Get the Most Cash for Selling Your Structured Settlement


Sales of structured settlements start with a need or want. You intend to buy a house or you need to pay off your college or university loans, for example, but your annuity payments can’t match your wants or needs.

You may wonder, “Can my structured settlement be changed?” It can’t. Once you and the at-fault party achieve your conditions and a life insurance policy company picks up the annuity, the conditions are fixed and finalized. Here’s where structured settlement companies, like J.G. Wentworth, come into play.

Before you contact a structured settlement company, though, have a few steps backward. Selling a structured settlement works by taking precautions and doing all your research, so focus on these steps:

  • Talk to your lawyer. Chat with your legal professional from your settlement case and have, “CAN ONE sell my structured pay out?” You may find you’re in violation of the document’s small print if you transfer your settlement. If your legal professional gives you the thumbs-up, talk to them about why you want to promote all or a portion of your settlement.
  • Decide your reason to market. A judge evaluates and rules on every structured settlement transfer – it’s regulations. In case your reason to sell is that you want a new sports car, versus needing to secure a home, a judge will likely rule the transfer isn’t in your very best interest. Judges also go into the purchasing company’s history, the amount you’re getting and any past requests to market your settlement.
  • Find your structured settlement company. Sell your structured arrangement, or elements of it, the same way you buy a car. Shop around. You’ll probably receive a better price if you don’t choose the first company that provides you a quote. Make sure your broker agrees to pay any fees.
  • Wait for your court date. Prepare to hold back greater than a month to two months before meeting with a judge to approve your proposed structured settlement transfer. If you’re pressed for cash, however, a lot of settlement companies provide small payday loans.
  • Notarize your agreement. Finalize your transfer agreement and receive your funds which means you can move ahead with your life and plans. If you’re pressed for time or want a notary to meet your schedule, mobile notary services are convenient and available nationwide.

Prepare and does some research before you go about selling your structured settlement. You’ll boost your chances of acquiring a judge’s approval, plus earn a purchase offer above your expectations.

What Type of Payments Can You Sell?

You can sell a structured settlement, but you’ll find some are simpler to sell than others. Structured settlements breakdown into two forms – Life-Contingent and Guaranteed Payment. Both are awarded for either a compensation for injuries, wrongful death or as worker’s compensation. To find out more, visit Sell structured settlement payment

Life-Contingent Structured Settlements end at the time of your passing, which means your beneficiary struggles to sell the settlement due to original agreement terms. Guaranteed Payment Structured Settlements, however, pass to your beneficiaries because the pay out pays out over a fixed timeframe.

Nine types of payments are then available that you can sell for a lump sum:

  • Income for Life: Designed to balance your current expenses with your own future bills. Paid over your estimated life span, they’re passed to your beneficiary if you pass before the last payment.
  • Time Certain: Paid over a select number of years in equal payments.
  • Step Annuity: Adjust to the inflation of money as time passes which means that your payment increases in correlation with your expenses.
  • Index Linked: Connected to the growth of the stock market’s S&P 500, but can only just increase by five percent annually.
  • Deferred Defined Benefit: Delays the start date for acquiring settlement payments.
  • Term Certain: Provided in unequal payments more than a select timeframe.
  • Joint and Survivor: Offers a single settlement contract for multiple, often related, individuals.
  • Treasury Funded: Alters the settlement amount to meet inflation and the actual cost of living.
  • Variable Income Payout: Influenced by fluctuations in the stock market.

Your type of settlement is important, but the root cause of your arrangement is more pivotal when it comes to cashing in for a lump sum. The sale of worker compensation settlements, for example, is often complicated by strict state and federal laws, unlike compensation for injuries structured settlement transfers.

It’s another reason why meeting with your attorney and discussing your case is important if you want to market your structured settlement successfully.

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