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Thursday, January 26, 2012

How to Sell Structured Settlements - Personal-Injury Cases

A "structured settlement" simply means that damages are to be paid over the course of a given period of time on a regulated schedule. The injured party may receive a check every month, though in some cases it can be once a year or another agreed upon time schedule. This makes it easier for insurance companies, or other payees, to take care of the settlement money, but can stretch the process out for years.


Many people are interested in any possible way to sell structured settlements. Personal injury cases usually involve a growing stack of medical bills and sometimes make it very difficult, if not impossible, for the injured party to work a full-time job. A healthy, fully-functional person, who has worked their entire life, can suddenly find they are unable to get out of the house to continue working, which can be very scary-especially when combined with a serious medical condition that creates a stack of bills.


The good news is that it's possible to sell structured payments. Personal-injury cases are usually paid out by an insurance company, which is a stable business that many investment companies will feel comfortable working with. Buying structured-settlement payments is a business like any other and they must feel the chances of actually getting all of their money in the end is highly likely, or they will not take on the risk.


Finding someone capable and willing to buy out a personal-injury settlement is rather easy since many are based on the internet and will do business with people all over the country. There are laws that regulate the sale of structured settlements, so any agreement will have to be approved through a court, but the process usually goes rather smoothly and completes within a couple months for most people.


If you are not aware of the laws as they pertain to the sale of structured settlements in personal injury cases, it is in your best interest to seek a lawyer's advice. At the very least, allow them to look over the contract before you sign to ensure that your interests are served and protected in the contract. A lawyer will be able to pick up on things you don't even know about, and will know ways to make an agreement better for your end of the deal.


Even if the bills have to wait a couple more months while you go through the process to sell a structured settlement, it is much better than waiting years for the money. In most personal injury cases it will be clear right from the beginning whether you need to cash in your payments or can live off of them reasonably well. If there is an immediate need for the money it is best to get to the selling process as quickly as possible.


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