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How Structured Settlement Can Help You Reach Your Financial Goals

Structured settlements are fairly common nowadays. Some people even prefer it over getting a lump sum. But did you know that certain situations can make your structured settlement less ideal?  Let me tell you an example.

Megan was just 13 years old when she got into a horrible accident. She was just about to cross the road when suddenly, an inattentive driver accidentally hit her on the side. Megan was taken to the hospital and was bound to a wheelchair for months.

Her parents, not wanting to stress her any further, decided to take the structured settlement deal that the driver offered to avoid a lawsuit. Using the money stream from the structured settlement, Megan was able to pay for all the medication and therapy she needed.

After years of physical therapy, Megan is able to walk with a crutch and is now about to graduate from university. However, her mind is wondering how she can pay off her student loan with just the compensation she gets from the structured settlement given that her disability is making it harder for her to find a stable job.

So, this leads us to the question – what should Megan do?

To answer this we need to define first what structured settlement is.

What is structured settlement?

In the event of a personal injury, some civil cases reach an agreement for the plaintiff to drop the lawsuit in exchange for money from the defendant. This compensation can be paid in cash all at once or structured, which is payment spread over a period of time.

Structured settlement can be a good deal since the stream of money can be predictable and continuous. However, the economy changes over time and in cases such Megan’s, certain aspects in one’s life change. These can make the original structured settlement payments not enough to cover your current expense.

Megan knew that she needed money soon or else her debt will just get bigger. She began looking into selling her structured settlement.

Can you sell your structured settlement?

The short answer is yes. Many people who are receiving structured settlement payments have looked into selling because of various valid reasons. Some of these are:

  • Buying a Home
  • Paying off debt
  • Fund education
  • Investment
  • Divorce

And a lot of them have been successful in selling some or all of their structured settlement in exchange for a lump sum. Besides, it is not really that difficult to sell and normally just takes a few days to get the money.

But before you commit to selling your structured settlement, make sure that you know how it will affect your future finances. Once you’ve weighed all the pros and cons, and you still decide that it is the best path, here are the steps that you should take.

  • See which company can offer you the best deal
  • Process the paperwork with your chosen company
  • Go to court and have a judge approve the sale
  • Get the money

Megan knew that selling her structured settlement will ensure a future that is free of debt. However, she knew that choosing a company that has her best interest will take some time.

Trusted Companies Selling Structured Settlements

If like Megan, you have no clue on what to look for when it comes to choosing which company to sell your structured settlement to, here’s a list of trusted companies.

JG Wentworth

This is the most recognized company when it comes to structured settlement payment purchasing. They had been purchasing since 1991 and is accredited by the Better Business Bureau (BBB). JG Wentworth has excellent customer service and has a very informational website that will help answer most of your structure settlement payment questions.


This is the second largest structure settlement payment purchasing company. They have helped thousands of people make the most out of their money and achieve their financial goals. Check out their website and see how they can help you.


This is a company that takes a personalized approach when it comes to their customers’ needs. They are committed in providing the best customer service and was even given an A+ rating by the BBB. See if the can help you with your long term financial goals through their website.

By selling her structured settlement, Megan is now on her way to reaching her financial goals of being free of debt from her student loan. If you need more advise on structured settlement, feel free to contact us.