After a car accident, you may wish to seek compensation from the other driver due to their negligence. However, while most car accident cases are settled out of court, you might find yourself struggling to negotiate a settlement. However, rather than go to trial, your car accident attorney might advise you to resolve the case through third-party arbitration.
Arbitration Vs. a Lawsuit
Filing a lawsuit is expensive and time-consuming. There is also no guarantee that you will win your lawsuit, and in some cases, you may even end up owing money. However, with arbitration services, you will be able to choose when you want to schedule arbitration and the service you would like to use.
In a courtroom, any ruling is binding. You will be able to appeal the decision, but if you lose your appeal, the case will be considered settled. However, while there is a binding version of arbitration, you can also choose a non-binding arbitration. Then, if you aren't happy with the results of the arbitration, you could file a lawsuit and resolve your car accident case in court.
Advantages of Arbitration
You will not know whether you will receive a jury that is favorable to you in a courtroom. However, when choosing arbitration, you may choose who the arbitrator will be. However, you will need an attorney to guide you through this process so you can maximize the chances that you will have a favorable outcome with your case.
After you have chosen the arbitrator, a date will be set for the deadline in which all documentation needs to be exchanged. Both you and the other party must also agree to the date for the arbitration hearing. This makes it much easier to juggle arbitration with your daily schedule and recovering from your car accident.
The Arbitration Process
Once your arbitration has begun, it will proceed at a faster pace than a courtroom. Both sides will present their case and will make closing arguments. An attorney will be able to represent you in court and can counter the arguments that the opposing side makes. After the arbitration is over, the judge will take several days to come to a decision.
Once the arbitration process is over, you may receive compensation if you win your case. The arbitration case is entirely private, unlike a car accident court case where the case will be a matter of public record.