How to Purchase Structured Settlements
Fri, Aug 28, 2009
What are Structured Settlements?
Sometimes when you can`t pay for the mortgage, the bank take a suit against you. So what option you have? To release your home or to choose paying the settlement over time. The second option is called a structured settlement. Structured settlement are created by third part, providing the money.
Benefits of a Structured Settlement
One of the benefits is avoid the tax – they can reduce the plaintiff’s tax obligations as a result of the settlement, and in some cases be tax-free. Structured settlements can protect funds, reserving it for the future needs.
But people find some demerit – they feel in trap by the payments, because they can`t have entire disposal with their money, so they can`t buy something big.
How to Purchase Structured Settlements
If you want to purchase settlements you may need to get a judge to approve the buyout. You must consult with a lawyer for the complications. There are some rules for your protection:
- You must work with an established broker, who deals with private investors
- You need to find structured settlement company, member of National Structured Settlements Trade Association.
- Get offers from more than one company to ensure you get the best deal.
- Retain an attorney to review the agreement to ensure your interests are protected.
Tags: funds, money, mortgage, National Structured Settlements Trade Association, purchase structured settlements, settlement, structured settlements, tax obligations
August 28th, 2009 at 9:45 am
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