Selling your structured settlement provides you with money today for money that’s forthcoming to you in the future through your structured settlement. Essentially when you sell some or all of your structured settlement, it enables you to receive the funds you require right away.
A structured settlement is a payment made to an injured person on a regular basis, either monthly or yearly, over a period of years rather than a one-time payment when a lawsuit gets settled. Settlements like this usually result from wrongful death, personal injury, or medical malpractice claims. The drawback of a structured settlement or annuity is that you are locked into it in terms of the schedule – you cannot alter the payment structure in any way once you agree to it. While a structured settlement may work in the short-term, it does not take into consideration that you life probably changes over time, as do your financial needs.
Receiving an immediate lump sum payment of cash for your some or all of your settlement or annuity may be an option to consider. For example you may need money now to buy a house, pay off credit card debit, purchase a car, save your house from foreclosure, pay college tuition, take advantage of an investment opportunity, start a business or pay unforeseen medical expenses. Companies that purchase settlements can help you in this circumstance by providing immediate cash for dealing.
When you are ready to arrange for a lump sum payment of immediate cash for some or all of your settlement, it is very helpful if you have at your fingertips all of the documents concerning your structured settlement. Remember that if you take a one-time payment you no longer hold the legal rights to your settlement but the benefits of getting that lump sum for your immediate needs may very well outweigh waiting for years or even decades to get your annuity payments
When looking to sell your settlement, make sure that the staff has experience and knowledge in this area. It could make all the difference in how much money you get and how fast you get that money. It’s critical to note that structured settlement transactions don’t require your credit history or information about your income – the only qualification is the structured settlement itself. The company you chose to get your immediate lump sum payment of cash from should have the necessary resources to help you determine the best plan to fit your financial needs – be it selling all or part of your settlement. You should never be pressured into selling more of the structured settlement than you need to sell in order to raise the money for your current need. An experienced, knowledgeable company should be able to set something up that gives you the peace of mind you are looking for.
The process of getting the lump sum payment for your settlement requires a special court order to protect you. A company with experience in this area will have deep knowledge of the process and can easily handle the entire transaction for you, in the shortest possible time.
Once you have your cash, you can use it to pay bills, buy a house, or use it to invest.