28 Dec More Structured Settlement Funding Means More Money In Your Pocket
A structured settlement annuity can be obtained through things like a personal lawsuit, insurance claim, or workers compensation incident. They are facilitated by professional consultants and provide tax-free, annual payments over a period of time, specifically designed to meet the needs of the injured party. More than 37,000 Americans use structured settlement money every year.
One of the nation’s specialty firms is The Lawsuit Settlement Funding Company, a subsidiary of Legal-Bay LLC. The settlement company announced in a press release last week that they will be focusing efforts towards structured settlement annuity funding in 2016, according to the press release hub Satprnews.com. Overall, more than $6 million is paid each year to fund new structured settlements.
“In recent months, funding application activity has been picking up for litigations that have settled, and also for clients who have long term structured payments for their settlements,” the press release reads. “Clients have been contacting Legal-Bay to attempt to buyout a portion – or all – of their claim.”
With more money flooding into the structured settlement annuity industry, the opportunity to get cash for structured settlement payments has never been better. While the slow trickle of annuity payments can be a secure investment for some, it’s simply not feasible for many people these days.
Student loans, medical bills, car payments, and house mortgages are just a few of the expenses many people struggle to afford. By selling a structured settlement, though, you can get a lump sum versus annuity payments and use the money immediately as you need.
Another reason many people prefer to sell their structured settlement annuity is because of the many fees that can be associated. If you make a withdrawal within the first five to seven years of establishing an annuity, you typically will be hit with surrender charges of up to 7% of your investment or more.
With the average structured settlement payout being about $324,000 the opportunity to change your life is just a phone call away. Contact our experts at Structured Asset Services today.