Turnaround Time for the Sale of Structured Settlements
Filed under: Structured Settlements — Structured Settlement Expert @ 8:57 pm
When a claimant enters into the process of a personal injury case, there can obviously be many outcomes. But in the event that there is a financial settlement, oftentimes their financial award is not given to them all at once. Instead, many claimants are given a structured settlement, whereby they receive their money through periodic payments. The payments come from an annuity that is set up exclusively for the structured settlement; and those responsible for the financial restitution are responsible for funding the annuity.
Generally speaking, structured settlement arrangements work well for all parties involved. But there are some cases in which the recipients of structured settlements are in need of a lump sum of money to address particular financial circumstances, ranging from significant debt to education expenses. In such cases, structured settlement recipients may seek approval to sell all or part of their future structured settlement payments.
Structured settlement sales differ from state to state. Be sure to ask the question regarding timeframe when researching the sale of your structured settlement.
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