Letter Of Protection Texas. In many cases hospitals or doctors will not accept the injured party’s medical insurance as a guarantee of payment for. What is the purpose of a closing protection letter?
What is the purpose of a closing protection letter? Whether you have been injured in a motor vehicle accident or by an 18 wheeler, a letter of protection stipulates that your attorney will pay the provider from the settlement received before awarding you any remaining balance. The letter can be mailed, emailed or faxed.) your name return address telephone number (business hours) date.
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Some people believe that because a letter of protection is a document between your attorney and your doctor, your attorney becomes liable to pay your bills. Said simply, the attorney guarantees that the accident doctor will get paid their fair share of any settlement funds. In a closing protection letter, your underwriter agrees to reimburse the addressee if your title agency is guilty of fraud or dishonesty in handling the closing money or documents, which courts have said covers more than just theft of the loan money, or if you fail to follow certain written closing instructions. That way, victims can arrange medical care they need in advance of obtaining payments from a court judgment.