Animated dogs, opera singers and baseball players: Why do they need cash now?

Editor’s note:  This is a guest post from Dawn, the Creative Director/Web Marketer for Rescue Capital.  She has worked within the financial industry for several years at J.P. Morgan Chase and J.G. Wentworth to name a few. Dawn holds a B.A. in Advertising/Journalism from Temple University as well as a M.S. in Information Technology from Wilmington University. In addition, she has written for Smart Business Now Magazine, PDAMart and ThinkMobile.com.

You may have seen the commercials on TV of operas, animated dogs, baseball players and the alike talking about their need to get cash from their structured settlement. Perhaps you’ve wondered what is structured settlement and why do people need cash now? So I thought I would give you a quick overview of this transaction and why someone would want to sell their stream of payments for a cash lump sum.

A structured settlement is money awarded by the courts as a result of a lawsuit. The payments are paid over a fixed period of time or over the recipient’s lifetime. Some settlements may include a portion of the money to be paid as a lump sum payment, while others only offer periodic payments.

Structured settlements are often awarded to:

  • People with temporary or permanent disabilities
  • Guardianship cases involving minors or persons found to be incompetent and workers compensation cases
  • Wrongful death cases where the survivors need monthly or annual income
  • Severe injury with long-term needs for medical care, living expenses and family support

There are a variety of reasons why a person may decide to sell their structured settlement payments for a cash lump sum including

  • Financial difficulty such as debt or pending foreclosure
  • Loss of a job or other income
  • Health issues
  • Medical bills
  • To start a business
  • Re-invest their money
  • Down payment on a house
  • Purchase a car
  • Pay for schooling
  • Some people may even use the money for travel

Regardless of their reason, the underlining factor is that these people find having a small stream of payments isn’t as flexible as having a cash lump sum that they can use how and when they see fit.

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    Structured settlements has various benefits and now this become business for some people. The income of Structured settlements are most of time is for long time and tax free.

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