Structured settlements provide individuals with discipline, spendthrift protection and the ability to receive payments on a predictable schedule.
You also have the chance to seize great opportunities that may arise. That can mean getting out of debt, starting a business, going back to school or investing in your family.
How it works
A structured settlement is a payment plan that provides ongoing tax-free payments to the parties after a lawsuit has been settled. These payments can be very large or they can be quite small.
Often, structured settlements are awarded for personal injury or work-related injuries. Regardless of your reason for receiving the settlement, it is an important financial tool that can help you manage life`s unexpected and unpredictable expenses.
If you receive a structured settlement that is too large for your current needs, you may be able to sell all or a portion of the payments. JG Wentworth can help you with this simple process.
In order to sell a structured settlement, you must choose a purchasing company or factoring firm to purchase your rights to future payments in exchange for cash. Do your research and shop around to find the best price. This can be done in the same way as you would for a car or any other purchase.
Why You Should Sell Your Structured Settlement
Selling your structured settlement payments is a great way to get a lump sum you can manage, especially if you are facing financial difficulties or other significant life events. This is a great way for you to reach financial goals such as buying a house or starting a company.
But before you sell your structured settlement, make sure to establish a valid reason for doing so. That`s important because judges scrutinize these transactions more closely.
Among the most common reasons to sell structured settlements are money shortages and debt. By cashing out your payments, you can eliminate high-interest debt and reduce stress associated with a shortage of funds.
A cash-out transaction typically comes with a discount rate, which can range between 9% to 18%. This is primarily based on the purchase company`s future interest rate assumptions.
How Much Money You`ll Get
A few factors will affect the amount of your structured settlement. One is the discount rate, which ranges from 9% to 18% of your settlement`s present value.
Another is the number of payments you sell. If you get $1,000 per month from your structured settlement, you can sell six months worth of that money for $6,000.
You will need to give a reason for selling a portion or all of your structured settlement. Judges will review your reasons for selling before approving the transaction.
It is possible that you need to borrow money to pay medical bills, or for repairs at home. Or maybe you`ve reached a point in your life where the payments are no longer a good investment.
The Process
Selling structured settlement payments for cash can be a great way to get the money you need. Often, people want to buy a home, pay off college loans, or start a business, but annuity payments don`t cover their expenses.
First, determine why you are looking to sell your structured settlement. Your reason must be compelling for a judge to approve the sale, as they base their decision on whether it`s in your best interest.
You can sell your whole structured settlement, or you can sell a certain number of monthly payments or a predetermined dollar amount. The full sale may give you more cash upfront, but it could mean you won`t receive any future payments and won`t have as much long-term financial security.
Although selling your structured settlement to factoring companies can be a great option, it comes with risks. Factoring companies charge a discount rate on the sale of structured settlements, average discount rates range from 9 to 20 percent and are intended to offset the risk assumed in the transaction.
My Structured Settlement is for Sale
March 26, 2023
Default
Comments Off on My Structured Settlement is for Sale
admin
Structured settlements provide individuals with discipline, spendthrift protection and the ability to receive payments on a predictable schedule.
You also have the chance to seize great opportunities that may arise. That can mean getting out of debt, starting a business, going back to school or investing in your family.
How it works
A structured settlement is a payment plan that provides ongoing tax-free payments to the parties after a lawsuit has been settled. These payments can be very large or they can be quite small.
Often, structured settlements are awarded for personal injury or work-related injuries. Regardless of your reason for receiving the settlement, it is an important financial tool that can help you manage life`s unexpected and unpredictable expenses.
If you receive a structured settlement that is too large for your current needs, you may be able to sell all or a portion of the payments. JG Wentworth can help you with this simple process.
In order to sell a structured settlement, you must choose a purchasing company or factoring firm to purchase your rights to future payments in exchange for cash. Do your research and shop around to find the best price. This can be done in the same way as you would for a car or any other purchase.
Why You Should Sell Your Structured Settlement
Selling your structured settlement payments is a great way to get a lump sum you can manage, especially if you are facing financial difficulties or other significant life events. This is a great way for you to reach financial goals such as buying a house or starting a company.
But before you sell your structured settlement, make sure to establish a valid reason for doing so. That`s important because judges scrutinize these transactions more closely.
Among the most common reasons to sell structured settlements are money shortages and debt. By cashing out your payments, you can eliminate high-interest debt and reduce stress associated with a shortage of funds.
A cash-out transaction typically comes with a discount rate, which can range between 9% to 18%. This is primarily based on the purchase company`s future interest rate assumptions.
How Much Money You`ll Get
A few factors will affect the amount of your structured settlement. One is the discount rate, which ranges from 9% to 18% of your settlement`s present value.
Another is the number of payments you sell. If you get $1,000 per month from your structured settlement, you can sell six months worth of that money for $6,000.
You will need to give a reason for selling a portion or all of your structured settlement. Judges will review your reasons for selling before approving the transaction.
It is possible that you need to borrow money to pay medical bills, or for repairs at home. Or maybe you`ve reached a point in your life where the payments are no longer a good investment.
The Process
Selling structured settlement payments for cash can be a great way to get the money you need. Often, people want to buy a home, pay off college loans, or start a business, but annuity payments don`t cover their expenses.
First, determine why you are looking to sell your structured settlement. Your reason must be compelling for a judge to approve the sale, as they base their decision on whether it`s in your best interest.
You can sell your whole structured settlement, or you can sell a certain number of monthly payments or a predetermined dollar amount. The full sale may give you more cash upfront, but it could mean you won`t receive any future payments and won`t have as much long-term financial security.
Although selling your structured settlement to factoring companies can be a great option, it comes with risks. Factoring companies charge a discount rate on the sale of structured settlements, average discount rates range from 9 to 20 percent and are intended to offset the risk assumed in the transaction.