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 cant 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, dont be afraid to ask questions if there is something that you dont understand. Make certain that you are satisfied that you understand everything and that everything is clear to you and...
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