What is a lump sum settlement?

A lump sum settlement is one way injury settlements are paid. This is when the total amount of the settlement is paid all at once. Many victims prefer this method in order to ensure they receive the amount they were awarded without any future issues, i.e. the at-fault party filing for bankruptcy in order to avoid paying the settlement amount. If the settlement amount is a large amount, the payment may be set up through a trust.

Eric K. Washburn
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Personal Injury & Wrongful Death Lawyer Serving Va Beach, Norfolk, Chesapeake & all of Virginia