When you pursue a personal injury case, the defendant may offer you a settlement outside of New Mexico courts. You may weigh the options and decide to accept the settlement to avoid lengthy, costly litigation. But what happens when you decide to settle out of court, and do you end up losing more in the long run?
Losses and gains are determined entirely by the individual case and the amount of settlement the defendant is willing or able to offer you. Settlement procedures, however, are fairly straightforward. As described on the website for the Judicial Branch of New Mexico, settlement – also known as ADR, or “Alternative Dispute Resolution” – primarily involves a conversation between the parties involved in the case, often with legal counsel present and mediated by a neutral party with the knowledge needed to guide the proceedings. A settlement facilitator may be present as well, offering support to both sides of a case in understanding their positions and coming to an agreement on fair settlement offers.
Settlement may become an option if either you or your opponent can no longer afford a protracted dispute, or if you mutually agree on the damages owed and feel no need for a court decision to facilitate that agreement. You may also find the settlement releases funds to you more quickly, but may have to face that without a court order you do not have leverage to demand a larger payment amount. Settling has both its negatives and positives, and you may require insight from a knowledgeable settlement facilitator to determine if it is the right option for you.
This has been a reference post provided only for informational purposes. It does not stand as a substitute for legal counsel.