It's not really current news we're after, although there is plenty, the word structured settlements has been in the news since they became popular in the 1970's. Only 150 miles south in Arcadia / St. Louis consumers beware. Because of an up-swing in personal injury claims and awards, structured settlements became warrented in the 1970's. When a case is won, a company who can't pay the settlement in full may opt for a structured settlement or annuity paid out in periodic payments and over time.
Because I do not know how many St. Louis Missouri residents are holding onto a structured settlement or annuity I can only hope this information helps those who do.
Because of the amount of claims settled, the IRS implemented laws and implemented regulation, both Federal and State regulations became effective. The structured settlements industry has not been out of the news since.
The news of the 70's quickly spread to news of the 80's, 90's and now current news. It's a rare day that the word "structured settlements" is not in the news.
One specific and significant benefit of a structured settlement is an avenue to avoid taxes, commonly called "tax avoidance" and it's legal in most states. A disadvantage is that if someone has a structured settlement or structured settlements they merely get periodic payments over time vs. a lump sum.
Anything of value is open to exploitation so seller beware. A mid-west town such as St. Louis is no different than anywhere else. A holder of structured settlements needs to be careful.
A structured settlement or annuity can be very valuable. There are companies out there that will offer to purchase your settlement for a lump sum. A consumer needs to be careful not to settle for the first quote on the value of their structured settlement or annuity. If a consumer is forced to sell a structured settlement or annuity then there are those who may purposly take advantage of the consumers bad situation.
Will structured settlements ever be out of the news? That's my question.
