Structured Settlement Buyouts

Jun 07, 2010

Structured Settlement Buyouts

Winning a case that you’ve been fighting for some time can be exhilarating. It’s a wonderful thing to sit in a court room, or at your home or lawyer’s office, and to be told that you have won the case. This means that you will be receiving the settlement that you are entitled to and that you’ll be able to take care of the bills that have piled up during the lawsuit and the incident that propelled the suit itself. Most people expect the money to come pouring into their bank account almost instantaneously.

Dealing with a Different Reality

Unfortunately this doesn’t happen in most cases. When you’re dealing with a settlement from a lawsuit, the funds tend to trickle in like a drippy faucet, not flood in like bath water. This can be extremely frustrating for people who have been eagerly anticipating the money in their bank account, and it can be even more difficult for those who have accrued bills during the time that they were waiting for the lawsuit to be over.
The answer for those people who are waiting for a settlement but who need to have access to more of it than they’re currently receiving is a buyout. A buyout is sometimes called a structured settlement, and it’s likely that you’ve seen a number of television commercials that delight in regaling you with the tales of how a structured settlement can help you to pay off all of your bills.

Beware of Television?

The commercials make a structured settlement sound like a walk in the park, but is it really? This is actually one instance in which you can trust a commercial, or at least the idea behind it. A buyout is a legal option that has been part of the collective legal consciousness for some time, but has only increased in popularity in the last twenty years or so. Being involved in a buyout means that you may be able to have part of the money that is due to you from the settlement immediately placed into your bank account.
The trick is in finding a reliable structured settlement company. There are many out there, so make sure that you do your homework on the companies before you select one. One good tip is to select a company that not only deals in structured settlements, but one that also deals in lawsuit funding, as they have a great deal of experience in dealing with the legal end of these types of issues and are often the best equipped to help you to get the money that you need when you need it.
Remember that there are expenses that you will have to consider when you have a structured settlement, and you don’t have to do a full buyout. You can do a partial payment, which may help you to get the money that you need today while still allowing you to receive some of your settlement later on, giving you the best of both worlds, or at least as good as it gets legally.