Selling Structured Settlements For Undisclosed Amounts
I was asking a friend who recently sold his structured settlement for a lump sum. I knew how much the original judgment was and could not get him to tell me about how much he did sell structured settlement payments for. I figured that he must have either taken a big hit, or got more than what any of us could ever imagine having at one time.
He was awarded the structured settlement after he was hit by a city bus. It took him four years and lots of lawyer fees, to get them to settle, but they finally did. He was to receive a certain amount, every two years for the next ten years. He had so many doctor bills and lawyer fees that he thought that if he were to sell structured settlement payments for a sum of money now, he could pay all of that off and still have enough left over to live off of for a while.
I think it will take a while for him to tell me how much it is, if he ever does. I tried to find out from his mother and she said that he will not even tell her how much he settled it all for. She does know that he was able to pay off the lawyers though and that is good to know.