As a result of a personal injuries lawsuit, you may receive structured settlement payments. These periodic payments are a great source of income, but sometimes life happens and your financial needs change.

In those circumstances, you may be able to sell your structured settlement payments to get the cash you need now. But selling your structured settlement can be a complex process, so it`s important to know your options and make the right decision for you.

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What is a Structured Settlement?

A structured settlement is a series of tax-free payments issued to a plaintiff who has won a personal injury, wrongful death or worker`s compensation case. These annuities are flexible and can be designed to pay for medical treatment, retirement, basic living expenses or family needs.

Plaintiffs can rest assured that the payments will continue to be paid no matter what. This is important for plaintiffs who cannot afford to take care of their own financial needs but still need to be able pay for basic necessities.

Structured settlements are a great option for accident victims because they provide a steady stream of income. They also help make it easier to manage large amounts of money. The money is 100% tax-free for physical injury and wrongful death cases, while it`s tax-deferred for non-physical injuries.

How Do I Sell My Structured Settlement?

A structured settlement can be an option for those who need cash fast. It can help cover unexpected expenses or financial needs, such as paying off credit cards, making a major purchase, or putting money toward retirement.

It is important to research before you sell your structured settlement. A reputable company should offer a variety of sale options and a discount rate.

The company will calculate the amount of your structured settlement, and then offer you a lump-sum. This amount includes a discount rate and other fees. You`ll receive less money for your payments if the discount rate is higher.

What do I need to sell my Structured Settlement?

Structured settlements are a great way to receive cash over a longer period of time than a lump sum payout.

However, some people may find that the payments aren`t enough to cover their expenses or meet their future financial needs. Selling structured settlement payments may be an option in these situations.

Before deciding to sell your structured settlement, you should consider your reasons and discuss them with a lawyer. This will help you ensure that the sale of your structured settlement is in your best interest and will be approved by a judge.

How do I find a buyer for my Structured Settlement?

Structured settlements can be a great way for long-term financial security following personal injury lawsuits. They also provide tax-free payments on a monthly basis.

Some people might find their structured settlement doesn`t cover an immediate financial need or investment opportunity. This is where selling the future periodic payments for a lump sum may be an option.

Companies that purchase structured settlements, known as factoring companies, can provide you with the cash you need in exchange for your remaining structured settlement payments. They typically offer a price less than the total value of your payments, which is called a discount rate.

What happens after I sell my Structured Settlement?

After you sell your Structured Settlement, it can be difficult to know where to start. There are some steps you can take to ensure your transaction is legal.

First, find a buyer willing to purchase your structured settlement payments. Choose a company that is reliable and offers the lowest price for your payments.

Once you have a buyer, the next step is to get court approval for your sale. This is required by law, and it must be done to protect your rights.