What Is A Structured Settlement Payment?

Need extra cash

Have you considered a structured settlement after receiving money from a lottery winning or the result of a lawsuit? Do you have student loans you’re attempting to pay off or a car you’ve been trying to save up for with no luck? Consider getting approved for settlement cash. Cash for settlement options are an effective and increasingly popular means of getting the money you need in a timely fashion, helping you better eliminate debt and bolster your savings account.

History Of Structured Settlements

Structured settlements are far from a new financial solution. In fact, the very concept first emerged in the 1950’s and 1960’s, evolving from long-term security tax acts into a lucrative cash option for a wide variety of people. The Structured Settlement Protection Act was later established in the 80’s to provide a legal foundation for people getting their start with settlement payments and lump sums. The only states not covered under this act are New Hampshire, Wisconsin and Washington, D.C.

Cash Management In America

It’s estimated that a whopping 27% of Americans have no savings money in their bank accounts. Less than one out of four Americans have enough cash in their savings to cover six months of expenses, such as rent and food, and around 76% of Americans live paycheck-to-paycheck. Credit card debt is one of the leading causes of money management issues, followed closely by medical bills and student loans.

What Is Cash For A Settlement?

A structured settlement works much like a form of insurance, providing a certain amount of money over a period of time often in response to a legal claim, lottery winning or lawsuit. Structured settlements are useful to help you receive the money you need gradually, while lump sums are often sold in totality for a single price. It takes an average of 45 days to receive the money sold from a structured settlement, which can then be put toward that house you’re saving up for or those medical bills you need to pay off. Look into becoming approved for pre-settlement cash to get your life moving in the direction you deserve.

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