Are you looking forward to joining the Transamerica lawsuit? Well, you have reached the right place, wherein I would give you a brief idea about the same. So, just take a look ahead and learn more.
The Transamerica lawsuit is a case that has made waves since a few years back. A certain company, named Wilson Peacock, washes feet at a very high rate of speed, which leads to a lot of injuries and even death due to such reckless attitude. To add to all this, his business does not have any insurance cover, leaving it completely defenseless as a result.
Therefore, the man who washes feet, named Ray T. McDonald, approached a certain law firm, which handles Transamerica cases on behalf of every individual who has been injured due to carelessness of another party.
Ray T. McDonald lost his battle to get recompense on all his injuries and also the case that was filed against him was thrown out due to lack of evidence. This left him under heavy financial stress. He had to arrange for his medical treatment, which cost him a pretty penny. His family had to bear the expenses as well.
In order to get his justice, the lawyers who handled the case Transamerica needed to find witnesses to corroborate his version of the accident.
However, with no one to corroborate his statement, the case was thrown out. The lawyer was not paid in any way and had to file a case of embezzlement with the help of an anonymous friend. He was arrested along with the friend and was taken to jail. He was charged with embezzlement and later found guilty, though he had denied all charges.
In fact, the lawyers who handled the case did not get a single dollar in compensation.
Even their legal fees were not paid after the case was dismissed. This is the reason why so many people are eager to join Transamerica lawsuit in the first place. If you win, you will get a significant amount of money, though not thousands of dollars. The compensation you will receive depends on various factors such as how much you suffered, the extent of your injuries, the extent of your medical bills, etc. Some cases have resulted in over a million dollar settlements.
You can receive a Transamerica settlement in three ways, the direct payment method, where you pay the lawyer directly after winning your case, the structured settlement method, in which you make a regular payment, and the no-win no-fee method, wherein the fee you pay is a one-time payment that is exempt from taxes. The payment you make should be made to the lawyer as soon as possible, or else, you will have a lapse in receiving the money.
All the payment should be made before the case is finalized. Once the case has been finalized and the settlement is issued, Transamerica will transfer the payment you make to their bank account. It is important to make the payments in time to avoid a lapsing of your privileges to receive a Transamerica lawsuit settlement.