A structured settlement, one which is usually agreed upon by the injured party and the guilty or negligent party, has become a more popular and efficient way for the injured to receive regular compensation. In most developed, industrialized nations, it is becoming increasingly more common for the injured person to forgo the traditional lump-sum offer and opt instead for a structured settlement. A structured settlement is an excellent way for the injured party to receive regular compensation, thereby making it easier to manage a personal budget.
Is It Good for Everyone?
In general, a structured settlement is good for those who have a general idea of what life has in store for them. This does not mean that one needs to be able to predict the future but it is best for those that do not foresee themselves making any major purchases or moves within the time-frame of the structured settlement. There are some individuals, however, that for various reasons, may need to make some major changes in their lives that require a certain amount of resources. If this is the case for you then it may be time to contact a settlement funding company to see if there is an option for structured settlement funding. If you are currently receiving a structured settlement (regular, court-mandated payments) but do not feel that it suits your current economic needs then there are options available for you. This may be especially helpful for those that might want some of the extra money from your settlement to make a needed purchase (such as your children’s education) or pay down a debt.
Restructuring Your Settlement
If your structured settlement is not currently providing you with the resources you need or if you need to quicken your payments, then a settlement funding company offering structured settlement funding can help you in a variety of ways. If you are looking to buy new property but your current schedule of payments won’t allow for it, then restructuring your settlement with a settlement funding company may be your best option. In the event that you decided upon a structured settlement but realized later that you need the lump sum (to buy a house, for example) then speaking with a settlement company about settlement funding may help you to buy that house or car that you’ve had your eye upon.
There are plenty of options available to you regarding your structured settlement. If you would like to speak to someone about restructuring your settlement then contact the professionals at Resolution Funding by going to.
