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The downside of accepting cash at the accident scene

| May 10, 2021 | Blog, Car Accidents |

If you’re hurt in an auto accident in New Jersey, you may be entitled to compensation for current and future medical bills. It may also be possible to seek reimbursement for the cost of repairing your car, purchasing a new vehicle or replacing property that was damaged in the accident. It is generally not in your best interest to accept cash from the person who caused it because you might lose your right to pursue further compensation.

You don’t know how much it will cost to repair your car

Until your vehicle can be examined by a mechanic, you have no way of accurately estimating the amount it will cost to repair your vehicle. It’s not uncommon for hidden damage to be discovered during an inspection, and that damage could cost thousands of dollars to fix.

You can’t immediately know the extent of your injuries

It can take hours, days or weeks for symptoms of internal bleeding, a concussion or whiplash to present themselves. Therefore, you won’t know how badly you were hurt in the immediate aftermath of the crash. Ultimately, accepting cash at the scene of the accident could leave you woefully unprepared to pay for current and future medical bills.

Taking cash could be construed as accepting a settlement

If you take a cash payment from the driver who caused your car accident, it may hinder your ability to seek future compensation. This is because that person may claim that matter has already been settled and that you’re entitled to nothing more from that individual. While there is nothing wrong with accepting a settlement, it is generally in your best interest to seek legal counsel before doing so.

An attorney may be able to help you obtain all of the compensation you are entitled to in a personal injury case. He or she may use witness statements, medical records and other evidence to establish that your injuries were the result of a crash caused by a reckless individual.

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