Do I have to go to court to sell my structured settlement?

Yes, a court appearance is always required before you can sell your structured settlement. There are a couple reasons for this. One, the judge will want to know why you are selling. This is to prevent you from making any rash decisions that may effect your ability to take care of yourself in the future. After all, in the case of a personal injury, the settlement was likely given to help pay for medical and/or daily expenses.

The second reason is that the judge will want to look over the deal you are getting to make sure that you are being compensated fairly. Something to consider here, is while you will be protected from being severely taken advantage of, the judge will not have enough time to consider your case in its entirety, so it is ultimately up to you to make sure that you state your need to sell, and are able to justify the decision. Keep in mind that selling a structured settlement is not for luxuries, but necessities or reasons the judge finds acceptable. For some, it can be to take care of debt in order to manage finances better. Sometimes its home or car repairs, or even buying a new home or car. Other reasons can include unexpected expenses such as medical bills or funeral costs, paying for your child’s tuition, or even starting a business.

The judge will also look over the paperwork to make sure that everything has been filled out correctly. If your request is approved, the judge will ask the insurance provider to hand over that portion of your payments to the buyer. Once the buyer receives confirmation from the insurance provider, you can expect to receive your lump sum payment within just a few days.