A settlement occurs when you resolve your claim outside of court. There are numerous reasons to settle your case. Know that the decision whether to settle or to continue to trial is completely up to you. Chicago-area attorney Rob Cohen will advise on whether he thinks you should settle or not, but he will not make the ultimate decision for you.
A settlement can save you money in attorney’s fees. It will guarantee you payment, instead of taking a chance at trial. It will help you receive payment more quickly, as an appeal of a trial decision can take months or years to conclude.
Rob Cohen prides himself in his ability to reach settlements advantageous for his clients. He realizes that the long litigation process can leave his clients in a crisis, and often advocates for a settlement on their behalf. If you are in a position where you would prefer taking a settlement to taking your claim for any reason, do not hesitate to let him know.
How to Decide Whether to Settle
There are many variables that Rob encourages his clients to consider when deciding whether to aim for settlement or a victory at trial.
First, he will consider with you your needs. If you need a quick resolution, a settlement is likely the best path to take.
Next, he will consider, with you, the strength of your case. He will look at outcomes in similar cases, weigh the evidence and your chances of winning at trial, the difficulties of trying your case, and your opponents evidence.
All of these factors can inform whether or not settling your claim is a good idea, whether you have received a settlement offer or are considering making one.
What to Consider When Mulling a Settlement Offer
When deciding whether to make, or accept, a settlement offer, Rob Cohen encourages his clients to help him come up with some guidelines for the settlement.
First, consider the minimum amount you will accept to end the case. This may not be all that you are owed. Think of it as the minimum amount that would leave you satisfied with what happened.
Next, he will discuss with you what the case would be worth at trial in a range of amounts, as well as the likelihood that you would receive a winning verdict.
Next, he will discuss with you the defendant’s resources. It does not make sense to ask for more money in settlement than the defendant can afford. Similarly, a large reward at trial becomes increasingly worthless if the defendant cannot afford to pay it. The defendant’s resources can have as much of an effect on a settlement offer as any other variable.
Finally, Rob will discuss with you the tactics used by the opposing counsel. Rob’s decades of experience in and around Northern Illinois have made him familiar with many of the attorneys around town. He has sat across the negotiating table from many of them. Because of this, he has a good understanding of the negotiating styles of many of the attorneys that you may face. Those tactics may be helpful in deciding whether to accept an offer, counter an offer, or reject it completely.