Hi everyone. J.G. Wentworth here.
I think it’s important that folks realize that theirstructured settlement payments are an asset, not just a string of payments from an insurance company. Like all assets, they can and should be used in whatever way that benefits the owner most.
One of our customers, Paul W. of South Bend Indiana, is a great example of using his structured settlement payments as an asset. A few years ago Paul’s car was side swiped by a dairy truck and it ended his career as a bricklayer. The structured settlement he received from the accident really helped out. He bought a house for his family, and then used the regular payments to supplement his wife’s income so he could stay home and look after their kids. For Paul and his wife it was a new life, and in many ways a better one.
But when medical bills began to pile up, Paul needed help. He didn’t sell all his payments, just a small part of each one for several years, so he could get a lump sum of cash immediately. With his wife’s income and almost all of his regular payment intact, Paul’s family took the extra medical expenses in stride.
So, in the end, Paul payments – his asset – did double duty by providing him with the cash he needed to get rid of his medical expenses and the income he needed to keep his new life on track.