When most people think about settlements, they think about getting a
big, fat check in the mail. They think about settling a case and getting
paid the next day. After all, this is why people settle matters, right?
Most people settle matters so that they can get cash in a hurry, but
many settlements come in a structured way. Structured settlement payments
are becoming more and more common and this provides some difficulty for
many victims. Luckily for these people, there are options for getting
the money a bit more quickly. You could opt for a lump sum payment for
your structured settlement in lieu of structured settlement payments.
What are structured settlement payments all about?
Understand that structured settlement payments can come in many forms. Some might pay out the settlement over the course of a few years, utilizing payments every few months. Some might be longer and could be structured as an annuity. Under this type of set-up, the payments would come once every year after being delayed for some time. This does not work for many people who have cash needs right now. For people in that position, the goal is getting their hands on money so that they can pay off their bills right away.
What are the alternatives to structured settlement payments?
If you find yourself in the position where you are to receive a structured settlement payment, then you have a couple of options. The smart play is to may be to choose a company to cash out your structured settlement payments. A good company will offer you a lump sum right now. You give up the rights to the settlement payments and they cut you a check right away. This offers the obvious plus of giving you cash right now. It gives you the peace of mind to know that you are going to get something out of the settlement. There is a trade off that must be considered, but it is worth the cost in many instances.
When you sell your structured settlement payments for a lump sum, you will have to pay something. The lump sum will be less than what the company will receive in payments. Though you are giving up some value, you can often make up that value by investing the lump sum well. Likewise, this is a good thing for people who are facing hospital bills or other bills right now. When that is the case, you simply do not have the time to lose. You have to take care of things right away, so having a structured settlement truly does you no good. If you happen to find yourself in this situation, then consider a company that is willing to buy your settlement rights.
What are structured settlement payments all about?
Understand that structured settlement payments can come in many forms. Some might pay out the settlement over the course of a few years, utilizing payments every few months. Some might be longer and could be structured as an annuity. Under this type of set-up, the payments would come once every year after being delayed for some time. This does not work for many people who have cash needs right now. For people in that position, the goal is getting their hands on money so that they can pay off their bills right away.
What are the alternatives to structured settlement payments?
If you find yourself in the position where you are to receive a structured settlement payment, then you have a couple of options. The smart play is to may be to choose a company to cash out your structured settlement payments. A good company will offer you a lump sum right now. You give up the rights to the settlement payments and they cut you a check right away. This offers the obvious plus of giving you cash right now. It gives you the peace of mind to know that you are going to get something out of the settlement. There is a trade off that must be considered, but it is worth the cost in many instances.
When you sell your structured settlement payments for a lump sum, you will have to pay something. The lump sum will be less than what the company will receive in payments. Though you are giving up some value, you can often make up that value by investing the lump sum well. Likewise, this is a good thing for people who are facing hospital bills or other bills right now. When that is the case, you simply do not have the time to lose. You have to take care of things right away, so having a structured settlement truly does you no good. If you happen to find yourself in this situation, then consider a company that is willing to buy your settlement rights.