Many individuals opt to sell structured settlement payments for various reasons. Perhaps they need funds immediately for medical bills, or want to unlock future payments as savings for a house, car, or vacation.
https://www.sellstructuredsettlements.net/
Structured settlement purchasers (factoring companies) offer lump sum payments based on their estimation of what your payments will be worth in the future. To purchase one legally requires court approval.
Why Sell Your Settlement?
If you need quick cash now, selling your structured settlement may be beneficial. Use the lump sum from the sale to buy a car, pay off debt or secure a mortgage.
However, it’s important to remember that you will be exchanging guaranteed tax-free payments in exchange for cash now. Holding on to the structured settlement and investing it wisely could potentially net you more money in the future.
Factoring companies offer structured settlement sales as an investment with upfront discounts of cash up front, depending on various factors like present value of future payments, discount rate and service fees to create offers for you.
Be sure to compare quotes from various factoring companies and shop around, to make sure that you get a fair price and excellent customer service. The process from beginning to end can take 45-90 days.
How Much Can I Sell My Settlement for?
Selling structured settlement payments in exchange for a lump sum of cash can be an excellent way to reach financial goals or meet emergency expenses. But be mindful that any purchases made with the proceeds of selling structured settlement payments may come at a discount rate between 9%-18% from purchasing companies.
Understanding why and how you are selling your structured settlement annuity is also critical, as this will have an effect on your finances. A judge reviews every transfer and must ensure it serves in your best interests.
People selling part of their structured settlement may wish to do so in order to resume receiving payments in the future or obtain a larger lump sum, giving them control of their money in the short-term and sidestepping structured settlement cash now pushers.
How Do I Sell My Structured Settlement?
Are You Needing Money Now for Debt or Medical Treatment? Selling Structured Settlement Payments Could Provide the Answer
Structured Settlement Payment Buyers (factoring companies) offer to buy your future payments for cash upfront in exchange for a set discount rate; therefore you won’t receive as much by cashing out than by taking them as scheduled over time.
To sell your structured settlement, it is necessary to work with a reliable factoring company which offers accurate information and attentive customer service. Begin by gathering quotes from several buyers before choosing one with an attractive discount rate and buyout option that meets your financial requirements.
Do I Need Court Approval?
Judges reviewing structured settlement transfers will make sure the sale makes basic sense and is fair for both parties involved. Assuming you have an appropriate reason for selling structured settlement payments and are choosing an experienced buyer, most judges will approve such sales.
At Strategic Capital, we work with multiple factoring companies to secure you the best price for your structured settlement payments. We will arrange a court date so a judge can sign off on its sale; typically this process can take anywhere from one to three months, depending on when a hearing date can be scheduled by them.
Before beginning the structured settlement selling process, always conduct extensive research. Shop around until you find an offer you like best and always request proof of legitimacy – some shady buyers use fake government department names and email addresses to send spam; be wary of marketers posing as structured settlement audits or registries who attempt to push sales through without doing your due diligence first. Educating yourself beforehand will prevent these sales from proceeding further.