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Used A Structured Settlement

Who has used a structured settlement to receive money now instead of the future? Was the structured settlement a good deal? I have a large legal settlement coming due.

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 ---John on 8/3/10
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You can settle your claim of 200,000 for at least 175,000 just by contacting those who will be paying out your claim. Get a bona fide lawyer be careful.
---mima on 8/4/10

John, how are your attorney fees being taken care of and court cost these eat into proceeds?

Don't answer these questions in the blog!!!

Just thing about the points I am bring up. The process from winning a court judgement are not like insurance pay offs they are taxable. And you have to have deductible expenses to off set them that is way you need a Tax Attorney and a Financial Planner so you will actually get something out of the judgement at the end of the process and not have it totally consumed by taxes and legal fees and other expenses. If this is not done right you can end up with less than 10 cents on the dollar.
---Friendly_Blogger on 8/4/10

Thanks for the advice for the structured settlement. Other money helping ideas are welcome.
---John on 8/4/10

Why don't you consider getting a job if you are able so you don't need the money now. In the meantime go get professional advice.
---Alan on 8/4/10

Friendly Blogger,

Despite all your great be it.
---aka.joseph on 8/4/10

Maybe since it is a structured settlement there are no taxes? You know just like a life insurance policy. Maybe I should just wait?
---John on 8/4/10

John, you need the services for a tax attorney and a financial planner.

The settlement company is giving you a much below current value in a short term future cash flow, well in their favor. If your attorney is confident enough that it is only a matter of time and you are in a short term cash crunch try to negotiate a short term loan with a reputable bank or saving institution using a portion the future cash flow as collateral, some one my bite on this one.

If the $200,000 is a one time settlement you are going to loose most of the proceeds to taxes. You need to get the Tax attorney and the financial planner involved in the settlement pay off so that is is spread over a number of years to reduce your short run tax liabilities.
---Friendly_Blogger on 8/4/10

John, you have present too much personal financial date on the Internet. Particularly the magnitude of the settlement and the pay off time frame. People an find out who you are as your as your ISP and and email address went with this the transmissions you made to ChristiaNet all of the information is hackable.

You have potentially set yourself up for Identify theft, a car jacking, a home invasion or scam exploitation or just being mugged.

---Friendly_Blogger on 8/4/10

John....My opinion is if you are trying to get $150,000 quick instead of waiting for the $200,000, then the $150,000 will be gone before you know it. Ask your attorny because you probably have one since you are getting a settlement.
---KarenD on 8/4/10

You said don't give to a TV evangelist. Why? What about Benny Hinn?
---John on 8/4/10

I will be receiving $200,000 for an auto injury, however it could take up to ten months to get the money and I have expenses now. A structured settlement company offered me $150,000 cash now. Since Obama may raise taxes next year, I thought it might be a good idea to take the structured settlement deal. Your thoughts? Do you know any other good structured settlement companies out there, anyone with experience?
---John on 8/4/10

You really need to contact a Tax Attorney and a Licensed Financial Planner You don't neet help from Christianet. You need to be contacting experts for your long term financial planning and that is not going to happen on Christianet. Try contacting the branch manager of a banking or saving institution you are currently dealing with. Above all stay away from Charities and Televangelist. You have the word SUCKER written on your fore head and they will be over joyed to liberate you from any proceeds you might be going to acquire. And if they don't have valid not profit status you still have to pay the full taxes on the proceeds even though you have been ripped off [double whammy].

You need competent help don't be an idiot.
---Friendly_Blogger on 8/4/10

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