Borrowing From a bank with a structured settlement As Collateral?

and thats a problem w/a structured settlement..it pays out over time....you'd have to call the banks n see if they'll accept that as bais for loan....the sharks out there will buy your settlement to give you cash to work with like you want, but you can see the hit is heavy from them....the 50% factor..but then again..you're talking ten yrs before something gives there...so you're using their money for ten yrs before they get any of it back...long time... so are you proposing to go to a bank and get a note on this settlement basis and pay it back over ten years? that wont happen either.....they want money now on a note..they're not about to wait around on you to get your settlement...it also shows them that you dont have funds on hand to work with or are heavily in debt at the moment and need to be thrown a lifeline............ not good. you're gonna have to do some more thinkin on this one.............

Ok. First JGWentworth isn't a bank, they are a factoring company. What they do is purchase your future payments based on the future value of the money. Structured Settlements can not be used as collateral for a bank loan. If you look at the paperwork it should state it somewhere. However there are other factoring companies out there other then JGWentworth/PeachTree (same company) that can purchase all or some of your future payments for cash. It is best to shop around and get the best quotes. Typically smaller companies that don't advertise on television have less overhead therefore than can offer better rates.