subject: About Structured Settlements And How To Sell Structured Settlement Income For Lump Sums [print this page] Structured settlements are financial arrangements in which a claimant agrees to receive periodic payments to resolve a personal injury tort claim. Structured settlement payments are more advantageous to lump sum payments as IRS rulings allow federal income tax to be waived. Structured settlements are part of the statutory tort law in countries such as Australia, Canada, England, and the United States.
Defendants who are required to make structured settlement payments typically purchase an annuity from a life insurance company or assign a third party qualified funding asset to make the assigned structured settlement payments. These measures insure that the claimants receive their structured settlement payments without interruption, as required by law.
People who receive structured settlement payments have the opportunity to sell structured settlement income for lump sums of cash. If you wish to sell structured settlement income, there are various legal financing companies who will pay part or all of your structured settlement (or other fixed annuity or lottery payments) in exchange for a lump sum.
Structured settlements allow you to receive the cash up front, though at lesser value than long term payments. Structured settlements give you the freedom to access your money immediately versus having it broken into small amounts.
Those who seek to sell structured settlement income for a lump sum payment may need immediate financing to purchase a home or to cover college expenses, medical expenses, and personal debts. Others may want to sell structured settlement income to start or invest in a business. Whatever the reason, there are things you should consider when selling structured settlement payments.
Legal financing companies should tailor structured settlements to individual needs. To sell structured settlement income, look for legal financing companies that provide free, no-obligation quotes so you can compare offers.
These companies should also be willing to do all the paperwork on the structured settlement payments so that the process is easy and convenient. You should also confirm how quickly you will receive funds from your structured settlements. Also check on the companys experience in purchasing structured settlement payments before you sell structured settlement income.
There are many good reasons to retain the value of your structured settlement over the long term. But for those who want access to the cash they deserve, to sell structured settlement income is a very viable option.
