Information on Using Structured Settlement Money for Today’s Needs
Structured settlements represent your victory in court over the individual or company who caused you injury. Most structured settlements are the result of a personal injury case, or a liability case (but that’s not necessarily always the case). The structuring of your settlement was done for a number of reasons, including to help ease the financial burden on the defendant, and it was also based on your needs at the time, but needs change. Can you use structured settlement money for today’s needs?
Life is all about change. Hopefully, those changes are for the better, but all too often, they’re not. For instance, if your settlement came about as the result of a personal injury, your payments certainly helped pay for medical bills at the time. But what if you’ve now lost your job due to your injury? What if you’re facing foreclosure on your home? In instances like these, it would be nice to have a lump sum of cash, simply because those monthly payments aren’t enough to meet your financial needs today.
How You Can Change Your Circumstances
While you can’t go back in time and revisit your original settlement case, there is a way that you can start using structured settlement money for today’s needs. You can sell part or all of your payments to a company that buys structured settlements and get cash up front. How does this work? It’s at once simple and complex.