Why Should You Take Full Advantage of Structured Settlement Payments?
Structured settlements are meant to help a person who has suffered an accident or has undergone a lawsuit. Typically, these settlements assure their recipients that they will regularly receive a fixed amount of funds every month for a set period of time.
There are times, however, when waiting for the settlement to slowly trickle in is disadvantageous, especially if the family is under financial strain. An article by Jesse Schmitt cites an example of such a case that can be alleviated by immediate structured settlement payments:
The benefits to those who decide to sell structured settlement payments due to them in the future cannot be overstated. Many people are unemployed or underemployed; families are moved from bad living situation to bad living situation; the whole of the experience can be very galling for an individual who once was able to make ends meet of their own accord. Even greater than that the movement around of school-aged children can be very disruptive. When families are forced to move from one school district to the next, this is very harmful for the development of a child. Repeated movements can cause them to act out or turn inward depending on the disposition of the child.
Structured settlement payments are meant to immediately cash out the amount that is due the recipient of the settlement for immediate consumption. Taxes may reduce the value of the settlement, but it is an effective way of getting the amount quickly.
This system is great for households like the one Schmitt described in his article. Families might experience a time when they are under financial fire and have no way out despite the presence of other financial options. Situations like these make structured settlement payments a lot more attractive in order to clear out present financial stains.
When a recipient of a structured settlement plan decides to cash the settlement out, he must consider the different buyers on the market. He must be able to recognize a reliable buyer of annuity structured settlements and cooperate proactively. People interested in selling off their settlements should consult reliable buyers like Granoff Enterprises to know the dos and don’ts of selling their settlements.
(Article Excerpt and Image from The Pros and Cons of Selling Structured Settlement Payments, Yahoo! Voices, February 5, 2013)