlement that the plaintiff can agree to.Claims Through Settlement TrustsBecause so many lawsuits have been filed against them, a lot of the companies that had pending asbestos lawsuits have declared bankruptcy. If you are involved in a lawsuit against an asbestos company that has declared bankruptcy you will have to file your claim through a settlement trust in order to be compensated.Although there won't be any medical consultants or court docket visits involved you can expect to realize only five- to fifteen percent of the actual amount of your claim.If you want to obtain fair compensation then you should seek the advice of and hire an experienced attorney who specializes in mesothelioma settlements.
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