Did you know you can sell structured settlement payments for a lump sum cash payment? There are many financial companies and private investors who offer lump sum cash payments in exchange for future annuity payments. However, it is important to understand the process and scrutinize the individual or company offering the deal.
When you sell structured settlement payments to an investor or financial institution you will be required to assign your rights to future payments over to the buyer. When you assign the rights, the insurance company will send payments to the individual or organization you sell your structured settlement to. You can sell all or a portion of future structured settlement payments.
Experts recommend selling only a portion of structured settlement payments whenever possible. The reason being, investors who purchase annuity payments do so at a cost lower than the value of the settlement. For instance, if you were to sell structured settlement payments valued at $100,000; you will only receive approximately $65,000. Additionally, you would lose accrued interest on future payments. So, unless there is a dire emergency that requires you to sell your entire structured settlement, it's wise to hold on to a portion of it.
Before you can sell structured settlement payments you will need to:
Determine how much money you need.
. Gather structured settlement details including contact information for the insurance company who provides the payments, the amount of payments, and the dates you will receive them.
. Conduct research to locate a structured settlement investor or investment company.
. Obtain permission to sell structured settlement payments from the court.
Once you locate a buyer for your structured settlement, papers will need to be filed with the court. A judge must review your case to determine if selling your structured settlement is in your best interest.
Many people choose to sell structured settlement payments in order to pay off debts such as their mortgage or medical bills. Others may want money to invest in real estate, stocks, bonds or other investment opportunities. When you sell structured settlement payments, you can do whatever you like with the money. Just remember, you need to show just cause to the court in order to obtain permission to sell your structured settlement.
When looking for a financial company or private investor to purchase your annuity payments, it's important to conduct research and thoroughly investigate them prior to signing any documents. After all, it's your money and you do not want to lose it to unscrupulous people.
Always check with the Better Business Bureau and ask for references. Then follow-up with those references and ask detailed questions. Remember, people can be deceptive and provide false references, so always use caution when working with individuals who offer to pay you cash in exchange for the selling future structured settlement payments.
Obtaining cash for structured settlement payments is a rather complex process. Working with a professional organization such as Simon Volkov can simplify the process. To learn more about how to sell structured settlement payments or to arrange for a free consultation, fill out the structured settlement form. Upon receipt of your information, one of our structured settlement specialists will contact you to further discuss your financial needs