I receive a structured settlement for medical malpractice. I was wondering if there is anyway I could get money out of it? I don't want to sell it to companies such as J.G Wentworth. I want to continue my monthly checks for the settlement..I just need a little extra cash for medical issues. Is there anyway of doing this without having to sell it?
This topic has been discussed in this forum before. You may be able to sell in interest in the structure; although, candidly I'm not sure.Structures, as you seem to understand and appreciate, should only be invaded (sold) in extreme circumstances. You will pay a hefty premium with Wentworth (and most companies). There are a few, mostly smaller, that are more reasonable. Ask your attorney or email me. Again, be careful.
There are plenty of companies who will purchase a structured settlement. It requires judicial approval under the General Obligations Law. Consult with your lawyer to see if there is an option and what the costs are.
There are instances when a sale of a structured settlement could yield benefits. Obvioulsy, there are costs associated with the sale because you will be giving up your future rights for a percentage.