What If Structured Settlements Did Not Exist

By: Lance Winslow
Submitted: 2007-01-17 16:16:43
Print this article | Tell a friend | For publisher | Social Bookmarking
Rating:
 

We have all heard of the people who win the lottery and they are broke within a few years? It is amazing really how unfortunate this really is. In fact it is all too common. Did you know that this is the very reason for structured settlements in lawsuits to help the person awarded the settlement a payment over time, so they can exist without blowing all their money. Of course this may not be such a good idea if the person is trying to buy a house and cannot come up with the down payment or needs the money for an operation or medical care for their mother.

So often what appears to be a fair structured settlement for both a company, which does not want to write of a huge loss in one particular quarter and the fact that often people blow their money; turns out to be really problematic down the road. Luckily there are folks, which will give the recipient of the structured settlement money now in cash and receive the money as it comes in from the payee or company.

This can be good for many reasons including the ones mentioned above, the person giving the cash of course is doing so to also make money and they will give the person less money than the total settlement but accept the payments over a long period of time. But what if Structured Settlements did not exist? Well the awards would be less as few companies could afford to settle out of court, more companies might be bankrupt from lawsuits and people might spend all their money and be broke in a few years anyway. Think on this.

Lance Winslow

Article source: Expert Articles

Most Recent Articles in Structured Settlements category