I've seen the commercials on TV for companies like Peachtree. My fiance is receiving structured settlement payments from an accident he was in a few years back. His next scheduled payment is in 2012, and then again in 2017. He was interested in getting an advancement on these payments in hopes of putting a down payment on a house for us, since we're getting married in 2011.
I'm unsure because the papers he has from the settlement proposal have his signature, stating he will not request premature payments. Is this how all settlements are? And the companies know how to get around that? Or is there nothing he can do? - Apparently the money is already in an account, so it's not as if the settlement company has to try and get money from the insurance company. Does this make a difference?
Thanks in advance for any and all help.
He made a full recovery. The money was issued to him as a settlement because of someone else's negligence. It wasn't money set in place for bills from his insurance company.
He chose how his payments would be set up, and when he would get the money. He split it up, but at the time, he wasn't even thinking about settling down or having a home, so now that this popped up, he's all for getting the advancement. He knows he'll only get about half of what he's supposed to get in the long run, but with the inflation rates, etc, he doesn't really mind. And we'd like to try and qualify for the new home buyer's tax credit.
Orignal From: Settlement Advancement?
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