Settle This: What Is a Structured Settlement Consultant?

July 17, 2021July 17, 2021 by Nick Jones

Are you familiar with a structured settlement?

This is an arrangement where you receive compensation for a wrongful injury or illness not caused by your actions. It’s when you receive compensation throughout your life over a set period of time.

The payments get distributed as per your wishes. But it’s crucial that you choose the distribution that works ideally for your situation.

As such, you should consider hiring a Structured Settlement Consultant. They’ll help you choose the best solution for your structured settlement.

Here’s what you need to know.

Funding

A structured settlement consultant’s first job is to help you find a funding service such as Rightway Funding.

They’ll find a service that can offer you funding for your structured settlement. They’ll assess which are the best services for your situation. Without their advice, you run the risk of choosing an unreliable service.

Should a funding service go out of business, you might not receive your structured settlement at all. In such a case, you might not get to request it again.

As such, a structured settlement consultant is crucial in such a scenario.

Negotiation

A structured settlement consultant can also help you with negotiating your terms.

They can help with fighting your case to win a structured settlement. They’ll help you prove that your injury or illness was wrongful. They’ll then negotiate your need to receive a structured settlement.

It can be a challenge to negotiate or petition for a structured settlement on your own. Just as you’d have difficulty representing your case in a court of law, you’ll want to have an expert on your side.

This is where a structured settlement consultant steps in. They can negotiate and fight for your case.

Analyzing Economic Loss

The final benefit of hiring a structured settlement consultant is that they’ll help you analyze your economic loss.

You’ll likely have medical expenses and a potential loss or decrease of income in the future. As such, you want to make sure that your structured settlement can help you with such circumstances.

You also want to make sure that you don’t spend all your settlement at once. You want to ensure that you also get your payments often enough to cover financial hardship.

This is a lot more complex than it may seem. A structured settlement requires the recipient to plan their finances. It requires them to save their money and spend frugally.

This is where you’ll be grateful for a structured settlement consultant. They’ll help protect you against any upcoming economic loss by teaching you how to use your structured settlement.