What does the term “settlement drafts” mean?
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What does the term “settlement drafts” mean?
After suffering an accidental gunshot wound to the face, a settlement was reached with the insurance company. About 6 months ago, I signed a release of the claim. This week, I received an e-mail stating settlement drafts were being prepared and I would receive them this week. Repayment is due medicare and my own healthcare provider. Do the “settlement drafts” refer to checks/payment to myself and the healthcare providers?
Asked on July 26, 2011 Kentucky
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
Im the legal field the term "settlement drafts" refer to actual checks being issued typically by an insurnce company as payment in full of a written settlement as to a claim or a lawsuit. Most lawsuits are settled where the parties end up signing a settlement agreement setting forth the terms of the settlement, payment for the injuries, releases of the parties, and dismissal of the filed lawsuit to clear the court's docket.
In your case, due to the accidental gunshot wound to the face, you suffered injuries and had health care bills that need to be paid. The settlement drafts that will be sent will be going to you and your health care providers who took care of you as a result of the accident.
Hopefully, you have had a full recovery.
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