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If you've ever found yourself the victim of an accident, you know that it can take a while to get your feet back on the ground. The financial part of it can be even worse. You may win a protracted legal battle and get some compensation for your troubles but even that could get tied up in the system. You win a settlement and have medical bills that need to be paid but you're struggling to even get access to the money.
If you're holding a structured settlement that consists of a stream of periodic smaller payments and are seeking a lump sum up front to help pay for things like current medical expenses there are companies out there that will purchase your structured settlement and turn that series of payments into an upfront lump sum payment for you.
Before deciding whether or not selling your structured settlement for a lump sum makes sense, you have to keep in mind that in most cases the transaction makes sense only for the company who's buying the settlement. Firms that buy settlements typically offer about half of the value of the settlement in exchange for the ongoing payment stream. Even considering the transaction over time, the company comes out ahead because they're taking in much more than they're paying out in a lump sum. And it's essentially risk-free for the company as the settlement is backed by a court order.
If you're considering selling your structured settlement for cash, there are a few things you should know first.
First, you should always shop around. Big companies like J.G. Wentworth can be a good starting point but you should try to research and get quotes from at least three different companies. The offers you'll see can vary significantly so make sure you judge each on its total merit.
Second, you'll want to consult with a tax advisor or attorney. You may find that the lump sum payment you receive could be taxable leaving you coming out even further behind so a consultation with a qualified tax specialist would be advisable.
Third, make sure that you have no other options. Individuals selling their settlements often give up a large amount of their agreement in order to receive the lump sum payment up front.
Selling a structured settlement can work out for a select group of people but you should proceed with great caution. You should do your research and make sure you understand all pros and cons involved before proceeding with this type of transaction.
What else can I help you with?
can you sell your structured settlement in the state of NC?
According to Structured Settlement Protection Act, you have right to sell
What exactly is a sell structured insurance settlement?
Keyword: sell structured insurance settlementJ&RQuestion: What exactly is a sell structured insurance settlement? What a sell structured insurance settlement means is that instead of getting a lump sum payment, you will receive as a claimant in the case of personal injury, a financial agreement or settlement.
Where can I learn more about cash for structured settlements?
You can learn more about cash for structured settlements at at www.jgwentworth/Structured-Settlement/Sell-Structured-Settlement.aspx. They explain what a structured settlement is, and how to sell all or some of your monthly payments.
How does one sell a structured settlement?
You can sell a structured settlement to J.G. Wentworth. They are one of the worlds largest buyers of structured settlement payments and annuities. They have also handled more than $2 billion in payment transfers.
Where can someone sell their structured settlement?
A structured settlement is a court order sum that is considered to be a reimbursement for some type of negligence that has been caused by a company or person. One can sell this settlement in order to expedite the process of getting money, and can be done with companies such as My Structured Settlement Cash or Liberty Settlement Funding.
How would one go about selling structured settlement for cash?
There are a few things someone would have to do to sell their structured settlement for cash. First, a person would have to fill out an application and determine how much of their settlement they wish to sell.
How do you get money out of a structured settlement?
The first step to getting money for your structured settlement is determining if you want to sell partial payments or sell your whole structured settlement for a lump sum. Next you apply with a funding company that specializes in structured settlement buyouts to receive a quote.
To which companies can one sell their structured settlement payments?
There are many companies that can sell their structured settlement payments. You can find some by looking online as well as locating these companies in your yellow pages phone book, or in your local newspaper.
Why would someone want to sell a structured settlement payment?
An individual might want to sell a structured settlement payment in order to get a lump sum payment of those funds upfront instead of being paid out in installment payments.
Can you sell structured insurance settlement plans to someone?
Structured insurance settlements can be sold to another person as long as they sign a contract thereby giving the settlement to them. This can be a tricky process, however.
Can you sell structured settlements?
Yes, you can sell your structured settlement. However, I would go to an expert who knows the best way to sell it, so you get the most bag for your buck. Also, there is a lesser chance for them to mess it up.
Can I sell my structured settlement at a fair price?
You can sell your settlement for a fair price, however you will need to have a lawyer to make sure all of the legal terms are taken care of. You may have to pay a penalty in order to make the settlement.
