Article: Bill would restrict settlement cash-out business

You might have seen those late night TV ads or direct mailings from companies asking if you'd like to trade in a structured settlement for quick cash.

While these businesses provide a rapid fix for claimants strapped for money, the consumer usually ends up with a raw deal, several state lawmakers agree.

A bipartisan group of delegates is pushing a bill that adds restrictions for structured settlement transfers.

A structured settlement typically results from a wrongful death or personal injury tort claim, in which the plaintiff receives periodic payments as an alternative to a lump sum.

However, claimants have the option of selling future structured settlement payments if they desire more ...

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