If you're one of the millions of people who have been awarded a structured settlement because of injury or damages you've experienced, regular settlement payments may provide a source of financial stability. But if your needs change and you're suddenly in need of a lump sum payment of cash, it can be very difficult, if not impossible, to change the terms of the settlement. In this situation, a structured settlement buyer may be able to provide cash in exchange for your regular settlement payments.
Structured settlements are a form of financial compensation in which payments are made on a periodic basis instead of one lump sum payment. This kind of settlement is commonly paid out in injury lawsuits, by insurance companies, employers and workers' compensation and even by certain lotteries to their winners. Structured settlements ensure that you'll have money coming in on a regular basis over a period of time.
The downside of these payments is that should you need more cash now to help with medical bills, college tuition, a down payment on a home or another financial need, there's very little room to adjust the payment structure.
Structured settlement buyers, also known as factors or structured settlement companies, provide a valuable service that makes it possible for the recipient of a settlement to trade in a series of slow, structured payments for a lump sum in cash. The lump sum is not quite equivalent to the total value of the settlement payments, but it does provide ready money that the recipient can use right away instead of waiting months, or even years, for settlement payments to come in.
It's possible to sell some or all of your settlement payments. Those who sell some of their payments will keep the remaining income payments in their own name and will continue to receive money from the remainder of their settlement.
Source address:http://www.articlesbase.com/personal-finance-articles/structured-settlement-buyout-2466850.html
Structured settlements are a form of financial compensation in which payments are made on a periodic basis instead of one lump sum payment. This kind of settlement is commonly paid out in injury lawsuits, by insurance companies, employers and workers' compensation and even by certain lotteries to their winners. Structured settlements ensure that you'll have money coming in on a regular basis over a period of time.
The downside of these payments is that should you need more cash now to help with medical bills, college tuition, a down payment on a home or another financial need, there's very little room to adjust the payment structure.
Structured settlement buyers, also known as factors or structured settlement companies, provide a valuable service that makes it possible for the recipient of a settlement to trade in a series of slow, structured payments for a lump sum in cash. The lump sum is not quite equivalent to the total value of the settlement payments, but it does provide ready money that the recipient can use right away instead of waiting months, or even years, for settlement payments to come in.
It's possible to sell some or all of your settlement payments. Those who sell some of their payments will keep the remaining income payments in their own name and will continue to receive money from the remainder of their settlement.
Source address:http://www.articlesbase.com/personal-finance-articles/structured-settlement-buyout-2466850.html
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