If you have an ongoing Personal Injury or Medical Negligence claim, it may be possible for you to receive an interim compensation payment before your claim is fully settled. This is a part-payment of your compensation which can help you to cover your costs while you're waiting for your claim to be finalised.
Your Personal Injury Solicitor will be able to advise you on whether you can request an interim compensation payment, and they can arrange this if so.
What Are Interim Payments For?
If you have suffered an injury because of an accident that wasn't your fault, then you could be entitled to compensation. However, Personal Injury claims are often complex and can sometimes take years to settle. During this time, you may find yourself unable to work and as such unable to cover your living costs or unable to pay for medical treatment.
This is where interim payments come in.
Interim payments can be made while your claim is still ongoing, so that you're not left in financial hardship while you're waiting for your compensation to come through. Depending on how long your claim takes to settle it's possible for multiple interim payments to be made to you.
Without interim payments, you could feel pressured into settling your claim quickly for far less than it's worth because you're in urgent need of the money. This might be detrimental to you in the long run as, once the claim is settled, you will not be able to make any further claims for compensation for your accident.
Interim payments can also be requested to cover the cost of treatment needed to assist you through rehabilitation. Recovery of the cost of this treatment can then be sought by adding it to the value of the claim as part of the financial losses being claimed.
How Do Interim Payments Work?
You may be wondering where this money comes from. Once liability for the accident has been determined in your favour, the person (or organisation) at fault will make the interim payments to your Personal Injury Solicitor, who will pass these on to you.
As liability has been admitted, they will need to ultimately pay compensation to you anyway. Negotiations can take months, so interim payments can be requested during this time to tide you over. These payments will be significantly less than the expected settlement amount, so there's no risk of overpayment.
The amount that is paid to you as an interim payment while the case is ongoing will be deducted from the final settlement figure.
Initially your Solicitor will ask the other side to make a voluntary interim payment to you. If they refuse to make this payment, then your Solicitor can apply to the Court for an interim payment to be made. It's important to note that this application can only be made if your Personal Injury claim has already been lodged with the Court.
Medical evidence will need to be obtained by your Solicitor to verify the requirement for an interim payment. This evidence will be sent to the Court, along with the accompanying application paperwork. The Court will then decide whether to order an interim payment to be made to you. They will check that liability has already been admitted, that there is a good reason for the interim payment being requested and that a reasonable amount of money has been requested.
For free legal advice call our No Win No Fee Solicitors on 0330 606 9587 or contact us online and we will call you.