More details to this question:
I got attacked by a dog when I was little and got a settlement. Not able to legally touch the money until I’m 21 which is in January. Family issues have come up and I need to move and don’t have enough money. Attempting to get a loan for now and pay it off in January is it possible?
9 ANSWERS
Edwin K. Niles
18 in California.
Answered on Nov 21st, 2013 at 9:07 AM
If you have a settlement in trust due to being a minor, any disbursement require court approval. Wanting to move is not likely on it sown to be met with an oh ok, from the court.
Answered on Nov 21st, 2013 at 8:31 AM
James Eugene Hasser
You can petition the court for it and/or to get emancipated.
Answered on Nov 21st, 2013 at 8:11 AM
Personal Injury Attorney serving Kent, WA
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Law Offices of Wayne J. Wimer, Inc. P.S.
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You may have to petition the court to get early release of the money. Most banks or credit unions will loan money to you if you secure the loan with the account the money is held in.
Answered on Nov 18th, 2013 at 2:41 PM
Employment Law Attorney serving Beverly Hills, CA
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Dordick Law Corporation
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You can probably go into court and get the money released early, but you would need to do an ex parte motion, otherwise it would not be heard until probably after you need to move. The alternative is to get a loan, but the companies that give loans on settlements charge a lot. I would recommend that you find a friend or family member that will agree to loan you the money you need for the 60 or 90 days you will need it.
Answered on Nov 18th, 2013 at 12:17 PM
NA richard@jandjlaw.com
Maybe, but probably not. Sounds like money was put in an annuity for you to tie the money up to protect you from spending it all after you reached age 18.
Answered on Nov 18th, 2013 at 12:17 PM
Thomas Edward Gates
It would be up to a bank to accept your account as collateral.
Answered on Nov 18th, 2013 at 12:16 PM
Chapter 7 Bankruptcy Attorney serving Syracuse, NY
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Andrew T. Velonis, P.C.
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Possibly, you could get a court order to release the funds early. Possibly, you could get an advance from a company that makes these financial arrangements. Either way, my recommendation is to tough it out for a couple of months. It's been this long already, try hanging in there.
Answered on Nov 18th, 2013 at 12:16 PM
Ronald A. Steinberg
Go to a bank and try to borrow, using the structured settlement as collateral. Otherwise, it will cost you 'big time' to take an early payout.
Answered on Nov 18th, 2013 at 12:16 PM