I have an award for future medical care on a California Workers Comp injury. Due to recent changes in the state laws I have to see the insurance company doctors. I’ve had 2 surgeries on my shoulder and it still isn’t right. I recently saw one of their docs due to numbness in my shoulder & arm. He completely brushed me off without doing anything. My attorney told me I can request a second opinion, then a third opinion then a QME. But I probably would not get anyone to do anything. I was also told by my attorney that since the state changes I may have to take a cash settlement. Any legal opinions on this?
Posts Tagged ‘Settlement’
When my friend filed his taxes he left off a settlement so he could get a larger refund, will he get caught?
29
Jul
The settlement was in the amount of $20,000. When he received it, he was told he had to pay taxes on that amount, but he was in such a hurry to get his refund that he e-filed without that info. Will he get caught and how can this situation be remedied?
He received the settlement from a former employer for wrongful termination.
He has not yet received a 1099.
Is it normal to stop all payments to creditors after signing up with a debt settlement program?
24
Jul
How about late fee from creditors? Would they keep charging every month?
Thanks to all answers. I appreciate it.
Do I have to pay taxes on a lawsuit settlement?
23
Jul
I live in Kansas and had a 70k settlement which I got 50k after fees and stuff. It was for a traffic accident a couple years ago. How much taxes will I have to pay if the answer is yes?
How to talk cash settlement with credit card companies?
20
Jul
I live two paychecks behind, and spend a lot of time worrying over not having cash for gas or food. I’ve got a lot of credit card debt from at least three major cards and one smaller one, but I’ve long since stopped paying on any of them because -all- of my money goes to the bare necessities first. The only thing kept current is my car note and rent (barely). I was also recently evicted from another apartment complex.
However, I am getting a tax refund and I’m wondering if I could use it to talk a few of the cards into a settlement. My entire refund will not completely cover even one of the cards — but I have payed the principle on those cards twice over since I first got the debt, and for some reason they think that if I couldn’t afford the minimum payments last year, then maybe I’ll be able to afford 30% interest and a 400 minimum payment now. (Which grows by the hundreds each month, because they just stack more fees + interest on top.)
How could I approach them about this? What would be an acceptable offer? (For one card, the principle is 2,500, but the amount owed on the card is over 2800 because of their fees.) How long should I wait before approaching them with this?
A co-worker told me that threatening bankruptcy won’t work anymore because bankruptcy still makes you responsible for paying the full debt anyway. This is sadly my next step if I can’t get out and away from this, and I do not have -any- known liquidatable assets except a car — which has been kept current, stuck in a SEVERELY upside-down loan (think, 14,000 for a car worth only 2500) and is owned by another lender anyway. I do not own a home, and most of my belongings were paid for in cash.
I’m just so glad that every single answer but one thus far has just been spam. So very helpful.
Settlement payments/check?
12
Jul
I have recieved a letter from my attorney about how much I am going to get back from a car accident I was involved in. I have signed it to say it’s ok to settle for what I will be getting. After he recieves it, I am supposed to start getting my settlement. I’ll be receiving just a little over 20,000… will I get this in one lump sum or payments? Does anyone know?
What I am asking is when can I expect the insurance company to send the check to me or my lawyer? What goes on now after this step?
Thank you to everyone who has read this question and will respond in advance.
When can I expect them to send him a check? How long does this usually take?
Thank you!!!
IRS wants taxes on sexual harrasement settlement > anything I can do??
10
Jul
I just received a letter from the IRS regarding my 2006 return. They say I didn’t pay taxes on a sexual harrasement settlement. The people that paid the settlement reported to the IRS twice, using 2 different addresses (therefore stating I received twice the amount that I actually did receive). I never received a 1099 on this and did not claim it on my return. Any advice on what I should do. I have put in a call and am waiting to hear from an accountant.
cash settlement of currency forwards?
09
Jul
the cash settlement amount is the amount necessary to compensate the party who would be disadvantaged by the actual change in market rates as of the settlement date. but in the following questions:Gemco expects to receive EUR50 million three months from now and enters into cash settlement currency forward to exchange these euros for U.S. dollars at USD1.23 per euro. If the market exchange rate is USD1.25 per euro at settlement, what is the amount of the payment to be received or paid by Gemco? the result is Gemco should pay 1 million dollars to counterparty. why is it so? without contract, Gemco could have received more dollars at market rate. Gemco should be disadvantage but why it should pay the money to the counterparty that is advantage part? I can not figure it out.. please help me..thank you
Why should we have to pay taxes on a car settlement if it’s in a closed account till I’m 18?
08
Jul
Why if I’m under the age of 18 and I had a car accident and I got a settlement over it i cant get my money until i’m 18 but if I need money before I turn 18 me and my mom have to go to court for my money and then the judge has to say it is okay.. I have no problem with it being in an account (like they are doing till im 18) but why is it if I put it in a savings account to where it can draw interest we have to pay taxes on that @ the end of the year.. We’ve never had to do that with all our other savings account so why should we have to on this one?
Should I continue making payments on a Credit Card Settlement?
30
Jun
I owed $5500 to a credit card. I was trying to pay it off in full, but between high interest rates (22%), and the fact that I am over the limit ($1500 over), i decided to settle. They offered me a settlement of $2600, which I have to pay over a 6 month period. Now, upon looking on yahoo answers, everyone is saying that settling is the same as not paying it at all. Should I continue to pay on my settlement? If it is going to look the same overall, then there is no need to keep paying, however I am trying to fix my credit as best I can. Any advice would be appreciated!!
California Divorce Cash Settlement In Lieu Of Alimony?
28
Jun
Is a cash settlement in lieu of alimony considered taxable income for the recipient?
if i received an accident settlement, do I need to report that on my taxes, and if so where?
27
Jun
I was in a bicycle crash and received a settlement, and am not sure what to do for my tax return, the settlement was for 1,800.
How can I get my judgement settlement money now instead of monthly payments?
18
Jun
My mother has a condo (with a lease) that a woman was supposed to buy. Instead, she ducked out without my mother’s knowledge; to purchase a house. She broke the lease and I hired a lawyer and got jugement against her for over $6000.00 plus court and attourney fees. She asked the court to let her pay 25.00 a month and in the meantime went out and bought a new vehicle with a monthly payment of over $450.00. It will take over 22 years to pay my mom the money that she agrees she owes her. Is there a way that I can get my money in a lump sum ? Is there a legitemat way to get my money now, even if I have to take less or a % fee company that can get my money now? I’ writing this for my mother who is 81 years old . She needs this money now in order to supplement her income and to fix the condo so that she can sell it ?