Best Payment Method for Settlement?

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Originally Posted by Anonymous I have used the pre-paid debit cards. I was worried that it wouldn't go through their system right since there is no pin number but went through fine and I know they were salivating thinking they had information on my bank account. lol Plan on using this method for all payments since they get it right away. I would only need an hour to get the money loaded on the card and then call them back. In addition, I can go on the website and print off the transaction showing it coming out and who it went to for the file so there is still a record. With the cashiers check or money order, you have your copy but nothing that states it cleared into their account. You can get it but it's a pain to have the bank provide that information.

Thanks for the great tip! Did you just call and ask them to pull the balance from your account (which was really your pre-paid debit card)? All they needed was the card number? or all the information on the card?

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Originally Posted by tygger What's the best payment method to pay for a settlement? I read that you shouldn't provide the creditors with any bank account information, so that means I can't send them a check or pay them via online banking... right? Is a cashier's check the only way to go? Thanks

Everyone's personal financial situation is different, but here is one view and opinion.)

If you are involved with a legal decision, financial claim or insurance arrangement, the financing process to settle and resolve the claim can often take two forms. Either a one-time lump sum payment, or a long-term periodic series of deferred structured settlement payments. But which is best for your situation?

A structured settlement involves a financial or insurance arrangement which includes a periodic stream of payments, that a claimant or plaintiff accepts in order to resolve a personal injury claim or other legal case. They were first utilized in Canada and the United States during the 1970s as an alternative to lump sum payments and are now part of the statutory tort law of several common law countries.

A structured settlement is a deferred payment method for compensating injury victims, and is a voluntary agreement between the injury victim ( plaintiff ) and the defendant. The plaintiff will receive the monetary payout over the course of a number of years through this deferred payment agreement. Under a structured settlement, an injury victim does not receive compensation for their injuries in one lump sum, but rather, they will receive a stream of tax free payments designed to meet future expenses and living needs. This type of compensation method is becoming more popular in a wide variety of legal cases.

The benefits of a structured settlement over a lump-sum payment include the security of a guaranteed long-term income with deferred payments that are exempt from income taxes. The federal government encourages the use of structured settlements in personal injury cases. Structured settlements also attract support from plaintiff attorneys, state attorneys general, legislators, consumer and disability advocates.

Structured settlements can be ideally suited for cases with:

??? Severe injury

??? Wrongful death cases

??? Persons with temporary or permanent disabilities

??? Workers compensation cases

??? Guardianship cases that may involves minors

Want to Sell Your Structured Settlement?

Not everyone benefits from a long-term payment situation and some may want or need a lump sum instead. The owner of a structured settlement, such as lottery winners, medical, insurance, accident and lawsuit settlement owners, can often sell their rights to the deferred payment stream, in exchange for a one time lump sum payment from a variety of financial institutions. All situations are different, and as with any legal issue, you should always consult your attorney.
For more info: visit debtsettlementbranch.info