Expert: Doctor Settlement - 4/22/2007

Question
Dr. Settlement,

I hope you had a nice vacation.  Welcome back!  I appreciated the answer that you left for me on a previous question before you left and your kind tone.

It did help me tremendously and brought up more questions.  I hope you don't mind some follow-up questions on this.

1.  I contacted an attorney at a small firm and proposed his taking a fee on any amounts he could collect above  $50,000 if I am able to obtain that amount on my own.  (As my medical bills will at least be in the $30,000 range).  He would not do that and was offended that I'd even suggest such a thing.  Because of his response, I didn't contact any more attorneys with this proposal.  

Should I expect that response and to have difficulty finding an attorney who will work on those terms?  Did I jump the gun by calling before I had an offer in hand?

2. How do I go about suggesting settling for policy limits?  Do I word a demand letter that I'm willing to settle for policy limits, even if I don't know what those limits are?

3.  I was considering calling the other driver and assuring her that we would not sue her above her policy limits if she will disclose what her limits were.  Is there anything unethical about this or any reason that it is not a good idea?

4.  Will simply notifying my company of a settlement for policy limits with the at-fault company preserve my UIM claim (which is $100k), or are there other steps I need to take to preserve it?

5. Should I expect that my company will be willing to compensate me for pain and suffering if the at-fault company's limits cover only my medical bills or a portion of pain and suffering?

Thank you so much for your insights already.  I hope after reading my question that you don't just decide to go back on vacation!

Answer
Hello again, Eleanore,

First, thank your for your kind comments on our feedback forum.  We who do this volunteer effort all appreciate that kind of feedback.

Now, on to your questions.  I will post your question, but since we have no HTML (i.e. for bolding or color), I will have to post my answers IN ALL CAPS, OK?

1. He would not do that and was offended that I'd even suggest such a thing.  Because of his response, I didn't contact any more attorneys with this proposal.  

Should I expect that response and to have difficulty finding an attorney who will work on those terms?  Did I jump the gun by calling before I had an offer in hand?  
YES, YOU DID COME AT HIM A BIT EARLY.  BUT WHO CARES WHETHER OR NOT HE IS UPSET.  WHY SHOULD HE GET THE EASY MONEY IN A CASE?  LET THE CLIENT GET THE EASY MONEY AND MAKE THE ATTORNEY WORK FOR WHAT HE GETS.  LET’S SAY THAT THEY ONLY HAVE $50K IN LIMITS AND YOU GET THOSE ON YOUR OWN.  THEN YOU HAVE $I00K IN UIM.  WHY PAY SOMEONE $33,333 TO COLLECT THAT WHEN YOU COULD LIKELY GET AN OFFER FOR AT LEAST $30K OR SO ON YOUR OWN?  

YOU MIGHT WANT TO WAIT UNTIL YOU DO HAVE SOMETHING IN HAND TO MAKE YOUR OFFER MORE ATTRACTIVE TO HIM.  AFTER ALL, THE MOST HE IS GOING TO HAVE TO DO IS TO GO AFTER YOUR UIM COVERAGE.  BIG DEAL.

2. How do I go about suggesting settling for policy limits?  Do I word a demand letter that I'm willing to settle for policy limits, even if I don't know what those limits are?
SEND OUT A NORMAL DEMAND LETTER, WITH THE COMMENT THAT IF THE TORTFEASOR HAS POLICY LIMITS OF LESS THAN THE DEMAND, YOU WOULD SETTLE FOR HIS LIMITS (subject, of course, to your company’s opportunity to “buy out” the settlement offer and pursue the tortfeasor directly).

3.  I was considering calling the other driver and assuring her that we would not sue her above her policy limits if she will disclose what her limits were.  Is there anything unethical about this or any reason that it is not a good idea?
ATTORNEYS CANNOT DO IT, BUT YOU COULD.  WHAT ARE THEY GOING TO DO TO YOU—MAKE YOU WRITE ON THE BLACKBOARD 100 TIMES?  I WOULD DO IT.

4.  Will simply notifying my company of a settlement for policy limits with the at-fault company preserve my UIM claim (which is $100k), or are there other steps I need to take to preserve it?
YOU SHOULD GIVE A CERTIFIED RETURN RECEIPT LETTER WITH AT LEAST 30 DAYS’ NOTICE ALONG WITH YOUR DEMAND LETTER AND ALL OF YOUR MEDICAL BILLS.  THE IDEA IS TO LET THEM KNOW THAT THEY WILL BE ON THE HOOK FOR A LOT OF MONEY VIA THE UIM ROUTE AND THUS THEY NEED TO DECIDE WHETHER OR NOT TO SUE THE TORTFEASOR.

5. Should I expect that my company will be willing to compensate me for pain and suffering if the at-fault company's limits cover only my medical bills or a portion of pain and suffering?
YEP---THAT IS THE PURPOSE OF YOUR UIM COVERAGE.  THEY WILL STAND IN THE SHOES OF THE TORTFEASOR AND COVER ALL THAT THE TORTFEASOR WHOULD HAVE COVERED HAD HE ANOTHER $100K INSURANCE LIMITS.

Best Wishes, Eleanore,


Dr. Settlement, J.D. (Juris Doctor)
Http://www.SettlementCentral.Com