What Happens If I Sell My Structured Settlement?
Structured settlements are a great option for plaintiffs to get compensation in their cases, while also providing them with peace of mind and security over time.
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It is possible that structured settlement recipients will need immediate cash. They can then contact a buyer that specializes in purchasing structured settlements, and provides lump-sum payouts.
How It Works
When winning a lawsuit, defendants often agree to offer structured settlement payments instead of lump sum payouts in order to avoid having to go to trial.
You can protect yourself from people who want to steal your money by receiving your money via a structured settlement. This will help you resist pressures to borrow or invest your money.
Structured settlements can be tailored to meet your exacting requirements, whether that means covering future medical costs or helping provide for your family.
Structured settlements can be advantageous to some, but not all. Before considering this form of agreement as an option for yourself it`s wise to consult with an attorney regarding its suitability for you.
Getting Started
You may be like many Americans who have needed extra money to cover expenses, such as inflation or high rent. Selling your structured settlement could provide the means necessary to repay debts quickly and start building a more secure future for you and your family.
Structured settlements offer security and flexibility with their tax-free payments that can be tailored to suit your specific needs and goals. Plus, unlike a lump sum payout, structured settlement payments are guaranteed for an established time period.
Congress realized the importance of providing injured victims with a stable income source, and tax-free earnings from structured settlements were made available. This allowed you to increase your income significantly while reducing your tax liability each year.
Payment Schedules
Structured settlements are a smart financial choice for those who want to receive payments in installments, and need stability to manage their finances and pay bills.
Structured settlements typically feature a payment schedule that allows claimants to select monthly, quarterly, or annual installments as desired by them. Some settlements offer lump sum periodic payments that can be used to pay for medical expenses.
Structured settlements offer an effective way of getting the money needed for quality medical care without getting into financial difficulty, or covering lost wages.
You can also sell your structured settlement payments to raise cash for different needs. It is important that you carefully consider all options before signing any agreement.
You must schedule a court date with the judge if you want to sell all or part of your payments. This is to ensure that your sale will be conducted according to state law, and in your best interests.
Contact Us
Structured settlements offer personal injury victims, wrongful death survivors, and their families a more predictable source of income. Structured settlements can be tailored to cover immediate medical expenses, out-of-pocket expenses, attorney fees, potential needs such as long-term care needs or future outlays such as mortgage payments or educational support costs while still accommodating future outlays like long-term care, mortgage payments or retirement savings goals.
When a plaintiff has a strong case and their defendant agrees to provide compensation as part of a structured settlement, the benefits can be substantial. The payouts offer more security to the plaintiff and more options in how they distribute their money, including tax-free periodic payment or an annuity.
If a payee needs more money than their structured settlement payments will cover, they can contact a company who buys structured settlements. They can then receive a lump-sum payout.
