A structured settlement resulting from a personal injury tort claim can be sold for a lump sum of money to a structured settlement factoring firm. What many individuals who do sell these future payments to a factoring company don't know is they can sell as many or as few payments as they would like.
Many of our clients here at Settlement Quotes choose to sell only a portion of their future structured settlement payments. These clients usually payoff their credit card debt or unsecured debt with the lump sum of money that they receive from us. We think it is important that the structured settlement stay in tact as much as possible to secure the fixed income that you do receive otherwise you can dwindle the lump sum payment away in the matter of years.
It is important to remember that cashing out a structured settlement can be expensive, so it is recommended to only factor your structured settlement once. We want you to keep part of your future settlement payments, but we also want you to be financially secure. If you have other large expenses that you may need money for, add that into your lump sum that you will need before you factor your structured settlement.