Selling Your Structured Settlement When Needed
To help deal with expenses, it's sometimes necessary to sell a structure settlement or annuity payment.
Some of the more common reasons are often related to debt, unexpected medical expenses, or even business ventures and home repairs.
A structured settlement is an annuity payment usually as a form of compensation for personal injury. While receiving such monthly payments has it's benefits, it's often necessary to sell structured settlements to deal with other issues.
Having the option to cash out a structured settlement for a lump sum can provide benefits. Having access to cash for a home down payment or starting a business is not easy to come by. While the original reason you received it might not be great, being able to liquidate a settlement for a lump sum might create access to opportunities when they come up.
You might ask yourself what is your intention behind selling a settlement, and if it's right for you. Once those payments stop coming do you have another means of supporting yourself and whether it's the right decision. There are many incidents where the reason a recipient has received the settlement in the first place is an accident has left them in a situation where they're no longer able to work.
When selling your annuity you should be aware of the process and that frivolous purchases will not be approved. The decision will go before a judge to determine if it's viable and in the best interest of the annuity recipient. Wanting a new TV or similar is not going to be tolerated, but many have sold their payments for a new car, which can be more of a necessity. Proper transportation is considered less of a luxury item and sometimes granted, with each situation being dealt with on a case by case basis.
When thinking of selling your structured settlement payments, it's also worth noting that you can sell a partial amount. If you do not need the full amount, you would want to look at this option so you might retain some of your monthly payments.
Whatever your reasons are for seeking to sell a structured settlement for a lump sum, you can find plenty of companies willing to buy structured settlements. It's important to make sure you find the right one that will give you the value so that you can meet your financial needs now and in the future.
When we speak with a prospective client that wants to sell, we ask many questions to not only determine whether it will be approved, but also to evaluate if it's the right decision for you. Sometimes we've spoken to people that weren't thinking of their future, and turned them away. While they can easily go somewhere else, even if they receive significantly less than the value, we feel it's important to advise when selling a settlement is the wrong thing to do.
We pride ourselves on not only service, but delivering a top quote when buying your settlement. My Structured Settlement Cash is here to help when you want to sell.
It's important to note that the process to receiving a lump sum for a settlement typically takes between 30 and 45 days on average.
Feel free to contact us for a settlement quote to find out what your annuity is worth.