Selling A Partial Structured Settlement
Filed under: Structured Settlements — Structured Settlement Expert @ 5:40 pm
A structured settlement is a financial arrangement that results from a personal injury case being settled out of court. In such a circumstance those who have been given a financial award are given a structured settlement rather than a lump sum payout. A structured settlement allows for periodic payments to be sent directly to the recipient – paid from an annuity that is funded to meet the guidelines of the structured settlement.
The recipient uses the structured settlement payments to meet their financial needs going forward. But in some cases, due to financial circumstances, they may find that they need a lump sum payment rather than their ongoing payments.
The sale of structured settlement payments must be approved by the courts. Upon approval the recipient will receive cash from a purchasing company that will buy their future structured settlement payments in exchange for a lump sum of money.
But while the outright purchase of all future payments can be done, there is also the option for the recipient to sell only part of their structured settlement payments. They can either sell only a limited number of future payments, or they can sell a percentage of the payments throughout the rest of the settlement.
Popularity: 21% [?]