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  1. #16
    Gong Shooter
    Join Date
    Apr 2008
    Location
    Littleton
    Posts
    403

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    I will use generic whole numbers to illustrate my point:

    Policy limit $100, split 50/50 with W/C ins co. I was unaware nor would I consider this $100 as given to me, but put in a trust account to decide who it belongs to. Merely released by the at fault driver's ins co so as to not be in "bad faith". In my mind, this would equal roughly $17 to the attorney, $33 to me, $50 to W/C.

    W/C agrees to pay me the $50 back. In my mind this means another $10 to the attorney and $40 to me.

    Total here for W/C = $0, my attorney $27, me $77. Follow me so far?

    This is how they saw it:

    Policy limit $100 = $33 to them, $50 to W/C, $17 to me. W/C pays the $50 back = $10 to them, $40 to me.
    Total: W/C $0, my attorney $43, $57 to me.

    Again, since I have hired them to represent MY best interests, I think they should have said during the conference "Hey, you're already paying us $33 out of the PI limit $100 regardless of how you word your settlement. You should tell the W/C ins co to just release their claim to the $100 and not pay you anything. The net result is the same to them, but it is going to save you a lot of money in fees from us."
    Total here: W/C $0, my attorney $33, me $67.

    Big differences to me here when you convert them into real world numbers.
    Last edited by VDW; 09-02-2015 at 18:27.

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