If you get into financial troubles or you simply need a large amount of money, you can sell your structured settlement. The process is less complicated than you think. Once you decide to sell, you can get in touch with a structured settlement purchasing company. The representatives will negotiate settlement transfers and you’ll have the money after a short while. Once you contact them, they’ll guide you through all the steps of the way.
If you haven’t decided yet, just find a structured settlement purchasing company and ask for a free quote. You’ll get it in minutes and it will help you get the big picture. Most companies will even give you a cash advance between $500 and $1000 right away in order for you to cover your needs immediately.
Selling a structured settlement requires some paperwork. You have to send those to the company that’s working for you.
The required documents are:
- Two forms of ID – the driver’s license and the birth certificate or the Social Security Card will do just fine;
- A copy the settlement and release agreement – you must have all the original paperwork of the structured settlement;
- An application – you’ll get this from the settlement purchasing company;
- A copy of the annuity policy – it refers to a document that features details about the future payments. If you don’t have this policy, talk to the insurance company that makes the payments.
When the paperwork is complete and it gets approved by the structured settlement purchasing company, they’ll set a court date. You’ll have to be there to explain to the judge the reason why you want to sell structured settlement. When the court approves your case, you’ll receive the money.
You won’t get the full price. The company that will buy your structured settlement will usually give you between 60% and 80% of the value. This is basically the price you’ll pay to get instant access to your money. The future value can be influenced by the present economic conditions, fees, amount of payments that you wish to sell or timing of the payments.
When you face financial problems or you need lots of money, selling your structured settlement is a way to get money to solve the issue. If you want to buy a house, send the children to college, start a business or invest, selling your payments is a good way not to get loans and go into debt. Analyze the situation, talk to the representatives of a specialized company and see if this option works best for you too.