Understanding Structured Settlement Funding
If you have a structured settlement or annuity from an insurance company, it can be both a relief and a confusing thing at the same time. Structured settlements are designed to give you the money that you deserve over time, rather than all at once. While this is convenient for the insurance company, and it means that you will have money coming in for years to come, it doesn’t always solve all your problems right away. That’s why many people with structured settlements opt to cash out some or all of their future payments in return for a lump sum of cash. But it’s important to know some of the laws regarding structured settlement funding before taking it into consideration.
As structured settlements became more popular, it was discovered that many people who receive them have immediate, expensive needs that couldn’t be covered by regular smaller payments, and so structured settlement funding became an option. But it also came to light that allowing people to transfer their payments in exchange for a lump sum of cash wasn’t always a good thing. So there are now laws that limit and regulate how you can go about doing it.
Courts will ultimately determine whether you can transfer some or all of your future payments to a trusted structured settlement buyer so that you can do certain things with your money. Courts require that you have a good reason or need for a cash payout; simply wanting it is not enough. Some of the reasons sellers often need a lump sum payment include: urgent medical bills, paying for education for themselves or their children, buying a new home, remodeling an existing home to accommodate disabilities, buying a car, or starting a new business. These are not the only reasons, but they are examples of the kinds of reasons sellers often want to receive a lump sum of cash for their structured settlement or annuity.
There are a lot of things that you can do with structured settlement cash now. If you’re not sure whether your needs may qualify, the best option is to speak with an experienced representative who can tell you whether or not you may be able to transfer your future payments for a lump sum of cash. To learn more on how you can get cash for your structured settlement, please call DRB Capital at 877-894-4541. Get your quote for settlement cash today.