faq about structured settlements
FAQ About Structured Settlements March 14th, 2008 When you learn that you are going to receive a structured settlement, a lot of times you have questions about what a structured settlement is. So here are some of the more frequently asked questions about structured settlements. 1. Am I able to put down structured settlements as collateral for a loan? Usually, it can�t be listed as collateral, but one way that it does help is that you can list it as a form of income. This can be very helpful if you are making a big purchase, like a house. 2. What is the definition of a structured settlement? A structured settlement pays the person who has won the settlement over a period of time, instead of just paying all at once. 3. Will I receive interest on money I get from a structured settlement? The interest that you get from a structured settlement includes any interest that you would get from it, and that is tax-free. You will not receive interest from it. If you are going to get a structured settlement, don�t be afraid to ask questions if there is something that you don�t understand. Make certain that you are satisfied that you understand everything and that everything is clear to you and to your attorney. Once the papers are signed, it�s non negotiable and you have to be happy with what you have been given, so it�s a good idea to be clear on all the details. Ask all of the questions that you want to know, and get all of the facts.