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Settlement payments can be made in a number of different ways: lump sum payments, installments, or even in loose change. You may have seen the story this week of Andres Carrasco, 76, who was less than pleased to receive a $21,000 settlement -- all in coins -- from an insurance company he'd sued for assault.

Banks may also hold large sums for several days to ensure the deposit is lawful. In most cases, compensation from settlements is received within six weeks after negotiations complete.

How Is a Settlement Paid Out?A structured settlement can be paid out as a single lump sum or through a series of payments. Structured settlement contracts specify start and end dates, payment frequency, distribution amounts and death benefits.

Although the time required for a settlement negotiation process to be finalized can vary considerably from case-to-case, once a settlement is reached a victim can generally expect to receive a settlement check in approximately six weeks.

Settlement checks are typically mailed within one month after you submit the release form to the insurance company.

Here's how to know what to do with your injury settlement money.Understand and Address the Tax Implications. Your personal injury settlement may be tax-free.Take a Deep Breath and Wait.Create a Plan.Take Care of Your Financial Musts.Consider Income-Producing Assets.Pay Off Debts.Life Insurance.Education.More items...

The average amount of time to receive a settlement check after a release is signed is about five to six weeks. However, several factors can delay this process from the specific process at your insurance company to debts and payments that may hold up your payment.