|
|
|
Debt Consolidation – Can You Negotiate with Your Credit Card Company?
The average American household has nearly $10,000 in credit card debt, and many people are only able to make the minimum payment of 2% of the balance. Even 2% is $200, and by paying the minimum payment, you could be paying on the balance for decades...
Debt Consolidation – Watch out for Payday Loans
Most any large city has a number of small shops offering payday loans. They’re often found in strip centers; sometimes they double as pawn shops. They have a simple business – they lend you money until your next paycheck. The system is pretty...
Growing Faster Than Your Cash Flow? Let Factoring Fund Your Next Expansion!
Why wait weeks or months to get paid by your clients when you can access your money in a matter of days by factoring your invoices. When a business factors their invoices, they are allowing a third party to purchase their invoices at a discount...
Take A Structured Settlement Or One-Time Lump Sum Payment?
If you are involved with a legal decision, financial claim or insurance arrangement, the financing process to settle and resolve the claim can often take two forms. Either a one-time lump sum payment, or a long-term periodic series of deferred...
What Is Cash Flow?
Cash flow simply means the money that comes into and leaves a business or household. Money flows into a business in the form of revenues and out through the form of expenses. Money flows into a household in many forms. Are you receiving money from...
|
|
| |
|
|
|
|
|
|
When to Sell Your Structured Settlement
A structured settlement often follows a life changing incident,
whether it be positive or negative. Due to these circumstances,
you may be faced with the need for a large lump sum payment
rather than small monthly payments over a number of years. So,
where do you turn? To a company that can buy your structured
settlement from you and turn it into an immediate payment that
you may use on whatever you see fit.
Each individual has different reasons for wanting to sell their
structured settlement, however, first you must decide if it is
the right decision for you.
The Benefits of Selling Your Structured Settlement
A large portion of those who receive a structured settlement can
benefit from selling it for a lump sum payment. The situations
listed in this section represent possible circumstances of
individuals that may get the most rewards from selling their
structured settlement.
· If you cannot wait to receive small, spread-out payments over
a long period of time due to a dire financial situation or hefty
medical bills and/or lawyer fees. Many of the situations that
can bring about a structured settlement can also stick the
individual with such obligations.
· If you and your family decide that this is the time to finally
make that large purchase that you have had your eye on. For
example, if you have previously been denied mortgages or loans
and would like to take this opportunity to buy that dream home
you have always wanted. Or if you have a child or children who
are preparing to go off to college and you fear you may not have
the financial means to support that dream otherwise.
· If you have talked with a financial advisor and both of you
feel that you could profit more by investing a lump sum payment,
rather than waiting on monthly payments. If the money is
invested properly, there is a chance that you could end up with
more money in the end than your settlement was ever worth.
However, this should not be a plan that is entered into lightly.
You should work closely with a financial specialist and feel
confident that you have found a great opportunity to invest in.
· If you are of older age and feel that you may not be around
long enough to receive a fair amount of your structured
settlement. You may want to the chance to enjoy the benefits of
your settlement or may want to secure part of it for your family
after your passing. This way you can distribute the funds as you
see fit instead of relying on lawyers or courts.
· If you don't plan to use the money right away, but would
rather put it into a savings or money market account to draw
interest. This would be best suited for someone who has a very
hefty settlement, can find an account with large payoff terms,
and plans to keep the majority of the money in the account for
many years.
No matter what your reason for wanting to sell your structured
settlement, choosing this option puts you back in control of
money that is rightly yours. The problem that many individuals
have with their structured settlements is that the control over
their money is left to lawyers, courts, and the company or
persons paying out the settlement. You are now able to say
where, how, and - most importantly - when you spend your money.
The Drawbacks of Selling Your Structured Settlement
For a few
individuals, selling their structured settlement and
receiving a lump sum payment may not be in their best interest.
One must also evaluate these situations and determine if they
outweigh the reasons you are considering selling your settlement.
· First and foremost, selling you structured settlement means
that you will receive less money than you would if you were to
keep it. However, for many people considering this option, this
seems like a win-win situation - they will get one large lump
sum payment and the company they sold it to will make a profit
in the end. The good news is that since you have several
companies competing for your settlement, you can choose the one
that will give you the a portion of the full settlement that you
can live with.
· Because you may lose out on a substantial portion of your
settlement by selling it, if you are in a financial situation
where regular monthly payments will only be a bonus on top of
what you already make, waiting out your settlement may be in
your best interest. However, if you're a senior, then you should
also take your age and the length of your structured settlement
into consideration. This would be the ideal situation for
someone who is young enough that they have a great chance of
living out the life of their settlement.
· If you are a person who is poor at managing large sums of
money, then selling your structured settlement may not be right
for you. For example, if you are the kind of person who gets a
large paycheck every two weeks and finds themselves running low
on available cash at the end of those two weeks, then that may
be an indication that needs to be closely looked at. In this
type of circumstance, having your settlement portioned out to
you on a monthly basis may keep you from spending it too
quickly. Once your settlement is gone, you will be back at
square one.
