Wednesday, October 24, 2007

Paying Medical Bills By Selling A Structured Settlement

Filed under: Structured Settlements — Structured Settlement Expert @ 3:58 pm

When a person receives a structured settlement it is as a result of a personal injury lawsuit – during which there is a financial arrangement so that the claimant in the case is provided with periodic payments rather than a sum of money at one time. These periodic payments can be distributed monthly, bi-annually, or annually. The payments come directly from an annuity that has been set up to fund the structured settlement.

In some cases, however, a structured settlement recipient may come upon financial circumstances that require a larger sum of money, such as significant medical bills. The structured settlement recipient can choose to sell either part or all of their future structured settlement payments. In return, the purchasing company gives the structured settlement recipient a lump sum of money for the sale; money that can then be used to pay off the medical bills.

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