Paula Forhisd

If you sell structured settlement payments, I wonder how much of the actual awarded amount you get. I would think that you are going to take a pretty big hit. The structured settlement payments, are I think, tax free but if you are given a buyout amount, I do not know if you have to pay taxes on that or not.

I have only met one person who had a structured settlement and I do not even know why she had gotten it but she thought that it would be nice to have all of the money now. She looked into how to sell structured settlement payments and found that she would probably not be getting as much as she thought she would. It was not going to be overnight, like she thought and then her soon to be ex-husband would want some too.

I talked her into waiting a year and then pursuing it then. She would be able to keep it all to herself and waiting for a few months for all the paperwork to be properly filed would not seem like that long either. She listened to me and now has seventy five percent of the awarded amount in her savings account.

This entry was posted on Wednesday, April 14th, 2010 at 2:05 pm and is filed under Finance & Insurance. You can subscribe via RSS 2.0 feed to this post's comments. Both comments and pings are currently closed.