Whether you got hurt in an accident, or simply have a legacy left to you, if it pays out over time you may have a need to get some or all of the money right away.

If you this is the case then a Structured Settlement loan may be the right solution for you. There are many companies that will do this for you, so check with several of them before deciding on one to do business with. The key word here is business because these companies are not there out of the goodness of their hearts. They are there to make a profit so they can pay their own bills.

The first thing to check is how much they will give you for your settlement amount. Structured Settlements work like reverse loans. You get paid on the basis of the amount of the courts award or the legacytrust that was left to you. If you are supposed to get 400,000.00 over 10 years, then they may only give you 350,000.00. But when the checks come out, they go directly to the settlement company, you do not see them, or have to worry about making payments.

If you do not need the money right away, and can live on what you will be getting, then seriously consider just taking the checks as they come to you over time. This way you have the full amount you were promised, and might get to enjoy it a bit more. If you are worried you will not live long enough to get the full settlement, then consider leaving it to a family member who can benefit from it after you are gone.

One thing to think about is that appeals on injury law suits can take a long time and you could wind up with far less of an award that was first decided. If this happens, and you have been cashing out a Structured Settlement you thought you were going to get, then you are on the hook, so to speak, to repay any monies that have already been given to you. This could leave you in an even worse position than you were in to start with. Yes, you may have been able to pay your bills and survive during the time it took the appeals to filed and heard, but if they lower your award, or give you nothing at all, then you could wind up losing your car, home, and other things you did not want to part with. Do your research, and then decide wisely.