Large settlements such as wrongful death and injury suits could also result in large payouts. Usually these large settlements will not be paid out all at once. Most times the amount of the settlement is paid over a few years in small monthly payments.
Due to the fact that a large settlement is not paid out to you in one check, it is very advisable not to make any plans for your winnings from your lawsuit in advance. The size of your installment check could be too small to be able to cover the amount owing.
There are many companies that will offer you help in a situation like this. They will offer you a large amount in cash in return for the right to your monthly structured settlement installment. You get a large sum of money so that you can put your big plans in action. It is like taking a loan, without having to pay it off, because the monthly check from the settlement is paying your loan off for you.
The money that you were awarded is rightfully yours. The payment where the structured settlement is being paid is now a debt that is owed you and is really being returned to you interest free. Remember not to consider it as additional income but money that is already yours.
When a company purchases your settlement offer, you get a lump sum check. This money is yours to do as you please. Investing the money to receive income from the interest earned might be an option to consider. This process is more convenient than waiting for your monthly installments.
Another option is a payment plan from the company who has purchased your settlement offer in case you don't want one large check. There are a lot of options for to choose from. You can receive a large amount of money at once, put an amount down on an existing loan or mortgage or receive larger payments in a shorter time span.
There are Customer Service Departments available to provide assistance to you through each step of the process. Information on all of the options available will be presented to you at the time of your initial consultation. The terms of your settlement will most likely determine the options that you choose. All structured settlements are unique and this personalized service would benefit you immensely.
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