Cash For Structured Settlement Payments - Will You Get What You Are Owed (cash for settlement)

By Steven Saunders

Cash For Settlement

Is cash for structured settlement payments possible? The simple answer is, yes, indeed you can. There are plenty of companies out there that are willing to "buy out" your structured settlement payments in exchange for a large, lump sum of money up front. Though this certainly sounds like a great idea, you need to make sure you understand all the ins and outs of the idea before you jump in with both feet.

First, consider the fact that you ultimately will be settling for less money. Yes, you'll get it all up front, but if the company buying out your settlement didn't charge something for the service, it would be a complete waste of time for them. These companies are willing to bide their time and wait for the money to roll in and make a profit.

Second, make sure you actually need the money. If you want to go on vacation or want to buy some new frivolous gadget, consider holding onto the payment plan. Emergencies such as unforeseen illnesses or disasters, on the other hand, may warrant you exchanging your payments for cash.

Third, exercise some patience. "Patience is a virtue" as the old saying goes, and it is certainly true. Just like some folks stick with a job they hate simply because they're close to retirement, you should consider sticking with your payment plan. If you can ride it out, it will have a greater payoff in the end.

Lastly, consider investment. There are plenty of investment plans out there that will allow you to have your settlement payments rolled directly into whatever financial investment plan works best for you. On the other hand, if you can afford it financially and don't mind taking more of a gamble, you can take the cash route and make a huge investment all at once. While this may result in a huge payoff, you should definitely consult with someone first unless you are an investment guru.

Conclusion

At the end of the day, only you can decide whether or not you should sell your structured settlement payments. You need to carefully consider your financial situation and your want and needs before making such a huge decision. You need to recognize that there is a difference between what you want and what you need. They are two very different things. If your settlement is fairly negligible, it may be a good idea to take the cash option, but if it is a major source of income, you may be best served by holding onto it. Many people will talk to a financial advisor before making such huge leaps, and this is a very good idea. Financial advisors can crunch all the numbers for you and lay it all out on the table in front of you. They can tell you whether or not cashing out is a good idea at this time. So yes, cash for structured settlement payments is possible, but you need to go over all your options in your head and with a qualified professional before making your choice.

Cash For Settlement

Get a Lump Sum of Cash For a Structured Settlement (cash for settlement)

By Greg A Williams

cash for settlement

Lump Sum Structured Settlement Overview

You may have been injured and a lawsuit was granted in your favor. One scenario is as follows. For the next 30 years you could be receiving steady monthly payments that increase every year by 3% this is called a structured settlement from a lawsuit or personal injury settlement. If you are getting say $700 a month for next 30 years or 360 months this comes out to $252,000.00 there are other options to this settlement. These $700 a month payments seemed great in the start but now you need more money, lots more. You can get more money from your settlement read more to see how. You may have received the first 5 years of the 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, nor use it as collateral. What is permitted is an option outlined by law to sell some or all your future payments in exchange for a lump sum. A court order must be obtained to allow a lump sum for structured settlements. Now because of rising expenses and a need for cash the desire may be a lump sum. Structured settlements have advantages and disadvantages when thinking about keeping them or holding on to them.

Lump sums of cash as approved by a court order can be used for many of the following:

• Down payment on a new home
• Get out of debt that you are drowning in
• Pay off credit card bills
• Pay medical related bills and services
• Buy a new device or equipment that would help your disability
• Pay piled up business expenses or fund a business
• Education tuition and school bills
• New car or payoff of a car
• Home improvements that are desperately needed, such as a new roof

The final decision will ultimately be the judge that is looking at your request. Most requests are approved, but it is not guaranteed that all cash transfers will be approved. There are some items in the settlement that may not allow for the sale of future payments, there may be a non assignment clause, an age to sell clause or other type of restriction. 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 on the web and see what your future payments are worth today. This will help you get a ruff estimate of what the future payments are worth. The settlement funding companies will have their own risk rates for present value. Use the calculator to see what the ballpark amount would be. Be sure to interview or ask the settlement purchasing company many questions such as how long they have been in business, if they have a legal team, if structured settlement funding is their main business. When researching to find a good buyer one way to select is to contact the national better business bureau by phone or their web site 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 the process started now.

cash for settlement