Help Repair Credit Damage With The Sale Of A Structured Settlement
Filed under: Structured Settlements — Structured Settlement Expert @ 4:11 pm
As a result of a personal injury case, oftentimes a financial arrangement is made known as a structured settlement. Rather than a large sum payout, the recipient of a structured settlement arrangement receives periodic payments from an annuity that is set up and funded exclusively for the structured settlement.
In some cases, these periodic payments meet the ongoing financial needs of the recipient. But in many cases, a recipient may have a desire to sell their structured settlements to have cash in hand for some very particular needs. Such may be the case for those who are struggling with significant debt – debt that has perhaps negatively impacted their credit score.
In such a case, a structured settlement recipient may choose to seek a company experienced in purchasing structured settlements. Such a company will pay the seller one lump sum of money; in exchange, the company will be assigned to continue to receive the structured settlement payments.
If such a sale is approved by the courts, the client can then take their lump sum of money and pay down or off their debts, thus that may improve their credit score.
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