How to get a lump sum settlement faster

Michigan workers comp lawyer explains the redemption process and how to waive the 15-day appeal period.

It’s not an easy decision to settle your workers comp case. You are giving up your right to future benefits in exchange for a lump sum payment. A lawyer can make specific recommendations but the decision is always yours.

If you decide to settle your workers comp case, it must be approved by a magistrate at a redemption hearing. The magistrate will be given a brief explanation as to why your case is being settled and will review some of your medical records.  The magistrate will also want to hear that you understand what benefits you are giving up.

Michigan’s 15-day waiver rule

A workers comp settlement does not become final until 15-days from the date of redemption. This gives both parties the chance to appeal the settlement if something comes up.

A settlement can only be appealed based upon good cause or a legal reason. You cannot just change your mind because you are unhappy with the amount.

The State of Michigan must also agree to waive the 15-day appeal period. This is usually accomplished with a telephone call to the director or his designate after the redemption hearing.

Getting your settlement faster

If your settlement is approved by the magistrate and the 15-day appeal period has been waived, it is considered final. You should receive a check within about two weeks.

Some insurance companies and employers will agree to waive the 15-day appeal period but not pay the settlement any faster. This is a big problem for people who need to settle their workers comp cases because of financial distress.

To remedy this problem, the Director of the Workers Compensation Agency has now changed its policy regarding 15-day waivers. Parties must now act in good faith to pay the settlement within 15 days. This will be considered a formal condition before waiver is granted.

Help is available

If you are currently receiving workers comp benefits, a lawyer can only charge a maximum of 10% of your total settlement. This cost is usually recouped many times over because a  lawyer can always negotiate a higher settlement offer.

Call (855) 221-2667 for a free consultation with one of our workers comp lawyers in Michigan. We are available to help you understand your legal rights and get the best workers comp settlement possible.

Alex Berman is the founder of Michigan Workers Comp Lawyers. He’s been representing injured and disabled workers exclusively for more than 35 years. Alex has helped countless people obtain workers compensation benefits and never charges a fee to evaluate a case.

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