My Journey on Passive Income that 99% Population Don’t Hear About (6) – Real Numbers?

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Continuing from last post, I flew back to BC for the settlement negotiations. I noticed that the hotel was only booked for 2-3 days, which puzzled me. I was my first litigation case and thought the out-of-court settlements would take a lot of back-and-forth like the movies, therefore would take a long time. However, my lawyer was confident in reaching settlement quickly. He explained that most of the back-and-forth had already happened over the past few years, and at this point, both parties had presented all possible evidence. So, at this stage, it was all about waiting to see how much the insurance company would offer and deciding whether to accept or go to trial ?

Although he spoke about it in such a relaxed way (probably because he has settled thousands of cases before), it was my first time hearing about a settlement offer, so I was a bit nervous. I was even rehearsing a bit myself, wanting to show up with a serious face. It turned out however, to be quite different from what I expected. The entire process was surprisingly “amicable.” It was not informal, of course, since lawyers and court clerks were all present. However, the overall tone was quite friendly – for instance, as soon as we entered, lawyers on both sides greeted each other as if they were old friends who had known each other for years (which turned out to be true lol). During the break, my lawyer even told me not to rush or comment too much about what the other lawyers were saying. Rather, he suggested us to wait and see how the other side would propose the compensation amount in the afternoon. He then went on to chat with the other party’s lawyers in a friendly manner. 

I overheard a constant exchange of different names, case details, and compensation amounts between them. It seemed like it was the same group of lawyers on both sides handling a lot of car accident cases! This went back and forth for about two or three days. At times, the insurance company’s lawyer even told the clerk to go off record when my lawyer was explaining some legal concepts to me. ? After two or three days of discussions, the insurance company finally disclosed the numbers! I’ll continue the story in the next update, please stay tuned!

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