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A structured settlement is considered to be an asset, and like personal property, it can be bought or sold by a third party. When a defendant and a plaintiff agree to settle damage claims with a structured settlement compensation agreement, it means that the plaintiff will be receiving a certain amount of money over time, in increments. These payments sometimes will go on for years. If the plaintiff requires a large sum of money during the course of the payouts from the settlement agreement, they may sell that agreement, or part of it, to another party. There are many companies in business who purchase structured settlements. They will offer a large amount of cash in exchange for ownership of the agreement and future payments in full, or in part, until the debt is repaid. For this service and for the risk they take on of not being fully repaid if the defendant defaults on payments, they charge a large fee, similar to interest on a cash advance loan.

What Type of Accident Results in a Personal Injury Lawsuit Structured Settlement?

Personal bodily injuries occur from accidents that happen while people are in vehicles, at work or at play. Thousands of persons receive injuries in slip and fall accidents, or from medical malpractice, defective products, or animal bites. Others discover they have contracted diseases like mesothelioma from previous exposure on their jobs. Each day, innocently injured persons contact their personal injury attorney with hopes of recovering compensation for damages and other claims related to the accidents that have disrupted or ruined their lives.

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