Mesothelioma Settlements - The 3 Types You Need to Know About

There are three different kinds of mesothelioma settlements that you can choose from when filing your case. Learn more about the three classes of asbestos-related settlements: out of court settlements, class action settlements and claims made through an established settlement trust.

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Hundreds of thousands of mesothelioma settlements have been resolved in the past few decades. Ever since the first asbestos cancer-related lawsuit was filed in the late 1920's, more than 700,000 lawsuit cases have been filed against about 6,000 companies. This should not be surprising considering how 10,000 people die annually from diseases related to asbestos exposure.

One of the most problematic characteristics about mesothelioma is that health problems do not usually start to manifest until years, even decades (often 20 - 40 years), after the initial exposure. However, there is some tinge of hope for those affected by mesothelioma or other asbestos-induced cancers. Those diagnosed with asbestos-related illness have a number of legal options for mesothelioma settlements. Here are the common types of mesothelioma settlements:

Out of Court Settlement

Out of court mesothelioma settlements are very common. Once a plaintiff files a lawsuit, the defendant may opt to negotiate through an out of court settlement to save the time and money required with a trial. With the volume of asbestos claims and the compounding evidence proving the hazards of asbestos, many companies find it reasonable to settle outside of the court system for their best interests. If the amount of the first settlement seems not fair and just, or if the defendant is resistant to an out of court settlement, the case can then be taken to trial. Out of court mesothelioma settlements negotiated during the course of the trial are also quite common.

Class Action Settlement

This happens when a large-scale lawsuit is filed on behalf of a group of people, usually against a common company. A class action mesothelioma settlement has its own advantages and disadvantages. Because of the large group of claimants, it is almost always easy to get an out of court settlement. However, you can't exercise any form of control over the direction that the case is heading, and the lawyer will not answer to you directly. Moreover, after receiving compensation, you will usually be restricted from claiming additional compensation later on, should further health problems manifest.

Claims through a Settlement Trust

Many companies with pending asbestos lawsuits have declared bankruptcy. If you are filing a lawsuit against such a company, you will be required to file a claim through a settlement trust in order to get compensation. There will be no court visits or medical experts needed, but with mesothelioma settlements of this nature, you can only get anywhere from 5 to 15% of the actual amount of your claim.

It is important that you consult and hire the services of an experienced lawyer specializing in mesothelioma settlements to increase your chances of getting a quick and fair compensation.



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