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Spread payments over time to avoid higher taxes: Receiving a large taxable settlement can bump your income into higher tax brackets. By spreading your settlement payments over multiple years, you ...
Requires creditor cooperation: Many lenders are unwilling to settle current debts and will only consider older, past-due debts for debt settlement negotiations. In addition, there is no guarantee ...
A structured settlement is a negotiated financial or insurance arrangement through which a claimant agrees to resolve a personal injury tort claim by receiving part or all of a settlement in the form of periodic payments on an agreed schedule, rather than as a lump sum. As part of the negotiations, a structured settlement may be offered by the ...
Debt settlement is the process of negotiating with creditors to reduce overall debts in exchange for a lump sum payment. A successful settlement occurs when the creditor agrees to forgive a percentage of the total account balance. Normally, only unsecured debts, not secured by real assets like homes or autos, can be settled.
A structured settlement factoring transaction is a means to raise liquidity where there is no other viable means, via the transfer of structured settlement payment rights, for items such as unforeseen medical expenses, the need for improved housing or transportation, education expenses and the like, or in a situation where the individual has simply spent all his or her cash.
The agreement gives the city 30 years instead of 20 to catch up on payments that were deferred during Detroit's bankruptcy 10 years ago. The retirement system investment committee and board had ...
In the United States, for federal taxes payable to the IRS, the money awarded in a personal injury settlement as compensation for pain and suffering, medical expenses and property damage is not ordinarily taxable. Exceptions may apply, for example, if a plaintiff took a tax deduction in a prior year for medical expenses that are recovered ...
A member of the $600 million class-action settlement with Norfolk Southern has filed an appeal, delaying payments for months to years.