For many people, instant gratification can be irresistibly attractive, even when they know that it may not be best. We understand that a lump-sum Workers’ Compensation settlement for wage loss and medical benefits can seem very attractive when you are injured and unable to work.
The truth is that a lump-sum or partial lump-sum settlement may be a good option, but it may also cost you a great deal. What you really need to know is that without a lawyer, your employer or their insurer may not offer you a fair deal. Protect your Workers’ Compensation benefits by calling 267-589-0090 or contact us online for a free consultation. We will make sure that your interests are protected.
Although a judge must approve them first, Compromise and Release Agreements allow injured workers to take a one-time lump-sum settlement for past, present and expected wage losses or for both their wage losses and their medical benefits. If approved, an injured worker could receive his or her settlement in as little as one week. In addition, only the interest on deferred amounts is taxable.
The answer to the question of whether or not you should sign such an agreement is more complicated.
Essentially, the answer depends on the value of your case. What is that value? Ultimately, it is a number that takes into account factors such as the nature and extent of your injury, the medical treatments you have had or may need in the future, the amount of wages or salary you make, your age and a number of other things. Our Philadelphia Workers’ Compensation lawyers can evaluate whether or not a lump sum might be a good option for you and, if so, how much that lump sum should be.
For more than two decades, Gross & Kenny, LLP, have dedicated their entire practice to helping injured workers get the complete package of Workers’ Compensation and disability benefits they are entitled to under the law. For a free consultation about your claim, call our Philadelphia Workers’ Compensation lawyers at 267-589-0090 or contact us online.
At Gross & Kenny, LLP we view the safety and well-being of our clients, staff and business partners as our highest priority.
The situation regarding the COVID-19 virus is continually changing, and we are following all recommended guidelines to stay healthy.
Currently, our law firm is remaining open to serve your legal needs. If you were working light duty or modified duty as a result of a work injury in Pennsylvania and were recently laid off or terminated from your job due to the Coronavirus you may be entitled to weekly workers' compensation checks for lost wages moving forward. Contact us to find out . We are open and ready to assist.
We are happy to arrange for phone or video consultations should you have any concerns about keeping your scheduled appointments with us. We are also able to exchange documents via secure drives or email.
Should you have any concerns regarding an upcoming meeting with us, please contact us online or call (215) 512-1500.
We are continuing to fight on behalf of our clients and that we are all able to handle things even if mandated by the government that we work remotely.
Thank you and take care.