Hard-Pressed for Cash? Get Cash for Structured Settlement Payments

Want to get cash for structured settlement payments? Although you can't change your settlement structure, you can sell your payments for a cash lump sum

Did you think about getting cash for structured settlement payments that are set to be paid out in the future?

If you entered into a structured settlement agreement as a result of a personal injury, the future payments plan is effectively locked and can not be altered in any way.

You can not...

• Withdraw any payment or amount of money earlier than the pre-set date
• Change the amount of the periodic payments (how much to get in a payment)
• Change the future payment structure (when to get the payments)

What if you need cash now...

What if you find yourself in a situation being hard pressed for a larger sum of money, but have no other financial source to get the needed funds from?

Let's say you....

• Find yourself into deep financial trouble, facing mounting debts, unable to pay your dues
• Have been laid off your job and can't pay your groceries
• Are facing an eviction, threatened to be thrown out of your apartment because you can't pay your rent
• Have to renovate your house or buy a new home
• Are in need of a new car
• Think about making a good investment, but can't get a loan because of bad credit
• Want to pay your son't college tuition
• Save your home from going on foreclosure for not paying the mortgage
• Have a financial or medical emergency or struggling to pay medical expenses
• Or otherwise in need of immediate cash you don't know where to get from

Unfortunately, your structured settlement may not be of much help now since the money is "locked" and inaccessible, and you can't change the payments schedule and get your money before the payout dates.

Possible solution: get cash for structured settlement payouts

The good news is that you can still generate money through your structured settlement by selling some of your payments and get cash for structured settlement payments.

You can (in many cases) sell your settlement payment rights, or just some or parts of the payments, to a third party in exchange of an agreed upon amount of cash that will be paid to you within a relatively short time frame, so that you can use the money to fund your current needs.

(You can't sell your structured settlement "now," however, as some time has to be allowed for the preparation, process and court hearing that is legally required in order to sell your structured settlement - read more here.)

Ready for a cash out? here's what to do

Are you ready to sell your structured settlement? You'll need to go through the following in order to initiate and complete your settlement payments transfer:

• Decide how much of your settlement money you want to sell
• Contact a reliable structured settlement buying company that will buy out the payment from you and provide the cash lump sum
• Obtain a price quote, how much you'll get in cash for selling your structured payments (shop around if needed), and negotiate a fair deal
• Go through the process of selling your structured settlement payment rights (a court hearing will be needed to approve - or sometimes decline - your structured settlement sale).

Learn more about the process how to sell your structured settlement here.

Why you get less in a cashout

Before you go ahead and sell your structured settlement payments, it is important to understand that you will not get the full amounts of your future payments when trading them in for a cash lump sum now.

In fact, you will get far less in the up-front cash amount than you would have received waiting out the periodic payments.

The reason is because you are trading the benefit of more money [later] for the benefit of immediate money access.

Thus, you are paying a price for getting cash for structured settlement payments now rather than getting your money at a later time.

The price is the difference between what you get in the current lumpsum payout and the value of your future payments. This is the amount you "pay" (or "lose") in the transfer deal.

More specifically, you are getting less in cash for structured settlement payments now, because of...

• The Time Value of Money - money now is more worth than later (so, if you get it now, you get less)
• You pay a price for liquidity (access to money that can be used as opposed to the future funds that are now locked to you and "frozen") 
• The structured settlement buying company has to profit in the deal too - or why in the world would anyone give you cash now and agree to receive your payments later instead
• The Need to cover legal and administrative expenses that are involved in the structured settlement payment rights transfer

Read also:

Seeking Independent Professional Advice on selling your structured settlement

Can you sell parts of structured settlement payments?

Selling partial payments to a Servicing structured settlement purchaser

1. Sell Structured Settlement
 ›
2. Cash Out

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