Structured Settlement Annuity Is For All Ages

Structured Settlement Annuity Is For All Ages

What is a structured settlement annuity? This is a settlement that may occur from the action of a lawsuit that may occur or some other form of legal action.
There are all types of ways that one may have legal action against them such as from a wreck or car accident, not paying your bills, not paying a lease or worse from negligence. A structured settlement annuity can be settled in one large payment or multiple small ones which ever is easiest for the one having to pay at the time of the verdict.

There are a lot of different ways to get a structured settlement annuity such as selling it. There are a lot of structured settlement companies that will buy these annuities so the person who the money is owed to can get a settlement instead of small payments. In fact cash for structured settlement is big business.

A lot of people may not like the idea of having payments in one sum, especially if the law suit has kept them from working they are usually behind on bills so they will look into selling the annuity for a lump sum in order to make ends meet.

As with any type of loan or settlement there is always paperwork involved. Once you have decided to sell your annuity you must follow a set of rules or guidelines once these are agreed upon everyone involved must be notified, if everyone in the parties agrees on the selling of the annuity then it has to go before a judge and he has the last say so. If the judge agrees then everything can be settled and the money can be paid out.

There are many advantages that can occur from keeping a structured settlement annuity over selling one such as having a big payment to do as you wish or having small monthly payments that you know are going to be there each month. But as with anything in life there are disadvantages also some people may depend on this monthly check and when it stops coming in they can't seem to handle their bills.