Structured Settlement Sales Can Benefit Families
Filed under: Structured Settlements — Structured Settlement Expert @ 9:53 pm
Structured settlements are financial arrangements following a personal injury case. When a claimant selects a structured settlement arrangement they will receive a series of ongoing payments. The terms of the payments are meant to provide for payments to the claimant over time.
As often happens in families, there are financial circumstances that present themselves that can seriously impact the future of a household; circumstances such as significant debt and medical bills. When these types of circumstances present themselves, a structured settlement recipient may choose to sell their future structured settlement payments in exchange for a lump sum of money to address their current financial needs.
When a recipient sells structured settlement payments they do so through a company that specializes in this particular transaction. The sale must be approved by the courts, after which the purchasing company gives the structured settlement recipient a lump sum of money based on the current market value of their settlement arrangement. In exchange, the recipient turns over the ownership to all or part of their future structured settlement payments.
With the money they receive, structured settlement recipients are then able to address their financial needs and solidify their family’s future.
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