There are many different types of annuities. However, the most common is the structured settlement.
A civil lawsuit is a court-based process through which one party seeks to hold another party liable for some type of harm or wrongful act.
Civil lawsuits can be brought over a contract dispute, a residential eviction after a broken lease, and injuries sustained through another party’s action or inaction, such as a car accident, slip and fall accidents, or medical malpractice.
Unlike in a criminal case, a civil lawsuit seeks to restore justice by compelling the person or company at fault to compensate the injured party directly.
Therefore, if you win a civil lawsuit, you will likely be offered an amount of money. The amount to be paid can be negotiated between the parties in an out-of-court settlement. However, if it goes to trial, the court will determine the amount to be paid.
The settlement amount can either be paid as one single lump sum but is more likely to be awarded in the form of a structured settlement.
In a structured settlement, the amount awarded to the injured party is divided into payments over several months or years.
Once all parties have agreed to the structured settlement terms, these terms become binding and cannot be renegotiated at a later stage.
The challenge with this approach is that the financial needs of the beneficiary may change over time.
In this case, the beneficiary can choose to sell a portion or all the structured settlement payments to a third party, who will pay a lump sum of cash in return.
Rising Capital has helped hundreds of beneficiaries of structured settlements to restructure payments to provide for their changing financial needs.
If you are the beneficiary of a structured settlement and wish to explore your options, reach out to one of our Account Executives by giving us a call at (866) – 444 – 5061 to discuss your unique situation and how we can help you get access to the cash you need.