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Road Accident Fund Claims Payouts – This article is part of the Business Insider South Africa archive published in partnership with Insider Inc. from 2018 to 2023.
Victims of road accidents are encouraged to bypass the services of a lawyer to file a claim with the Road Accident Fund (RTF).
Road Accident Fund Claims Payouts
The RAF’s #KeepItSimple campaign simplifies the claims process, breaking it down into “three easy steps that anyone can take on their own without the need for legal help,” according to the foundation.
Top 26 Questions About Road Accident Fund Claims
By settling the claim yourself, you will get all the payments and benefits, the fund said.
“One myth is that an intermediary facilitates a quick claim,” says Phumelela Dhlomo, RAF’s Chief Marketing Officer.
Documents required to file a claim with the RAF are: 1. Police report of the accident and/or case number.
2. Personal information about you and others involved in the accident.
The Road Accident Fund (raf): All You Need To Know
The claim must be submitted on a claim form (Form 1) containing basic information about the claimant, the vehicle involved in the collision, the parties, the date and place of the accident, and the amount claimed. It also contains the medical opinion of the attending physician.
Drivers of vehicles involved in collisions must provide details of the accident to the RAF on an accident report form. If general damages are sought, a serious injury assessment report must be submitted to the IAF to demonstrate that the injury is serious.
After completing the necessary forms and preparing the supporting documents, the documents must be submitted in hard copy. RAF will not accept documents submitted by email.
Dhlomo said the suit should be settled within a few months. According to him, it takes 3-5 years to do this through a lawyer who takes at least 25% of the fee.
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How Much To Expect: The Average Payout From A Car Accident Settlement
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If you are a relative of someone who has been injured in a road accident through no fault of your own, or who has died in an accident due to careless driving, the RAF pays you compensation. Photo: ISTOCK
If you’ve been injured in a motor vehicle accident and received compensation from the Road Accident Fund (RAF), you can get your money up front from new start-up RAFPay.
The Road Accident Fund (raf): What You Need To Make A Claim
If you are a relative of someone who has been injured in a road accident through no fault of your own, or died in an accident due to careless driving, the RAF pays you compensation.
In South Africa, there are about one million road accidents a year, 40 people die and 20 people become disabled every day.
These victims can request a personal injury attorney to represent their case against the RAF. There is also the option to represent yourself if you prefer.
While you are entitled to a lawyer to represent you, the RAF is using a team of lawyers to represent you in court. There is currently pending litigation to suspend the services of these lawyers so that the RAF can use in-house legal representation.
Road Accident Fund ( Raf )
The beleaguered fund has been insolvent since 1981 and reported unpaid claims of R17bn this year.
Acting CEO Collins Letsoalo told the media last month that the average time it takes to reach a settlement (determine how much to pay) after an accident is five years.
* An additional payment of Rs 11.2 billion in claims was finalized but could not be paid due to cash constraints.
“Only 5% of cases are settled before a judge – the vast majority of cases are settled at the doorstep,” he said.
Road Accident Fund
Once a settlement is reached, you will receive a court order outlining how much money you are entitled to from the fund. It can then take a year or two before you receive your payment from the RAF.
Elad Smadja, CEO of RAFPay, says that at this point, RAFPay can pay up to 50% up front within hours of your request, and the balance will be paid to you when RAF makes the full payment.
Smadja notes that RAFPay advances are not loans and do not carry interest, but there is a fixed fee of between five and 15% of your claim. RAFPay charges 2.5% per month.
“A typical example would be a claim of R500,000. The lawyer charges 25%, so you pay R375,000. The RAFPay fee is deducted from your R375,000, which is determined by how long you have. RAFPay will wait for the money after paying you the advance,” he explained. .
How To Claim From The Road Accident Fund Without A Lawyer — In 3 Steps
To use RAFPay, you must be using a solicitor to claim from RAF. This means that when the RAF is paid, the money goes into your solicitor’s trust account.
Your solicitor will refund the advance payment to RAFPay and the balance will be paid to you. Attorney and RAFPay fees are only deducted when final payment is received by RAF.
“The attorney is an independent party to return the RAFPay advance,” Smadja explained.
A minimum fee of 5% means that RAFPay will pay you up to 95% of the total amount.
Road Accident Fund (raf) Claims: What Injuries Count As
The minimum prepaid amount is generally Rs 150,000. Once you have received your RAF payment, you will settle the outstanding balance.
Smadja said many RAF claimants behave like lottery winners when they receive their payments, mismanaging and wasting their money.
“We provide financial advice and about 40 per cent of clients take us in. We usually find that if the payment is above Rs 1 lakh, we get financial advice.
“We work with Anchor Capital to help you create a financial plan where you can responsibly allocate or invest your bills,” he says.
How Much Does The Road Accident Fund Pay Out?
Smadja says that the company receives hundreds of calls every month from people who are in dire financial straits, and who, when they take out loans with very high interest rates, get very high interest rates. De Rebus → Practice Areas → Civil Litigation → Do Road Accident Fund Claims Need Urgent?
The Road Accident Fund (RTF) has often lamented its dire financial situation and blamed legal experts for it. One of the most alarming increases in RAF costs is the amount spent by the RAF on litigation. The following table, based on the RAF’s annual report, shows a staggering 120% increase from 2005 to 2017.
In the same period, the number of claims filed decreased by 40% from 185 773 to 92 101 (2017/2018 RAF Annual Report). During this period, attorney fee rates increased by 8% in 2015 and approximately 11% from November 1, 2017. According to the RAF, this extraordinary expense was a “drag out of the claims process” (Bongani Fuzile) by legal professionals. “RAF lawyers blamed for leech scheme”
22 September 2018). Except for some
Road Accident Fund (raf) Assistance
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