If you've won a personal injury case or some other form of lawsuit, and your award was a relatively high one, chances are you're being paid a structured settlement. These settlements are designed to make it affordable for those who owe money to pay it within a decent amount of time. However, a decent amount of time could be 20 or 30 years!

If you've been awarded a structured settlement, you may be in need of your money now. Selling your settlement would be a great way to get your hands on that money. However, because the courts must approve of the reason you're selling your structured settlement, it may not always be an advantageous idea. Here are the top 3 reasons that people consider selling their structured settlement and courts will have no problems approving.

Reason #1: Debt

If you've won a personal injury lawsuit, it wasn't without pain, and more importantly for the courts, medical records. Unfortunately those medical records aren't free. Through the course of being injured and winning a judgement, you may have racked up tens or even hundreds of thousands of dollars' worth of medical expenses.

To make matters worse, because they are so severely injured that they cannot work, many people find themselves racking up just as much in credit card debt as they do in medical bills. That debt weighing on your mind could be causing incredible stress. The good news is, in these cases, selling your structured settlement could be your key to debt freedom.

Reason #2: Seek Higher Education

College is expensive, and unfortunately not everyone can afford to go. Many people who've found themselves injured on the job soon find that using their hands for what they love simply doesn't result in a good product anymore. In these cases, many people seek higher education, knowing that without it, making a living is going to be tough with new found disabilities.

But college is expensive, tens of thousands of dollars at the least. If you've got to pay for that on structured settlement payments, it may not work out. Therefore, selling structured settlements to pay for a higher education has become pretty popular among settlement holders these days.

Reason #3: Avoid Losing Your Home

After being injured to a severe extent, you may not only be facing medical bills, you may be facing a month's long inability to pay your mortgage. In this case, you may be facing the worst thing a homeowner can imagine, foreclosure. Being months and months behind, using only structured settlement payments, it could be almost impossible to catch up in time to avoid foreclosure. However, selling your structured settlement to avoid this is a very real possibility.

Final Thoughts

Life comes with its share of ups and downs. Unfortunately, after an injury occurs, there are generally more downs than ups financially. However, these days, we have court systems that protect us by holding those accountable for our losses accountable. Unfortunately, it isn't always possible to get a lump sum from the defendant in a suit. However, the sale of structured settlements has helped tons of consumers finally realize financial freedom once again!