Sell Structured Settlements
Selling a structured settlement allows you to receive the remaining amount of settlement disbursements in a lump sum payment. The advantage to selling a structured settlement agreement is you receive a large amount of money at one time. The disadvantage is receiving a smaller portion than the originally agreement upon amount since the buyer pays less than the combined sum of the overall amount.
A structured settlement is an agreed upon amount determined by both parties after settling a judgment. Instead of a lump sum payment, the claimant establishes a structured payment schedule to receive the settled amount. The payee sets up an annuity account to hold those funds and distribute payments.
If you sell your structured settlement most purchasers allow you to sell a portion of your settlement payments and leave an option open to sell the remaining portion at a later date. This option is beneficial for emergency situations when you need cash immediately. This can include but are not limited to:
- Medical expenses
- Debt elimination
- Education costs
- New home or automobile purchases
- New business opportunities
- That dream vacation you've been putting off
To sell your structured settlement you first appraise how much your settlement will be worth in the future. Then, a structured settlement company will buy those payments discount it by some factor and pay you a lump sum figure. Most settlement buyers will give you a free quote so that you can make a conscious decision before sell out.
Your situation is evaluated by the settlement purchasing company to meet your specific needs. Then it can be determined whether to sell a few months, a few years, or partial month amounts of your settlement.
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