How Structured Settlement Payments Work

Once a lawsuit has been finalized and both sides have agreed on a structured settlement, the actual administration of the money is usually turned over to a third party. That way the victim does not have to directly badger the company at fault to find out where their checks are. The third party is responsible for getting the money from the company, and handing it over to the victim at the arranged times.

Usually a structured settlement is set up with monthly checks to be sent to the victim - but this of course can vary depending on how you write up the agreement. Usually there is some sort of a clause in there for one-time withdrawls that are larger, for set reasons. For example, if your back was broken and you needed a motorized wheelchair, they might let you make a one time withdrawl to get that item - because then you would be using it for the rest of your recovery.

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NOTE: I am not a lawyer or doctor, please always talk to professional advisors to get personal advice on your situation.

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