A structured settlement is a form of payment that you get after winning a lawsuit over a personal injury, medical malpractice, and more. Depending on how much money you get, these payments get paid out over time, not all at once like many people might believe. Some people find that they need the money right away and do not have time to wait to get it, which is where structured settlement companies come in. They work closely with clients and pay them cash for their structured settlement or annuity. If this is something you’re interested in, keep reading.
What’s a Structured Settlement?
As mentioned previously, a structured settlement is a form of payment received after winning a lawsuit. The money is paid in installments over time, usually monthly – unlike with annuities that pay out annually. When you work with structured settlement companies, however, you have the option to sell your structured settlement for cash.
Why Sell Your Settlement?
There are a variety of reasons why someone would want to sell their settlement. For example, if you need money to pay off your medical and legal fees, you may not have time to wait around for your settlement to be paid out in full. That is why many people turn to these companies instead. Of course, the type of settlement you get depends on how much money you win and what the defendant decides to do.
