Structured Settlement Funding Options: When You Need Cash Most

Alexander Popovich | February 26th, 2013

Structured Settlement FundingWhen someone settles a lawsuit for a significant amount of money, that person may have the option of choosing between a lump sum and structured settlement funding. A lump sum is a one-time payment of the entire settlement amount. In a structured settlement, the plaintiff receives regular installment payments. There are several advantages and disadvantages to choosing a structured settlement over a lump sum payment.

Advantages and disadvantages of structured settlements

The major benefit of choosing a structured settlement is that the payments you receive are tax-free, so more money ends up in your hands. You may also set up a payment schedule that meets your needs. Instead of accepting the same amount of money each month, you can negotiate larger payments during certain months. Another advantage of choosing this type of settlement is that you will receive regular income on a long-term basis.

The major disadvantage of choosing a structured settlement is that you will receive smaller monthly payments instead of one large payment. If you want to use the settlement money to pay medical bills, buy a new home, or purchase an expensive item, a lump sum might be the best option. Another disadvantage is that you cannot change the terms of a settlement once you have agreed to those terms.

Structured settlement funding options

If you settled a legal case and decided to receive periodic structured settlement payments, you may find yourself in need of cash to pay medical bills or household expenses. If this is the case, you may be able to sell structured settlement payments for cash or get a cash advance on your settlement. The money in the settlement is yours, so you should be able to spend it as you wish. Loans and cash advances make it possible to get cash when you need it instead of waiting for your settlement payment to arrive. These options are helpful in an emergency, especially if you must pay for unexpected medical expenses or a large repair bill that you did not anticipate.

Selling your structured settlement

If you are interested in getting a cash for structured settlements, LawStreet Capital simplifies the process and makes it easy to get the cash you need. All you have to do is complete an application. There is no application fee, and you are under no obligation to accept a structured settlement loan if you are approved. Once you apply, a representative from LawStreet Capital contacts your attorney. In most cases, approval is made within 24 hours. You do not need to verify your income or go through a credit check to receive an advance, making this process quick and easy. LawStreet capital charges competitive interest rates that are in line with those of other legal funding companies, helping to ensure you get the most cash from your settlement. Funds are available via electronic deposit into a checking account or by check sent via overnight mail. To learn more about structured settlement funding, call one of our helpful representatives today at: 800-345-8500.