Selling Your Structured Settlement Payments in Ohio

 
Although a structured settlement can be a long-term source of income, sometimes, these payments may not be enough to help you meet your current goals. Whether you need more money to pay education bills, finance an exciting life event, make a down payment on a house, or even pursue a business venture, J.G. Wentworth can help you turn future payments from your structured settlement into a lump sum of cash that you can use sooner.

What Is a Structured Settlement?

A structured settlement is an agreed upon schedule of payments, typically awarded after settling a personal injury, medical malpractice, or wrongful death lawsuit. Rather than pay a one-time lump sum payment to the winning party, the two sides can negotiate a structured settlement, or periodic payments, of the funds. However, once the terms of the contract have been decided, it typically becomes impossible to alter. That means that if an event comes up where you need your cash sooner, you will not be able to get it from your settlement. In this case, some people choose to sell some of their payments to get a lump sum of cash.

How Do I Sell My Structured Settlement Payments?

In Ohio and nationwide, structured settlement payment purchases are regulated by law and must meet specific criteria to be approved. The three main criteria that must be met in Ohio for a purchase of your structured settlement payments to be approved are:
 
  1. The purchase, or “transfer,” is in the best interest of you, the payee.
  2. You’ve been advised to seek the opinion of an independent professional.
  3. The purchase doesn’t infringe on any applicable court order or statute.

  

If you wish to sell your structured settlement payments in Ohio, contact one of our representatives. They can explain all of the options available to you.

What Are My Options?


There are three options that you’ll likely be able to choose from when selling your structured settlement payments in Ohio. These are:

 

  • Selling all of your remaining payments - You can receive a lump sum in exchange for all of your future payments. As a result, you’ll stop receiving regular payments from your insurance company.
  • Selling a set number of payments - You can also decide to sell only a few payments in exchange for a one-time sum. These sold payments go to J.G. Wentworth while you keep the rest.
  • Selling a portion of your payments - Another option is to sell a percentage of each of your remaining payments. This allows you to get money sooner from future payments while still receiving regular checks. You’ll get a one-time lump sum from J.G. Wentworth and lower monthly payments moving forward.



The option you choose is entirely up to you, so you can pick the one that helps you best meet your goals. If you decide not to move forward with the sale, you can always contact us at a later time and receive a new quote.

Contact J.G. Wentworth Today

J.G. Wentworth has been helping Ohio residents get money sooner by buying their future structured settlement payments. Learn more about our process and contact us today.


J.G. Wentworth is a purchaser of assets and does not offer legal, tax, or financial advice. Please contact independent professionals for those services.

 

 

Get Cash

Contact Us

Contact one of our representatives today to learn how you can get on the path to achieving your life goals.