Having Access To Your Money Now With A Structured Settlement
Filed under: Structured Settlements — Structured Settlement Expert @ 5:23 pm
With a structured settlement, a claimant receives a financial arrangement with payments spread out over a pre-determined amount of time. Rather than receiving a lump sum payment, an annuity is purchased to fund the settlement. The person who receives the structured settlement is then paid through the annuity according to the terms laid out by the settlement. Different payment terms apply to different settlements
At some time, a person who receives structured settlement payments may find that their financial circumstances have changed causing a need to have access to their money rather than continuing to receive payments through an annuity. Many reasons could change ones circumstances including mounting medical bills or the need to purchase a car. Regardless of the cause, a person who is receiving structured settlement payments may opt to sell their annuity payments and receive a lump sum payment instead. Claimants in this situation can choose to work with a company that buys structured settlements. They will purchase all or part of structured settlement payments. In return, the claimant will receive a lump sum payment. The settlement purchaser will then become the recipient of the ongoing purchased annuity payments and the client will have cash to tackle their financial needs.
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