· For those reasons, you should also not consider selling your
structured settlement if you have an addiction to gambling,
shopping, or drugs.
· If your settlement was due to an accident that has put you out
of work and the funds from it will replace your monthly income,
then keeping the payments on a monthly basis may help your
family keep your finances in order. However, even in this
situation selling your settlement may be best for you if you
would like to renegotiate your payments into a larger sum each
month to shorten the life of the settlement.
Most individuals receiving a structured settlement can benefit
from selling it to a company that can give them a large lump sum
payment or shorten the life of the settlement, especially if
they are older persons, an individual who has enormous expenses
due to an accident or court case, someone in a critical
financial position, or one who wishes to make a large purchase
for themselves and their family. Finding the right company with
terms that fit your needs is a key component of making your
experience with selling your structured settlement a positive
one.
About the author:
David Springer is a consultant for Sovereign Funding Group.
Sovereign Funding Group is an experienced, reputable company
that offers convenient, no-risk services to help you with the
selling of your deferred payments and business financing
including structured
settlements.
|
|
|
|
|
| National Structured Settlements Trade Association (NSSTA) |
| Provides structured settlements using periodic payments to resolve claims. |
| www.nssta.com |
|
| Structured Settlements |
| Setting up structured settlements for personal injury claims. |
| ilf.hartfordlife.com |
|
| Structured Settlements, Structured Annuity, Structured Settlement ... |
| Full-service plaintiff structured settlement firm since 1986, providing services and strategies for personal injury lawyers and clients during the ... |
| www.structuredsettlements.org |
|
| Structured Settlements | Annuity Purchasers |
| Structured Settlement Buyers. Purchasers specializing in structured settlements and lottery winnings. Site contains attorney, broker and investor ... |
| www.ppicash.com |
|
| Structured Settlement Cash for Structured Settlement Annuity ... |
| Annuity Transfers Homepage - Buyer of Structured Settlements · Home | Sell Your Payments | Brokers | Investors | Testimonials ... |
| www.annuitytransfers.com |
|
| EPS Structured Settlements Group: A Structured Settlements Company ... |
| EPS Settlements Group is located in Denver, Colorado and is a founder of the structured settlements industry. |
| www.epssettlements.com |
|
| Mckellar :: Structured Settlements |
| News. ... Skip Intro Always >> |
| www.mckellar.com |
|
| The Structured Settlement - What You Need To Know |
| About two thirds of states have enacted laws which restict the sale of structured settlements, and tax-free structured settlements are also subject to ... |
| www.expertlaw.com |
|
| Settlement Capital Corporation - sell structured settlements,sell ... |
| Direct purchaser of structured settlements and other annuities. |
| www.setcap.com |
|
| John Hancock Insurance and Financial Services :: Explore Our ... |
| A structured settlements annuity provides injury victims or the victim's ... John Hancock Structured Settlements and Attorney Fee Annuities are just two ... |
| www.johnhancock.com |
|
| Structured Settlements - Prudential Financial |
| Your company may become liable to pay a settlement as the result of a legal proceeding. A Structured Settlement Annuity provides ongoing periodic payments ... |
| www.prudential.com |
|
| Finance - Structured-Settlements Ezine Articles |
| EzineArticles.com allows ezine or email list publishers to upload or download free expert content that can be used within email newsletters or websites. |
| ezinearticles.com |
|
| Understanding Structured Settlements: A Novice's Guide to the ... |
| Learn what a Structured Settlement is in plain English. Find Structured Settlements company, payments, broker, annuity and loan info. |
| www.noendpress.com |
|
| structured settlements, personal injury, annuity, disability, accident |
| Structured Settlements allow income to be spread over time, which is safer ... Structured settlements are often ideal under the following circumstances: ... |
| www.structuredsettlementhelp.com |
|
| Structured settlement - Wikipedia, the free encyclopedia |
| Structured settlements were first utilized in Canada and the United States ... Structured settlements are now part of the statutory tort law of several ... |
| en.wikipedia.org |
|
| Structured Settlement vs. Lump sum - What to do? |
| More and more claimants are choosing structured settlements. ... Most structured settlements come in the form of an annuity, which is sold by a third party, ... |
| injury.freeadvice.com |
|
| Welcome to The Halpern Group, experts in structured settlements ... |
| Offers structured settlements, consulting and negotiation services to attorneys representing injured clients. |
| www.halperngroup.com |
|
| Structured Settlements Leader J.G. Wentworth, JG Wentworth ... |
| Structured Settlements Leader JG Wentworth, JG Wentworth Settlement Funding - More than 25000 individuals have come to JG Wentworth to finance their dreams ... |
| www.jgwfunding.com |
|
| DOG BITE LAW - Structured Settlements |
| For those reasons, changes were made to the Internal Revenue Code that enable knowledgeable attorneys to create "structured settlements." ... |
| www.dogbitelaw.com |
|
| Structured Settlements Law – Lawyers, Attorneys & Free Legal ... |
| I am confused by the number of internet sites that plug offers of structured settlements, sale of structured settlement annuities, and attorneys who offer ... |
| injury-law.freeadvice.com |
|
|