Your Structured Settlement: Lessons Learned from Tracy Morgan

The settlement was huge. By most media speculations, the payout was to the tune of $90 million*. But for all of the pain and suffering that Tracy Morgan endured, it’s arguable that he deserved considerably more. In June of 2014, the world watched in horror as the beloved comedian and actor was rushed to the hospital with life-threatening injuries. A Walmart truck had crashed into Morgan’s limo on the New Jersey Turnpike causing him to suffer a traumatic brain injury, a broken leg, and broken ribs. He was in a coma for eight days and underwent months of physical rehab and therapy. His friend, comedian James McNair, was also in the limo and was killed. The cause? The driver of the Walmart truck had gone more than 24 hours without rest and essentially, fell asleep at the wheel. The trucker ultimately plead guilty. Walmart took responsibility and settled.

But why should we talk about this incident years later? Morgan is back on the stage, using his experiences as source material for new (and perhaps therapeutic) jokes. Even Walmart settled a lawsuit by two insurers that wanted to avoid covering its multi-million-dollar payout to Morgan for his injuries. All seems to be well. Although the accident is in our rear-view mirror, Tracy Morgan’s story deserves a second look and a conversation. We cannot overlook that the settlement Morgan received allowed him to get back to normal. He was already famous, but the settlement money allowed him to focus on getting back on track, both physically and mentally. The Tracy Morgan tragedy and eventual recovery offers valuable lessons. It shows that that you too, can jump over physical and financial hurdles…and be better for it in the end. If you have a structured settlement, you can maximize your attempts to get back on track if you’ve fallen on hard times (even after sustaining a major injury) or would like to break out of a financial rut (even if your total settlement amount is less than 90 mil). Selling your payments for a lump sum can provide you with the financial resources needed to tackle large debts so you can focus on the next chapter of your life.

Choosing the Right Structured Settlement Buyer

Getting to that next phase involves important personal choices (like deciding whether or not you’d want to sell all or just a portion of your payments). It also requires the right support. When selling your payments, connect with a structured settlement buyer that has your interests and financial well-being in mind; one that will ensure you get the most cash for your payments. Many structured settlement buyers out there are seeking major profit boosts from their transactions. That’s why it’s important to vet your buyer and demand that your lump sum is more than fair. The ball should be in your court. The parallel here is that Tracy Morgan, with the help of his family and caregivers, was able to move past limitations and emerge healthier and wealthier. With RSL Funding, you can rest assured that you’ll also have someone on your side to talk through any pain points and promote decisions that make sense.

Selling Your Structured Settlement…and Moving On

In multiple interviews, stand up comedy routines, and via other public appearances, Tracy Morgan remarked on how he’s been able to move on, feeling as though he is “a better man” than he was before the accident. With the right help and support, Morgan could get back to work; he could forego reliance on a wheelchair, and get back to normal. But let’s be real: many people who’ve sustained devastating physical injuries through negligence have a hard time breaking through the same types of hurdles. Perpetual hospital costs and other debt could can stifle recovery. Even if you’re re receiving periodic structured settlement payments, the slow frequency of when they come in might not be enough to get a handle on your debt. If you find yourself in this predicament, channel your inner Tracy Morgan and look toward the future! Recovery and financial stability are in your reach; selling your settlement payments for a lump sum can help you change your life in ways you never thought possible. Pay down your debt. Go back to school. Start a business. Whatever you decide, you can start your next chapter with considerably less worry. And…we’re here to help.

Connect with RSL today for a free, no-obligation quote on the sale of your payments.

*The actual settlement amount was undisclosed.