1. Can structured settlements be considered as collateral for a loan?
It is not considered a direct form of collateral, but many banks will accept it as a form
of income which will be helpful when making large purchases such as a new home.
2. Wht is a structured insurance settlement?
A structured insurance settlement pays the person who has won the lawsuit settlement over a period of time, instead of just paying the person in one large lump sum.
3. Will I receive interest on money I get from a structured settlement?
The interest that you get from your financial settlement includes any interest that you
would get from the settlement, and that is considered by the IRS tax-free.
If you are involved in a wrongful injury case and will receive a structured settlement,
sit down and ask your attorney informed questions. Make sure that you understand the
answers and are completely satisfied with the choices that are presented to you.
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