You probably receive structured settlement payments as a result of a personal injury lawsuit. These periodic payments are a great source of income, but sometimes life happens and your financial needs change.

You may be able sell your structured settlement payments in these circumstances to obtain the cash you require now. Selling your structured settlement is a complicated process. It`s important that you understand your options so you can make the best decision.

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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.

Because they offer a steady stream income, structured settlements can be a great option. Structured settlements make it much easier to manage large sums of money. For cases involving physical injury or wrongful death, the money is exempt from all taxes. However, it`s not tax-deferred for other types of injuries.

How Do I Sell My Structured Settlement?

A structured settlement can be an option for those who need cash fast. This can be used to cover unexpected expenses and financial needs such as paying off your credit cards or making major purchases or saving for retirement.

If you decide to sell your structured settlement, it`s important to do research. 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 lump sum includes a discount rate as well as other fees. The higher the discount rate, the less money you`ll get for your payments.

What do I need to sell my Structured Settlement?

Structured settlements offer cash payments that last longer than a lump sum.

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.

You should carefully consider your reasons for selling your structured settlement before you make a decision to do so. 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 are a great way to achieve long-term financial security after personal injury lawsuits. They also provide tax-free payments on a monthly basis.

However, some people may find that their structured settlement isn`t enough to cover an urgent financial need or investment opportunity. Selling future periodic payments in order to receive a lump sum could 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. The discount rate is a rate that reduces the value of your payments.

What happens after I sell my Structured Settlement?

After you sell your Structured Settlement, it can be difficult to know where to start. However, there are some basic steps you should take to make sure your transaction is legal and in your best interest.

The first step is to find a buyer who is willing to buy your structured settlement payments. You should choose a company that offers the best price for your payments and is trustworthy.

After you have found a buyer, the next step in selling your property is getting court approval. This is required by law and must be done for your protection.