Asbestos Claims Payouts & Settlement Timeline
You can access asbestos claims payouts quickly through a legal settlement or trust fund claim. Experienced attorneys may be able to secure payouts for asbestos-caused lung cancer, mesothelioma (cancer that often develops in the lung lining), and asbestosis (a noncancerous lung disease) on your behalf. Learn about asbestos claims payouts and settlement timelines below.
How Long Will It Take to Settle an Asbestos Lung Cancer Lawsuit?
If you or a loved one has lung cancer or another illness that may have been caused by asbestos exposure, legal compensation could be available. If your lawyer believes a lawsuit can be filed, it will most likely end in a legal settlement (where those being sued will agree to pay you to avoid a trial).
The amount of time it takes to settle an asbestos lung cancer lawsuit varies with each case. Some lung cancer cases start awarding money in a few months while others take a year or more.
Your legal team, the basic facts of your case, and the strength of your evidence can all impact when your lawsuit reaches a settlement.
At Lung Cancer Group, we believe anyone with asbestos-related diseases should get financial aid as quickly as possible. That’s why we’ve partnered with lawyers that can help you get asbestos claims payouts quickly if you qualify.
Get a free case review now to see if our legal partners can help you reach an asbestos settlement.
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5 Steps to Receive Asbestos Lawsuit Payouts
The asbestos claims process in each case generally follows the steps outlined below. The length of each step can affect when you receive financial payouts.
1. Connect With a Lung Cancer Lawyer
The first step in getting an asbestos claims payout is to find an experienced lawyer.
Skilled lung cancer and asbestos attorneys can determine when, where, and how your asbestos exposure occurred factor in your medical expenses to see how much compensation you’re owed, and find out which companies could be responsible for your diagnosis.
Call (877) 446-5767 to get a free consultation and learn if you can work with a lung cancer lawyer.
2. File Your Claims
Once your asbestos attorneys have built your claim, they’ll file it against the makers of the asbestos products that made you sick.
Your lung cancer or mesothelioma law firm can pursue asbestos legal claims even if you smoked. Asbestos exposure worsens the damage that smoking does to the lungs.
3. Enter the Discovery Phase
After the lawsuit is filed, your attorneys and the attorneys for the asbestos companies will exchange information. This is known as the discovery phase of a lawsuit, and it allows each side to strengthen their claims.
Your lawyer will guide you through discovery and help you if the asbestos companies ask for any information from you.
4. Negotiate Settlements or Go to Trial
Once the discovery phase of a lawsuit has been completed, your attorneys will work to negotiate a payout on your behalf.
How and when you receive compensation depends on if your case settles or goes to trial. If it settles, your attorneys will work to quickly negotiate asbestos claims payouts on your behalf.
If a settlement isn’t reached, the case will go to trial, and a judge and/or jury will decide how much money you’ll receive (if any). Trials add more time to the asbestos claims payout process, and there is no guarantee you’ll get more money than if you settled.
In general, almost all asbestos lawsuits reach settlements. Doing so allows both sides to avoid the risks and expenses of a trial.
5. Receive Asbestos Claims Payouts
You will start to receive asbestos compensation once the claim has settled or reached a verdict in court.
Every lung cancer case is different, but a skilled legal team can fight to get the highest asbestos lawsuit payouts in the shortest amount of time.
Asbestos Claims Payout Timelines and Trust Funds
Another way to get compensation for asbestos lung cancer is by filing an asbestos trust fund claim.
Many companies established asbestos bankruptcy trusts to avoid lawsuits while still paying those who were harmed. You can’t sue a company with a bankruptcy trust. However, your attorneys can still pursue compensation on your behalf by filing asbestos trust fund claims.
Dozens of manufacturers of asbestos-containing products have set up trusts, according to Mealey’s® litigation reports. There is over $30 billion in asbestos trust funds today.
Trusts award asbestos claims payouts through:
- Expedited reviews: These allow the trust to pay you a fixed amount if you meet the basic criteria.
- Individual reviews: These could potentially award you with more compensation, but they take longer than expedited reviews.
You may be able to file a claim with multiple trusts depending on which asbestos products you were exposed to. Many claimants start to get compensation in 90 days or less. Asbestos lawyers can file claims with any and all trusts you qualify for.
The amount of money you receive from asbestos trusts varies. Many trusts operate using “payment percentages,” which allow them to pay a portion of a claim’s value so there’ll be enough money for future asbestos victims.
What Factors Affect Asbestos Claims Payouts and Settlement Timelines?
The lawyers you work with, when your case is filed, and many other factors all affect how long it may take to get an asbestos claims payout. View common factors below.
Legal Representation
Top asbestos lawyers have experience helping people like you file claims and secure compensation as quickly as possible. They’ll help you understand your legal options and guide you through the claims process.
It’s unwise to try and navigate the legal system on your own without a lawyer’s help, as it can be incredibly complicated and stressful and you may not get the results you want.
