When Does It Make Sense to Sell Your Structured Settlement?
Filed under: Structured Settlements — Structured Settlements Pro @ 9:24 am
A structured settlement is the financial award resolving a personal injury case that makes ongoing, periodic payments to the injured party to take care of their financial obligations over time.
Structured settlement plans are largely successful in accounting for all the future needs of a recipient but there are always a few exceptions. Life events can change ones financial position or needs requiring a larger amount of cash then their payments provide.
There are many reasons why a settlement recipient would want to sell their future payments including:
Debt/Bills: Pay off mounting credit card or medical bills piling up creating a large financial burden.
Education: Pay for a child’s college education.
Housing: Make a down payment on a home to receive affordable monthly payments.
Whatever the reason, it is possible to sell your future payments for cash. In addition, you have the flexibility of selling all of your future payments or just a portion. If you only sell some of your structured settlement payments you can receive a lump sum cash payment and still receive some of your future payments.
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