How To Get Quick Cash for Your Structured Settlement

If you are like most people, you will receive a structured settlement when an injury or accident results in a settlement that is intended to cover all of your future losses. Structured settlements are often an excellent method for plaintiffs to receive compensation due to the fact that they do not immediately know what type of future losses they may incur.

However, with the use of structured settlements becoming more and more common, it is also being used less as a way for plaintiffs to reach their potential gains. This has resulted in many people intentionally or unintentionally living with this debilitating form of financial abuse.

What is a Structured Settlement?

Structured settlements are often referred to as annuities, or life insurance as well. The reason that structured settlements are often placed into these types of policies even though they are not life insurance is that they provide a future benefit to the person who is receiving the settlement.

In a structured settlement, an injured party's settlement is paid out over time in installments that can be recurring or not. Since the payments are made in installments, an injured party will often sell his rights for present value while agreeing to give up any future rights he would have had if he had received a lump sum instead.

Benefits of Structured Settlements

Structured settlements are excellent means by which to ensure that an injured party receives a fair amount of compensation for his or her injuries. They also provide a number of added benefits to the injured party including:

·          They can help take care of the beneficiary's needs at the time they are being paid out.  Since money is being deferred for an extended period of time, this can make it easier for those who need money right away to make their needs more affordable and less stressful.  In addition to helping with current expenses, structured settlements can also be used as investment vehicles or savings accounts so that extra money will be available when it is needed later on.

·          Structured settlements protect an injured party from the costs of inflation. While future value payments are based on current values, the actual payments will increase to account for inflation. As a result, if cash is released early the effects of inflation will make the present value payment worth less than what it would have been worth in the future.

Why Would You Want to Sell Your Structured Settlement?

Most people who receive structured settlements never want to sell their structured settlement in case they need money later on. However, it is becoming more and more common to see people intentionally or unintentionally sell their structured settlement in order to receive a large lump sum of cash.

In many cases, the injured party will not actually need the money from the sale of his or her structured settlement. This can be because the person is paying off debt or because he/she is receiving other income such as a pension from an employer. 

What should you do when you are unable to afford your monthly payments? Nothing could be better for you than having quick cash for yourself without having to deal with the stress of trying to figure out how to pay your bills . If this sounds like something that would benefit you, then click below and get started today.

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Structured Settlements May Increase Interest in You

Many people who receive structured settlements never want to sell their structured settlement in case they need money later on. However, it is becoming more and more common to see people intentionally or unintentionally sell their structured settlement in order to receive a large lump sum of cash. In many cases, the injured party will not actually need the money from the sale of his or her structured settlement. This can be because the person is paying off debt or because he/she is receiving other income such as a pension from an employer.  What should you do when you are unable to afford your monthly payments? Nothing could be better for you than having quick cash for yourself without having to deal with the stress of trying to figure out how to pay your bills. If this sounds like something that would benefit you, then click below and get started today.

1.          Can I Get a Lump Sum Payment?

In most cases, the injured party can receive lump sum payments whenever they want. This is often done when an injured party needs to make large purchases such as purchasing a house or paying off college loans before beginning their career.

2.          How Long Will It Last?

In most cases, structured settlements are paid out over a period of time. A common period is 10-15 years. In order for the injured party to receive a lump sum payment, they must have been out of work for at least 2 years.

3.          Does the Injury Have to Be a Work Related Injury?

It is possible to receive a lump sum payment when an injury is not related to work but it will usually take longer and be subject to more conditions than if it was a work injury. The amount that can be received for injuries that are not related to work can be much less than for injuries that are related to work.

4.          Can I Have Access to the Settlement Money Before It Is Paid Out?

In most cases, the injured party can receive lump sum payments whenever they want. This is often done when an injured party needs to make large purchases such as purchasing a house or paying off college loans before beginning their career.

5.          Are There Any Losses on the Settlement Amounts?

6.          What Happens if I Forgo Future Payments?

7.          Will Lump Sum Settle for Tax Benefits?

In most cases, a large payment will count as taxable income for each year that the settlement was paid out and it will be subject to the tax code's tax bracket for that year. This means that years in which you receive a settlement that is less than average income may result in a lower tax bill than if you had received the payments as they came available. However, you will still be subject to any taxes from those years in which payments were made above the average income for your yearly position.

8.          Can I Get a Lump Sum Payment?

In most cases, the injured party can receive lump sum payments whenever they want. This is often done when an injured party needs to make large purchases such as purchasing a house or paying off college loans before beginning their career.

9.          If I Sell My Payments Does It Matter Who I Sell To?

10.          If I Sell My Payments, Do I Have to Keep the Money in Taxable Accounts?

In most cases, the injured party can receive lump sum payments whenever they want. This is often done when an injured party needs to make large purchases such as purchasing a house or paying off college loans before beginning their career.

1.          How Much Does a Lump Sum Settlement Cost?

Typically, lump sum settlements are made at 100% of the value of the structured settlement payments and are paid out over a period of time. The length of time for receiving this type of settlement will depend on the amount that is being paid out and the length that it will take for those payments to be made.

Conclusion

If you are injured while in the U.S. military, it is critical that you act as quickly as possible to receive the maximum amount of compensation that you can for your injuries. One of the best ways to do this is through filing a claim for disability benefits. If you are injured in an on-the-job injury situation, it is important to contact a skilled attorney as soon as possible to discuss your disability benefits claim so that money can be obtained quickly to help pay for medical bills and other expenses related to your injuries.

At The Law Offices Of J. Locke Smith we have helped many people get the financial help they need by getting them disability benefits and other types of damages related to their work injury or accident.