Structured settlements have their benefits but also carry with them significant drawbacks. When it comes to getting by with a structured settlement, getting funding can be your best option to ease any potential financial burdens that have come your way.
The reason why structured settlements exist is primarily to prevent young people from spending all of their settlement money quickly. This is referred to as the lottery winner scenario. Typically with lottery winners, once they get a large sum of money quickly, they spend it all very fast and make questionable financial decisions. Young people who get personal injury settlements, typically minors, get structured settlements to ensure that their money is given to them in a secure fashion to ensure that it gets spent properly.
However, despite its noble intentions, structured settlements and their slow payouts can be a burden. When you can’t get the money that you deserve, structured settlement funding is there to help. Silver Dollar Financial provides those living in Alpharetta structured settlement funding with an easy application process. Getting injured and not receiving the settlement you are entitled to can be strenuous to you, your family, and your loved ones. We are built on compassion and aim to help you every step of the way. Contact us at (844) 871-0628, and we will help you get started.
Defining What a Structured Settlement Is
According to 26 U.S.C. 104 structured settlements are tax-free payments of the settlement you won in court paid to you over a fixed period of time. Structured settlement payouts are often determined by how much you won in your settlement and other factors. More often than not, these payments do not provide you with money fast enough to do anything meaningful with it.
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Pros and Cons of Structured Settlements
As mentioned previously, structured settlements help control the spending of your money. You do not have to worry about mismanagement of funds when you get a pre-set amount of money every month. If you get a large settlement, there will often be others who will try to nag you to give them some money. Structured settlements can be beneficial in preventing others from trying to seek you out for money.
One of the major concerns with structured settlements is that they are slow and small. Getting payments that trickle in once a month does not help you clear large expenses or pay for things promptly. Getting injured means that you need to spend time properly recovering. Injuries can affect how much money you earn. Serious injuries can even cost you the ability to work at your job.
Settlements exist to help cover those costs quickly so that you can move forward and get back on your feet properly. When payments trickle in, you may have to choose between paying rent or paying for your hospital bill. These choices are not beneficial to you and only beneficial to the insurance companies since they can take their time giving you your settlement.
How Structured Settlement Funding Can Help You
When you are overwhelmed with financial obligations that all need to get paid, structured settlement funding can help you. You can use the funding you receive for any of the following:
- School expenses and tuition fees
- Prescriptions, hospital visits, etc.
- Paying off large bills
- Food, utilities, rent, mortgage, etc.
- Purchasing a new home or vehicle
- Repairing property damage or a vehicle
The funds are available for you to spend as you wish. Structured settlements are similar to a loan, but not really a loan. Instead of borrowing money from a bank, you instead borrow money from yourself like a cash advance. Use the money as you wish and pay back whatever you used with the structured settlement payments that you get.
When you apply for structured settlement funding with Silver Dollar Financial, we will not do an employment check, credit check, or ask for your income amount. All that matters to us is the details of your case. Applying for structured settlement funding is very simple.
Structured Settlement Funding Application Process
The process to apply is made straightforward. There are three easy steps to follow:
- Apply for funding online or over the phone. You will need to tell us your information, your lawyer’s information, details of your personal injury case, and how much money you need.
- The Silver Dollar Financial team will review your application. Additional information may be requested from you or your lawyer.
- If you are approved, you will receive your funding and can use it as you wish.
You can be approved for up to $100,000 of funding. Financial matters are often on a deadline, so we work hard to review your case in a timely manner. The whole approval process and transfer of funds can take place in as little as 24 hours.
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Apply for Structured Settlement Funding in Alpharetta Today
While there are benefits to structured settlements, they can be more harmful than they are beneficial. If you feel stuck with the small stream of money from your settlement, then structured settlement funding is the solution for you. If you need to make payments or put the money you won to good use, consider getting funding to help accomplish your financial goals.
Silver Dollar Financial will help you every step of the way. We are honest and transparent with everything we do. We have years of experience assisting people to get the money they need before, during, or after trial. Call us today at (844) 871-0628. We are available 24/7, 365 days a year.