How Structured Settlements Work

If you need to bounce back from a personal injury in a way that makes sense for you, it will come down to how you handle the negotiations. Negotiations are a critical part of getting what you need out of this process and will allow you to move forward and walk away from your injuries with the money that you need. However, having access to this money will also prove a potential investment for you, since you can get help from a company that can sell it for you. By selling one of these settlements, you will have access to money that can be used for many different reasons.

First and foremost, let’s define what a structured settlement is so that you can understand. It is an out of court agreement on a specific amount of money that lets you pay for your damages, as you also drop your lawsuit. It is this out of court settlement that gives you the compensation that you need. The beauty of these agreements is that you will be able to turn this settlement into a stream of income when you decide to sell it. The subsequent section will explain a bit more about how you can go about selling your settlement.

The Process of Selling A Structured Settlement

When you believe a settlement sale is in order, you’ll need to understand a bit more about what is required of you to sell it. First, you must find the help of a company that is willing to purchase your agreement. In many situations, there are lifetime payouts for these settlements, particularly if you sustained significant injuries. You will be able to sit down with a company to come up with an amount that they will pay to purchase your plan, and this can be paid out in some different ways.

The first and most common ways that this sale goes through is with a lump sum payment. When this happens, you will be able to enjoy still the tax benefits that come along with your settlement and will either receive one payout or multiple payouts of large amounts of your entire policy. You will need to go over the terms of your policy to see which will carry over when you decide to sell your settlement.

Another way that the sale goes through is with an agreement that will give you some different payouts over the subsequent years. This can be advantageous to you if you’re looking for in ongoing stream of income as opposed to a lump sum payment. This can often be a matter of preference for you, so you will need to go into the process understanding exactly what you hope to get out of it.

There are a lot of different reasons that you might opt to sell your structured settlement. Because of this, you should take inventory of your options and the issue at hand to decide how you will use the money. Some of the ways that selling your settlement can be helpful is to purchase a new property, get seed money for an investment and to pay off any debts that you might have. When you would like to go about the process of selling the settlement, you will need to be sure that you can match up with the right company that can help you out. There are a few top companies that you will want to do business with in this regard.

The Top Structured Settlement Companies

We have a lot of people e-mailing us the same question: how can I sell my structured settlement and which company to choose. Thankfully, you have three solid options to turn to when it comes to attempting to sell your settlement. These three options are JG Wentworth, Peachtree Financial and Seneca One. They are all regulated by the NSSTA. By going through these options meticulously, you will have the opportunity to get the best plan possible for you and to negotiate with them on a payout that will make the most sense for you.

  • JG Wentworth has been around for years and is considered a premier company when it comes to structured settlements.
  • Peachtree Financial is a Florida company that has a 20-year reputation of doing the same.
  • Seneca One boasts excellent rates and speedy payouts whenever you would like to sell your structured settlement plan.

How To Choose The Right Structured Settlement Funding Company

However, when it comes down to it, the decision on which company you decide to go with will be completely and totally up to you. You will need to study these companies to the best of your ability and give yourself the opportunity to speak with representatives that can explain the entire process to you. You should also shop around between these three and any other that make sense to you to be sure that you can get the fairest payout possible for your settlement agreement. Do not sign the contract until you understand the ins and outs of selling your payout and will be able to make the wisest decision for you. With these companies, you will typically be speaking to the same representative on a regular basis, to build continuity. They will keep you abreast of the timetable of your out-of-court settlement and let you be the judge on which one you decide to do business with. From here, you will be able to get cash in your bank account which will allow you to use it for any financial matter that you see fit.

Selling your structured settlement can be an excellent endeavor as long as you know exactly what you’re doing and that you find a company that is the most reputable. From here, you will see a deposit in your bank account based upon the agreement that you set up with the company. Take this information and use it so that you can make the right decision for you and to get the money that you need.