Sell Structured Settlement Payments
There are several steps to selling your structured settlement payments. Let's walk through, step-by-step, of everything you should expect from the start to finish.
Step One: Get several bids (so to speak)- You wouldn't get a nose job from the first plastic surgeon you met, and you certainly should not start serious negotiations with any company, until you are happy with your preliminary quotes and investigative findings. The Better Business Bureau (BBB)is a great place to start.
Step Two: Come to an Agreement with Company- Once you accept the offer from the company you're negotiating with, you will be asked to fax your structures settlement policy, in order to verify your payments.
Step Three: Attain Legal Assistance Before Signing a Contract- Even though you may feel like you are getting a fair deal, it is always advised to get a second opinion from a legal adviser who is skilled in these matters. Some states actually require this step. Assuming that everything looks good, the documents will be processed, and a local attorney will be hired to represent your case in front of a judge. It can take up to five weeks for a hearing to be scheduled, depending on your location.
Step Four: Appear in court- In most states you will be required to show up in front of a judge, in order to explain your reason for selling your structured settlement. For the most part, the judge will be interested in the discount rate being offered. However, also be prepared to answer questions about your employment, prior transactions, and the reason you are selling.
Step Five: Closing the Deal- The judge will sign the agreement, and the order will be sent to transfer all remaining payments to the company who has purchased it. Once the transfer of remaining payments has been made, the negotiating lump-sum payment will be transferred to the account you designated.