Asbestos Statutes of Limitations
Most states allow 2-3 years under their statutes of limitations to file an asbestos lawsuit. You need to file within this time frame or you will lose your ability to do so.
Trusts set their own deadlines to file a claim.
Get a free case review to see if we can help you promptly file an asbestos lawsuit or trust fund claim. Don’t miss your chance to pursue asbestos claims payouts.
- Access Financial Aid and Justice
- Learn About Your Options
- Contact Us for Free
Settlements vs. Trials
Settling an asbestos lawsuit is often faster — and easier — than resolving a lawsuit through a trial. These factors are why almost all asbestos lawsuit payouts are secured through settlements.
However, it’s important to know that skilled asbestos lawyers can prepare your case for a trial if one is needed.
Number of Asbestos Manufacturers Being Sued
It’s likely that you’ll qualify for compensation from several manufacturers of asbestos-containing products.
Your attorneys will strive to reach settlements with each manufacturer named in your lawsuit. As a result, you could get multiple payouts at different times, depending on how quickly each manufacturer agrees to resolve the case.
Notable Asbestos Claims Payouts
Legal claims for asbestos-related diseases can award significant financial compensation. While each case is different, many patients have received millions of dollars.
Notable asbestos settlements and verdicts secured by our legal partners include:
- $60 million to a laborer from New York with mesothelioma
- $40.1 million to a U.S. Navy veteran from Washington with mesothelioma
- $3 million to a Missouri woman with lung cancer
- $2.77 million to a pipefitter from Tennessee with lung cancer
- $2.53 million to a maintenance worker from Michigan with mesothelioma
- $1.6 million to a U.S. Navy veteran from Connecticut with mesothelioma
- $1.57 million to a plumber from California with lung cancer
- $1 million to a New York electrician with lung cancer
Asbestos lawyers can build a strong case to secure the highest amount of compensation possible in the shortest amount of time. You could start to get the first payouts from an asbestos settlement in 90 days or less.
Legal Help for Fast Asbestos Lung Cancer Claim Payouts
Victims of asbestos exposure deserve swift justice and financial relief. By taking legal action with the help of an experienced law firm, you and your loved ones can seek the asbestos claim payouts you deserve.
Lawyers at top asbestos law firms may be able to secure substantial settlement amounts in a timely manner. These lawyers have a deep understanding of asbestos litigation and will do everything they can to help your family if you’re eligible.
Settlement money from asbestos claims payouts can change you and your family’s life for the better.
The sooner you take action, the sooner you can start to receive compensation. Find out your eligibility with a free case review right now.
Asbestos Claims Payouts & Timelines FAQs
How much compensation for asbestos exposure?
The average compensation for an asbestos-related disease is over $1 million.
How much compensation you may receive depends on which asbestos-related disease you develop after being exposed, your expenses related to the diagnosis, and other factors.
What is the time limit for asbestos claims?
Most states set a time limit of 2-3 years to file an asbestos claim following a diagnosis of lung cancer, mesothelioma, or another asbestos-caused illness.
For some states, the time limit can be as short as 1 year or up to 6 years. These limits are outlined in each state’s statutes of limitations.
Get a free case review for help quickly filing an asbestos claim. Don’t miss your chance to secure a payout.
What is the average payout for asbestosis?
Asbestosis is a serious, noncancerous lung disease caused by asbestos exposure, and you could receive significant payouts if you were diagnosed.
Some asbestosis patients have received $1 million or more following their diagnosis. Your attorney can tell you how much you could receive.
What is the largest asbestos settlement?
The largest-ever asbestos claim payout was $250 million, which was secured for a mesothelioma patient who worked for U.S. Steel. He was exposed to asbestos throughout his 30-year career with the company.
How long does it take to settle a mesothelioma case?
Mesothelioma lawsuits can start to award settlement compensation in 90 days or less in some cases. That said, many factors influence when a settlement occurs. Some might occur during or even after a trial.
Top mesothelioma lawyers can give you an idea about when you may start to get money from settlements as your case moves forward. It’s important to file your claim soon after getting a diagnosis or you could miss your chance to receive mesothelioma compensation.
Can asbestos claims be filed after death?
Yes, in some cases. This is particularly true in mesothelioma cases, where family members, loved ones, or anyone who has legal authority over the deceased person’s estate may be able to file a claim.
It may also be possible to file wrongful death claims for other asbestos-related illnesses like lung cancer and asbestosis. A skilled lung cancer or mesothelioma attorney can help you figure out if you are eligible to file a wrongful death lawsuit.
When can I get lung cancer payouts from asbestos trust funds?
You can get lung cancer payouts from an asbestos trust fund claim once it has been processed. How long this will take depends on how your claim is reviewed.
You may get compensation at different times depending on the asbestos or mesothelioma trust funds you’ve filed with. You may qualify to file claims with dozens of trusts and some may pay out earlier than others.
