Many people are awarded structured settlements in personal injury, worker's compensation, liability, harassment and malpractice cases. The payments in these awards are made in installments that can last months, years or even a lifetime.
However, you may need the money from that settlement now to, or example, pay for your child's college tuition or make a down payment on a new house.
In most cases, sale of structured settlements is regulated and you may need court approval for the sale. You are always advised to consult with an expert in negotiating a structured settlement sales contract. You will also likely lose the tax benefits provided by a structured settlement if you sell for a lump sum payment.
However, if you definitely need the money in your award to meet urgent financial requirements, you should shop around for structured settlement quotes. Not every offer will be the same, so look around for the best deal for your settlement. For example, JG Wentworth and Peachtree may actually give lower offers than smaller, less-known competitors.
Make sure the buyer of the settlement is a professional company with an established reputation. Ask about their qualifications and for references on the quality of their work.
A professional company can also analyze your situation and advise you on whether selling your structured settlement is the right choice in your particular case. Once sold there is no turning back, so you want to make sure you are making the right financial decision
However, you may need the money from that settlement now to, or example, pay for your child's college tuition or make a down payment on a new house.
In most cases, sale of structured settlements is regulated and you may need court approval for the sale. You are always advised to consult with an expert in negotiating a structured settlement sales contract. You will also likely lose the tax benefits provided by a structured settlement if you sell for a lump sum payment.
However, if you definitely need the money in your award to meet urgent financial requirements, you should shop around for structured settlement quotes. Not every offer will be the same, so look around for the best deal for your settlement. For example, JG Wentworth and Peachtree may actually give lower offers than smaller, less-known competitors.
Make sure the buyer of the settlement is a professional company with an established reputation. Ask about their qualifications and for references on the quality of their work.
A professional company can also analyze your situation and advise you on whether selling your structured settlement is the right choice in your particular case. Once sold there is no turning back, so you want to make sure you are making the right financial decision
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