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My Journey on Passive Income that 99% Population Don’t Hear About 7 – Do They Know Each Other?
Continuing from my last post, on the last day of settlement negation, the insurance company (ICBC）’s lawyer said: “I’ve reviewed all the reports from all these years, and time has proven that your injury isn’t as severe as you believe. There’s no nerve damage. It’s not the big case you thought, with a settlement amount of xxx dollars. It’s just a typical case in the range of xxx-xxx. We cannot agree to your settlement range. We will go back and regroup, then communicate with your lawyer about the next steps.”
I looked at my lawyer, who remained calm, and he said, “Okay,” and then there was a handshake, and the meeting was over. Is that it? I felt bewildered. Only after everyone had left, my lawyer said to me, “This is all part of the dance. They will make their offer soon, you just wait.”
Sure enough, not long after, my lawyer informed me that they had made an offer. The final amount was indeed not what we wanted, but it also wasn’t the value of a so-called “normal range” for a small case. I was contemplating whether to push for more when my lawyer chuckled. He said, “The current situation is that this offer is quite good. If you reject it, the next step is going to trial, and in this situation, you’ll surely lose because the jury won’t sympathize with a plaintiff who received an offer at this level. So, I understand your feelings, but you need to consider the risks and rewards. Meanwhile, I’ll further reduce my cut from the settlement so you get a bit more. Think it over.”
After understanding the risks of going to trial, it took me 2 seconds to accept the offer lol This time, I settled the case along with my mom, and I received the settlement amount after my lawyer took his cut. The lawyer made a decent profit in my case for sure. It was a win-win situation. Having gone through the entire process from a plaintiff perspective, little did I know that this would mark the beginning of my journey on passive income. I will continue my story next time, please stay tuned!