The Vastness of the Law

2 Reasons to Settle Your Lawsuit in Mediation

Do you have a lawsuit that you are looking to bring against an individual or a corporation? If so, you may assume that your case is going to go straight to court where the outcome will be decided by a judge. However, that is not how most lawsuits work. It is very common for lawsuits to be settled in mediation, where an agreement is reached by both parties to avoid going to court. This may leave you wondering if you should take the settlement or take your case to court. Here are some reasons why a settlement will be the best option. 

Going to Court Is Risky

One thing that you must realize is that there is a risk of going to court, which is true no matter how strong of a case you feel like you have. If you have a settlement being offered to you, then you know that is a sure thing if you were to accept it. However, a lawsuit going to court brings a lot of unknowns that you need to be made aware of. While it is possible that you could win in court and receive the full value of your case that you are asking for, it is also possible that you receive less money or you lose in court and receive nothing. If you are happy with the settlement offer you should take it, since going to court may not work in your favor.

Going to Court Is Expensive

The nature of going to court is going to cause your lawsuit costs to increase dramatically. Not only is there the time that you already spent in mediation, but additional costs involved for going to court. Your lawyer may charge a different rate for time in the courtroom, they may need more time to prepare for the court date, and there are additional legal fees involved that need to be paid to the court. Since there is not a guarantee that you'll win in court, you can't count on an increased court settlement assisting you to offset those costs. 

Even if your lawyer works on a contingency fee and only charges you if you win, you should realize that they will likely only not charge you for their time. For example, you'll still be responsible for those court fees and the lawyer's out-of-pocket expenses. These are all things you have to pay if you lose your case. 

To learn more about settling a lawsuit, contact a lawyer