Get a total sum of cash for a structured settlement

Overview of structured lump sum settlement

You may have been injured and a lawsuit was awarded in your favor. One scenario is as follows. For the next 30 years, you could receive regular monthly payments that increase by 3% each year, this is called a structured settlement from a lawsuit or personal injury settlement. If you say $ 700 a month for the next 30 years or 360 months, this comes to $ 252,000.00, there are other options for this solution. These $ 700 a month payments seemed good at first, but now you need more money, much more. You can get more money from your settlement Read more to see how. You may have received the first 5 years of 30 and now you are wondering if there are ways to sell or get more cash from your settlement. Some problems with this are that you cannot borrow against it or use it as collateral. What is allowed is an opportunity outlined in the law to sell some or all of your future payments in exchange for a lump sum. A court decision must be obtained to allow a lump sum for structured settlements.

Get a total sum of cash for a structured settlement.

Due to rising costs and a need for cash, the wish may be a lump sum. Structured settlements have advantages and disadvantages when thinking about holding them or holding them. Fixed amounts of cash approved by a court decision can be used for many of the following:

  • Payout on a new home
  • Get out of debt as you drown
  • Pay credit card bills
  • Pay medical bills and services
  • Buy a new device or equipment to help your disability
  • Pay up-to-date business expenses or finance a business
  • Educational tuition and school bills
  • New car or payout of a car
  • Home improvements that are badly needed, such as a new roof

The final decision will ultimately be the judge looking at your request. Most requests are approved, but not all cash transfers are guaranteed. There are some items in the settlement that may not allow the sale of future payments, which may be a non-transferable clause, an age to sell clause or some other limitation. In any case, when you need a lump sum from your structured settlement, there are ways to do this and it is fairly common now to get cash from your future payments. Find a present value calculator online and see what your future payments are worth today. This will help you get an estimate of what the future payments are worth. The settlement finance companies have their own risk rates for present value.

Use the calculator to see what the ballpark amount would be. When researching to find a good buyer, one way to choose is to contact the National Better Business Agency by phone or their website to see if they have a low amount of complaints. Now you are ready to get a lump sum of cash for your structured settlement. Get started now.