How to get a lump sum from a structured settlement?
Almost every structured settlement has a lump sum value. Various settlements are more easily transferable, and will be worth more money. However, in general, your structured settlement should be seen as an asset that can aid you if you are in need of help with a debt, medical emergency, or getting the money to go back to school.
The steps to getting cash for your settlement will include finding a qualified buyer, and signing a contract with them. You will be given a “cooling off” period, from which you can cancel the contract if you change your mind. Once a hearing is set, you will appear before a judge and explain your reasons for needing the lump sum.
If the judge agrees with your plea, and agrees that you are getting a reasonable lump sum, you're request will be accepted. At this point, the holder of your current policy will be informed that they will need to transfer the payments to the buyer. Once this has been processed, your lump sum will be transferred to the bank of your choice.