Decision to Sell Annuity Payments: Money in My Pocket, Part I
- This was posted on May 24, 2009
There’s nothing worse than needing money in your pocket and not having it at your disposal; even worse when there is money that is yours – that is out there and available to you in some regard – but you are unable to use it at your discretion or in the manner that will be the most helpful to you.
This is often what many people feel like when they have a structured settlement – a financial arrangement that comes when money is awarded in a personal injury settlement. Those involved in such a case – as claimants who have suffered injuries – may be given a financial award. But it is not a given that all of this money will be given to them all at once. In many cases, when the case is settled and money is involved, those who are awarded money are given a structured settlement. A structured settlement means that the money awarded the claimant is deposited into an annuity that is held by a third party. The money is then distributed through equal and scheduled payments to the claimant.
Payments that come from a structured settlement are certainly helpful in many cases but when money is needed in hand – more money than comes from an annuity payment – the payments can be downright inadequate. This is what happened to me and what made me explore the possibility to sell annuity payments and take control of my own money in the way that was most fitting for my situation.
My structured settlement had long been beneficial to me in the form of frequent payments but when I needed a larger sum of money than I was getting through my payments I felt frustrated and powerless to access my own money. So I sought out a buyer of structured settlement annuity payments. More in the next post…
Popularity: 25% [?]