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Selling structured settlement – win some and lose some!

Structured settlements offer a plaintiff the flexibility to decide whether they want to continue with the periodic annuities or they want to go for cash-out. Considering that you need immediate cash and are thus looking to sell your structured settlement, the first question that will definitely come to your mind is this – How much can I get for my structured settlement?

Well, a number of factors will be at play. And, it is a combined effect of all these factors that will decide how much you will be able to get. There are, however, a few things to consider such as:

  • The total value of the settlement
  • Rate of discount at which you will be selling off your structured settlement
  • The number of payments you are yet to receive (that’s considering you have decided to get cash out for a part of the settlement amount)

While in case of annuities you would have received settlements at their pre-tax value amounting to the total amount which was initially decided, in case of cash out you need to be ready to ‘part’ with a ‘part’ of the total settlement amount! The factoring company will buy your structures, not at their original value but at a discounted rate. This is where you lose out.  The cash out process usually takes up to 90 days to be cleared. So, you need to be prepared for that too.

Another scenario may arise while selling your structured settlement. Let’s suppose you have already sold a part of it earlier, so can you sell the remaining portion now? Yes, that’s possible too. This, again, depends on the amount of the settlement amount left. You need to furnish to details of your settlement to the factoring company and see if they agree to the process or not. The factoring companies buy the structure from you at a profit, depending on the rate of interest at which you are required to sell your structures. Finding a factoring company isn’t at all difficult at present, what’s tough though is to find one that delivers according to the assurances. That’s where My Structured Settlement Cash comes in, we make it easy to get the best quote available.