When searching for remedies for financial problems, obtaining a structured settlement loan is often overlooked. With a structured settlement, the person receives a small amounts of money monthly or quarterly for a long period of time, often a decade or more. A structured settlement loan allows the person to obtain a considerable amount of money all at once and repay it over time with the future payments from the structured settlement. Even those with bad credit can qualify since the loan is secured by the future structured settlement payments, not by the borrower’s past repayment history.
There are a number of good reasons to take CIYA structured settlement loans against your settlement. Paying off high interest debt is the most common reason cited for obtaining these loans. Paying college costs, obtaining a down payment for a home, or purchasing investment property are other reasons typically given as the reason for seeking out structured settlement loans. Whatever the reason, if you need a significant amount of money within a short period of time, these loans are one of the easiest ways to get it. Verification that you are due the payments that you are claiming is typically all that is needed to obtain this type of loan.
It is not difficult to get a structured settlement loan if you are already receiving structured settlement payments. The best structured settlement loan companies will have representatives available online and on the phone to answer any questions you may have. These representatives will explain to you how the process works and what information you will need to provide for an accurate quote from their company. Different companies will have different terms, so review any information you receive carefully before determining which company has the best terms for your needs.
Most structured settlement loans are made on a short-term basis, often repaid back from the structured settlement payments within a couple of years of the loan being made. This limits the amount of interest charged on the loan and allows the resumption of full settlement payments to be made to the borrower after the loan has been repaid. Some people believe that this is a more responsible financial move than selling their settlement payments outright for a lump sum of cash and paying significant fees to the company purchasing their future payments.
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