How Does Structured Settlement Funding Work?
Most personal injury cases result in a settlement reached between the injured person and the at-fault party rather than a jury award, since most personal injury claims do not go all the way to court. Unfortunately for the injured person, structured settlements have become increasingly common since the passage of the Periodic Payment Settlement Tax Act of 1982. In a structured settlement, the at-fault party pays the required compensation to the injured person in small chunks over time rather than in one lump sum. For many injured people, this means that they are left with mounting bills as their rightful compensation trickles in.
Structured settlement funding is a way for injured people to take control of their financial situation now. By turning to Silver Dollar Financial, you can get the full value of your settlement, up to $100,000, in your bank account right now as you wait for the smaller periodic payments to come in. Then, you pay your structured settlement loan back as you receive compensation from the other party.
Structured Settlement Funding Offers Control of Your Finances
Structured or periodic payment settlements are designed to help the at-fault party, as they may be unable to pay the full amount of the compensation owed in one lump sum. However, your expenses as an injured person often do not wait for convenient times. For example, you can face significant losses because of the damages you suffered in your accident, including some of the following:
- Healthcare costs
- Lost wages
- Emotional suffering
- Car repair or replacement expenses after an auto accident
- Medical equipment you need to install in your home because of your injury
Getting structured settlement funding and enjoying your money now means that you can be more financially secure and alleviate these expenses as they arise rather than having to wait on a time convenient for the person who injured you.
How Structured Settlement Funding Helps You Feel Compensated
Not all of a settlement is merely about getting money. Yes, you are owed significant compensation for the harms you suffered. Still, a settlement is also partly about getting justice and holding the at-fault party responsible for their actions or negligence. Often, structured settlements feel “less than” because they are designed to help the paying party. Plus, by not getting all your money at once, you may feel like your story was not heard.
Structured settlement funding gives you the full value of your claim now, increasing your feeling of satisfaction and justice. Also, it makes you less dependent on the at-fault party’s periodic payments, which can be problematic and may seem like the party who injured you still is in control.
Time Waits for No Structured Settlement
Another reason that many injured people who have received a structured settlement turn to a company like Silver Dollar Financial is that structured settlements significantly lengthen the amount of time you must go without proper financial assistance. In Georgia, the statute of limitations on personal injury claims is two years, meaning that your case may not even begin to be negotiated until two years after your injury. Then, negotiations can take months, and a trial can take years before you get the compensation you deserve.
Let’s say you waited patiently throughout the negotiation process for a year or two as your bills stacked up, only to be left with a structured settlement. That means you have to wait even longer to get the full value you need, all while your medical bills and other expenses demand payment.
By getting structured settlement funding from Silver Dollar Financial, you can avoid this extended wait and get your money when you need it.
Getting Your Money Before You Settle
Silver Dollar Financial also provides clients with pre-settlement funding, which is a bit different from structured settlement funding. With pre-settlement loans, you borrow forward from an expected settlement while your case is pending. When compensation comes, you simply pay back the loan and keep whatever is left. That way, you can ease the pressure put on you to settle by the opposing insurance company and work toward the best possible compensation package.
Apply for a Significant Structured Settlement Loan Today
Getting your money when you need it is crucial. After all, you should not have to suffer from financial strain when you are not responsible for your injury. Fill in your information on our Apply Now page to get help from Silver Dollar Financial in as little as 24 hours.