05 Aug Get Cash For Structured Settlement Payments Today
Every year, more than 37,000 Americans use (and depend on) structured settlement annuity money. What are structured settlement annuities? A structured settlement annuity is a financial deal that is paid to plaintiffs in a civil suit trial. The annuity is the result of a favorable court decision or a settlement made out of court. Either way, Americans who file lawsuits against incompetent employers, doctors, drivers, and other people and win are often rewarded with these annuities. And for plaintiffs who are unable to work or otherwise take care of themselves, structured settlement annuity benefits are critical to their well-being.
However, receiving settlement money is much harder than it sounds. Annuities are just that: annual payments. Courts prefer annuity payments rather than lump sum payments. As a result, claimants who need much (if not all) of their settlement money upfront are often out of luck. This payment play can put a severe strain on their existing money and resources.
There is an option for claimants in situations like this. Selling your annuity is a novel and convenient way to get your settlement money upfront or in a timetable that is better suited for you. How does it work? You can sell your structured settlement to a financial company that uses it for investment. In return, the company will give you the full settlement money in a lump sum payment or in a special payment option that’s right for you. You can even decide to hold on to the money for a certain period of time, much like a retirement plan.
Cash for structured settlement payments is easy to come by with this method — and the figures show it. In 2013 for example, more than 34.8 million annuity contracts were sold or deferred to the tune of $2.58 trillion. Moreover, more than 92% of people who sell their annuities claim they are happy with their decision. For more information on how to get cash for structured settlement payments, feel free to leave a note at the bottom.