Structured Settlements and Personal Injury Lawsuits
One kind of legal settlement that’s likely to be awarded as a structured settlement is a personal injury or wrongful death claim. Many of these kinds of legal settlements are set up to be delivered in scheduled payments over time. This can help a family deal with continual costs of care, loss of a breadwinner’s paycheck, or other long-term financial issues.
Judges and legal experts understand that too often, awarding a settlement in a single lump sum can have unintended consequences. The recipient might spend the money too quickly and be left with too little to cover eventual costs. In almost all kinds of significant personal injury cases, much of the awarded money is meant to pay for the medical bills that will continue to arrive for years after the accident or injury. That’s one reason why a structured settlement is such a common way to set up an injury or fatality claim payout.
In each kind of personal injury or wrongful death case, the structured settlement will often be tailored to the specific needs of the family receiving the settlement. For birth injury cases, the awarded structured settlement is designed to contribute to future care arising from a child’s disability or other special need. In a slip-and-fall case, or a similar injury case, the structured settlement payments are meant to cover long-term physical therapy and loss of income. In wrongful death cases, the family receiving the structured settlement can put each payment toward a mortgage and other bills.
It’s easy to see why someone might be awarded a structured settlement in these types of cases. However, smaller scheduled payments can’t help households deal with a financial emergency or a big purchase. Investing in a new home, sending a child to college, or paying for unexpected medical expenses might all require large amounts of money up front.
In such cases, unlocking some of your structured settlement makes economic sense. In these situations, you need a structured settlement buyer to help set up a successful sale. Selling part or all of a structured settlement can help you and your family avoid financial hazards such as taking on high-interest debt — as well as potential late fees and penalties — to pay for major needs.
The best structured settlement buyers will work closely with you to get a good result. This means providing several options for a structured settlement sale so that the seller can choose the best option given the household’s long-term budget requirements. It also means explaining to the structured settlement holder the legal requirements for the transaction and being up front about what a client can expect.
At CBC, we provide the right combination of experience in structured settlement deals and outstanding customer service to each of our clients. We will present your options for a structured settlement sale clearly, and help you evaluate your choices. We’ll be reasonable about what you can expect for a proposed structured settlement payout plan, and we’ll keep you informed every step of the way.
Talk to us about how to successfully get some money out of your structured settlement when you need it. For more information, please call 877-386-3377.
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