How can a beneficiary of a structured settlement recieve payment in one lump sum?

Get Legal Help Today

 Secured with SHA-256 Encryption

How can a beneficiary of a structured settlement recieve payment in one lump sum?

I was told we have to continue with the monthly payment set up by the deceased.

Asked on November 6, 2012 under Insurance Law, Pennsylvania

Answers:

MD, Member, California Bar / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

You can attempt to renegotiate this debt with the estate or sell what is owed to you to a company who would give you a majority percentage of what is owed to you and then basically will then own the debt and collect the payments on a structure basis itself.  At the point of selling the debt owed to you, you would be compensated for most of what is owed to you.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

 Secured with SHA-256 Encryption