Many structured settlements are the result of winning a personal injury case, or a liability case, against a company or individual that caused harm to come to you. Financial settlements are set up to help ease monetary struggles and meet your current needs, but these needs, like many other factors, can change over time. Still, many need the steady and reliable income for making today’s ends meet.
Life is Dynamic
Life is an ever changing process. Change is often a major part of the process, and can be a good thing, though sometimes it isn’t. For example, personal injury settlements can help pay for medical expense that were the result of your injury. But what if you have permanently lost your means of support after the injury? What if you have significant debt and are now facing daily calls from the bill collectors? When these situations arise, monthly payments may not be enough to change your situation, and a larger lump sum of cash is what is needed to rectify your problem.
Using your Settlement to Meet Your Needs
Once your case is settled, and your settlement terms are set up and agreed upon, you’re stuck with it. You can’t go back and change your terms to meet the rising costs and changing needs you are faced with today. However, there is an alternative; there are companies that will buy your settlement for a lump sum, which you can then use to remedy your situation and help you meet your goals.
A Simple Solution
There are several ways a company can purchase your settlement payments or annuities in order to help you meet your financial needs. For instance, you can sell only a part of your settlement for a small lump sum that can help you through the difficult times. Conversely, you can also sell your entire settlement for an even larger sum, but you will no longer receive any settlement payments after that. Even though your payments will no longer be coming, you can get the most money possible in this way, which can go a long way toward solving your money problems.
This can be a simple and easy solution, but it isn’t that simple. In order to get the best deal possible, you should work with a reputable broker, who can guide you through the process and help you make the best financial decisions concerning your settlement. A skilled and competent broker can introduce you to the best companies for buying settlements, and help you get the help you need to make a positive change, no matter what your situation is.