Mark Casto | October 18, 2023 | Firm News
There are instances in personal injury cases when pre-judgment interest is a possibility in the final recovery of the case. Pre-judgment interest is possible in Georgia when personal injury attorney strictly follows the procedures set forth in the statute. Specifically, the code section is: O.C.G.A. § 51-12-14.
As your personal injury attorneys, we follow the code section and give proper and effective written notice, by registered mail, certified mail or statutory overnight delivery to the at-fault person against whom the claim is being made.
Our standard practice is also to state a specific settlement amount of unliquidated damages as is required on the demand notice. If the at-fault party or their insurance carrier fails to pay the demanded amount within thirty (30) days from the mailing or delivering of the notice, the claimant shall be entitled to receive interest on the amount demanded.
The caveat is that this only can be enforce if, and only if, the case proceeds to trial and the judgment rendered is for an amount equal to or greater than the amount demanded. See O.C.G.A. § 51-12-14 (a).
As your personal injury attorney our standard is to properly comply with the statute and we’ve had great success at trial and regularly receive judgments equal or greater than the demanded amount. When this occurs, evidence of the statutorily complaint demand is submitted to the judge, who would incorporates the pre-judgment interest amount by adding t to the verdict amount for a Final Judgment Award for the claimant to collect from the at-fault party or their insurance company.
The code section currently calls for the pre-judgment interest to be calculated at three percent more than the prime rate reported by the Board of Governors on statistical release H.15. O.C.G.A. § 51-12- 14(c).
This is a powerful tool that we use at Mark Casto Personal Injury Law Firm to place as much pressure on the insurance company as possible to fairly settle the case without the need for trial, however, when they are unfair and unreasonable forcing us to trial, this h but also t s a powerful tool to collect and recover the most possible for our injured clients.
Contact a Columbus Personal Injury Lawyer at Mark Casto Personal Injury Law Firm Today For More Help
If you were injured in an accident in Columbus, GA, and need legal help, contact our Columbus Personal Injury accident lawyers at Mark Casto Personal Injury Law Firm to schedule a free case review today.
We serve in Muscogee County and its surrounding areas: