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Alex J. Esq.
Alex J. Esq., Attorney at Law
Category: Legal
Satisfied Customers: 16396
Experience:  Experienced Licensed Attorney
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I LIVE N COLOADO I HAVE A WORKMANS COMP SETTLEMANT PART OF

Customer Question

I LIVE N COLOADO I HAVE A WORKMANS COMP SETTLEMANT PART OF WHICH IS 189000 AND IS PAYED OUT AT 535.35 A MONTH I HAVE BEEN RECIVING THAT FOR THE LAST YEARS MY QUESTION IS CAN I ACCESS THIS MONEY FOR EMERGENCYS OR TO BUY A HOUSE
Submitted: 7 months ago.
Category: Legal
Expert:  Alex J. Esq. replied 7 months ago.
Hello. My name is***** am a US licensed attorney and I will be happy to answer your question.I am sorry to hear about this unfortunate situation.Please note, I cannot comment on your specific situation, as this services is only limited to general information and for any legal advice / legal service you should contact your local attorney.Does the settlement states that the entire amount of $189,000 workman's compensation settlement will be paid out in monthly installments of $535,35 until the entire amount is paid in full?
Customer: replied 7 months ago.
AS FAR AS I KNOW YES OVER A 29 YEARS BUT I WAS WANTING T KNOW IF THERE WAS A SPECIAL CIRCUMSTANCE SUCH AS BUYING A HOME OR EMERGENCY IN CO. LAW THAT WOULD GIVE ME ACESS TO THESE FUNDS
Expert:  Alex J. Esq. replied 7 months ago.
Thank you for your follow up.Generally, there would not be any exceptions that would allow the recipient to have access to any additional funds, when it comes to structured settlements which payout set monthly payment which would allow the person who is entitled to the settlement to access more than a monthly amount, however, there are number of third party private companies that purchase structured settlements for a lump sum payments, however, in most cases, such companies offer low lump sum amounts and unless the person cannot survive without selling his/her structured settlement, it would not make sense to sell the settlement for a greatly reduced lump sum. I wish you the best of luck!
Expert:  Alex J. Esq. replied 7 months ago.
Please let me know if you have any related follow up questions?If not, please positively rate and accept my answer, so I can be compensated for my work.Thank you.

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