You might have received structured settlements for personal injury or any such wrongdoings by the defendant. Finally, you are through with the legal procedures regarding your annuity contract and ready to start collecting your payments.
But what if you can get all the future payments today and make a better decision regarding them?
In such cases, additional assistance from companies like StructuredSettlement Marketplace proves to be a savior. These firms assist the client in numerous stages of their settlements. In this article, you will discover how the company helps you and in what ways.
What are structured settlements?
Understanding structured settlements, also known as periodical payments, is not rocket science. In simple words, it refers to the long-term financial support a plaintiff gets from the defendant.
Civil lawsuits usually end up with an individual or an enterprise paying money to another person. It can be due to any wrongdoing and then later reimbursing for their faults.
The most common settlement cases are:
- Personal injury
- A worker’s compensation
- Medical malpractice
- Death of a family member
Generally, defendants mutually agree to pay for their doings. However, in some cases, losing a civil case is the only option.
How do these work?
You can get the advantages of legal settlements in two methods. The first option is to receive a one-time lump-sum amount. The second option refers to getting a long-time structured settlement with periodic payments for financial security.
Although the former seems like a better choice, it deprives you of financial security in the long run. Moreover, the plaintiff might end up using the money too soon than anticipated.
Not only this but any interest and dividend received from the lump-sum settlement will go straight to the taxes. On the contrary, interest, and taxes in structured settlements will be deemed tax-free.
Buy/sell structured settlements with StructuredSettlement Marketplace
Periodic settlements make sense for many people if you have car payments or home loans. But since these contracts are usually in the plaintiff’s favor, defendants have the right to decide the plan that suits their financial condition.
It is when companies like StructuredSettlement Marketplace play a crucial role. It helps clients to make better decisions about their settlements. Moreover, you can get a detailed analysis of the selling/buying process and how everything works.
Selling a structured settlement can be tricky and risky if you do not have a reliable ally on your side. Not to forget the pesky process of getting approval from the magistrate and more such stuff. Furthermore, no one is aware of the different ways of selling settlements. And what about the interest and taxes?
Did you read how complicated things can get?
Fortunately, StructuredSettlement Marketplace goes to great lengths and makes things easy than before. Most importantly, you can request an estimate of your settlements by filling a form on their website.
In this way, you can get the best value without getting scammed or losing any percentage of your belongings.