LYCOS RETRIEVER 
Structured Settlements: New York
built 605 days ago
Lyons received an initial payment of $2.8 million under his structured settlement and is entitled to periodic payments over a 24-year period, according to court documents. Lyons has monthly income and expenses of $18,267.88 and $17,568.89 respectively, leaving him with monthly net income of $698.90, according to his filings with the U.S. Bankruptcy Court for the Southern District of New York.
Some people who enter into structured settlements feel trapped by the periodic payments. They may wish to purchase a new home, or other expensive item, yet be unable to muster the resources because they can't borrow against future payments under their settlement.
Source:
McGraw: Don’t believe recent LNL storyLegal News Line, DC - Aug 10, 2007The 2005 settlement with Purdue Pharma was structured in a way that allowed his office to appropriate the funds as it seemed fit, McGraw says. …McGraw: Don’t believe recent LNL story - Legal News Line
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