I need only $5000 of my settlement now. I know I will be getting much more money in my settlement when it is finalized soon. Is this possible?

I don't want to say yes without having more information. I would need to know how much you get and when you get it. What state you live in. Then I would have a better idea of getting you $5000.00.

But assuming your payment stream supports $5,000.00, then buying a partial is generally not a problem and often advised. Selling some of your payments to get what you need makes sense, and having more money coming in the future could be a life saver one day.