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TexLaw
TexLaw, Attorney
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i had a workers comp claim settled in 2004 they took an 20,000

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i had a workers comp claim settled in 2004 they took an 20,000 dollar with holding for future medical bills due to my comp injuries . am i able to just get that annuity closed and get that money due me instead of a once a year payment i have not had any work done on that injury at all i could really use the money thank you verry much Don Lowrey
Submitted: 1 year ago.
Category: Legal
Expert:  TexLaw replied 1 year ago.
Hi Mr. Lowrey,

The annuity payment is permanent and there is no way to go back and reformulate it. The annuity company cannot and will not change the agreement it has and pay you differently.

There are companies out there which will purchase your annuity from you in exchange for a lump sum. However, the lump sum will be less than what you would be paid out in your annuity, sometimes significantly less. An example of such a company is:
https://www.oasislegal.com/structured_settlements/structured_settlement_frequently_asked_questions

I am not endorsing the above cited company, and am only providing it for sake of an example.

Please let me know if you have any further questions. Please also kindly consider rating my answer positively so that I am compensated by the website for my work on your question. Rating positively does not cause an additional charge and does not prevent us from further discussing your questions.

Best Regards,
ZDN
TexLaw, Attorney
Category: Legal
Satisfied Customers: 4164
Experience: Lead trial/International commercial attorney licensed 11 yrs
TexLaw and 16 other Legal Specialists are ready to help you

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