How to get a structured settlement paid out early?
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How to get a structured settlement paid out early?
I have a settlement from when I was younger and payments were set up for when I was 18, 21 and 25. My next payment is when I’m 25 which is 2 years away. Currently I’m in need of financial relief because my husband had surgery and is unable to work and I have two small children and it would help us until he is able to work or get approved for benefits. Is there a way to petition the judge to release the money that’s being held by the insurance company?
Asked on January 17, 2013 under Personal Injury, New York
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
Generally speaking, the terms of the settlement will govern if it can be accessed sooner that originally structured. Some times court intervention may also be an option. Many times people sell their settlement early. It is legal but it will cost you a portion. Please red the terms and call the company and speak with a representative. They should be able to tell you about early access. Good luck.
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