Petition for Lump Sum Payment - New Mexico 2025

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  1. Click ‘Get Form’ to open the Petition for Lump Sum Payment in the editor.
  2. Begin by filling in your personal information, including your full name, mailing address, and contact details. Ensure accuracy as this information is crucial for processing your petition.
  3. Indicate whether the lump sum requested is by agreement for pre-1991 injuries. For post-1991 injuries, select the appropriate options regarding your return to work and any accumulated debts.
  4. Provide detailed information about the accident, including the date, location, job title at the time of injury, and a description of how the accident occurred.
  5. Complete sections regarding medical treatment and current employment status. Include details such as impairment ratings and whether you have been released to work.
  6. Finally, verify all information provided is correct before signing. Use our platform’s signature feature to sign electronically for convenience.

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A lump sum settlement is a way to close a workers compensation claim whereby the employer or Bureau of Workers Compensation (BWC) pays the injured worker one larger sum of money rather than ongoing payments every other week.
A lump sum settlement is a one-time payment that you receive for your workers compensation claim. This payment covers the full value of your claim, which could include compensation for medical bills, lost wages, and even any future costs related to the injury.
A payment of a sum of money at one time, such as an inheritance. Lump sum payments can also be referred to as lump sum payouts or financial windfalls. A lump sum payment can come in the form of a bonus from your job, an insurance claim or settlement, a tax refund, an inheritance, or even winning the lottery.
Every lump sum settlement proposal must be submitted for approval through the Department of Industrial Accidents. An administrator, usually a judge, must agree that a settlement is in the injured workers best interests.