Q: Can I use my structured settlement to pay off debt?

Can payments from a structured settlement be used to pay off debts?

A:  Yes, you can use your structured settlement payments to pay off debt. There are no restrictions on using your structured settlement funds, allowing you to allocate the payments towards debt repayment or any other financial needs. However, if you have existing high-interest debt at the time of settlement, you might choose to pay off that debt with a lump sum rather than over time with a structured settlement.