Why a Buyer of Structured Settlement Annuity, Part I
- This was posted on August 14, 2009
When I first got my structured settlement two years ago I considered it an absolutely critical part of simply getting by week to week. I had been injured in an accident that occurred at work and there was no way that I was able to go back to my job. In fact, there was no way that I was able to go back to any job as I spent much of an entire year recuperating. In the beginning the payments coming to me from the structured settlement – the money that was given to me in an out of court settlement – just helped me pay my bills and live my life. It was the only thing that I had to keep me afloat. Now, two years later, I am back to work at another job and while I still have physical problems to deal with as a result of my accident I am in a much better physical place than I was after it first happened.
Being back to work made the money coming in from my structured settlement seem stagnant. It was helpful for sure but I just felt like it could be put to better use. In fact, I had wanted to buy a home for some time and now with a steady job I was able to handle a mortgage; it was the down payment that had me stumped. But if I chose to sell annuity payments then I would have the lump sum of cash that I needed on hand for my down payment.
So how does a buyer of structured settlement fit into all of this? When you sell annuity payments you need to work with a buyer of structured settlement annuity payments who will broker the deal and essentially purchase your right to future payments. This would be what would help me buy a home. More to come…
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