What is Structured Settlement Factoring
Most often, individuals receiving annuity settlement payments count on these payments as part of their livelihood, so the thought of selling any part of their annuity is not considered an option. However, life situations change, and sometimes selling structured settlement payments becomes a very viable option.
The name itself — structured settlement factoring –is a little intimidating. But it isn’t as complicated as it sounds. Here are the basics of structured settlement factoring.
Structured Settlement Factoring Basics
Structured settlement factoring means selling a portion or all of future payments within a structured settlement. You, “the seller”, take a lump sum payment now and transfer ownership of those payments to the “buyer”, who collects the payments on their original settlement dates.
Advantages of Structured Settlement Factoring
People have many reasons for selling all or part of their annuity now.
The number one reason is that they are in dire need for money to avoid a financial crisis. Or perhaps there is an uninsured family member who really needs some rare and expensive treatment, and time won’t wait. Maybe they are stuck in a dead end job and getting a larger sum of money now will allow them the opportunity to continue their education or start a new business.
Essentially, you need to consider the option that best fits your current financial situation: wait for your future payments to come in their own time, but collect their full value; or gain access to a lump sum payment now, though less than the sum total of the payments if you waited years, even decades to collect them.
Contact a Structured Settlement Company Today
Will the money you receive now in a lump sum payment make your life better overall? There is only one person who can fully make that decision, and that is you.
If you need cash soon, structured settlement factoring is likely the right move for you. You can get a free quote today from Woodbridge Structured Funding, LLC, and talk to an adviser about the best course of action for you. Simply call us at 1-866-865-7044!