How much moneycan I get for my structured settlement?
There are six important steps to getting your money for a structured settlement. The first step is gathering all the necessary document to prove the settlement is yours. In addition, you may need to show proof of a divorce, to determine if that partner is entitled to any part of the lump sum. The second step can be skipped, although we would strongly advise against that. It involves researching qualified buyers and determining the best company to work with. We like to think would be that company.
The third step is signing a contract with that company. To your advantage, most states require a “cooling off” period, where you have the option to get out of the contract if you change your mind. The fourth step is having an attorney submit the documents from step one, and a trial date will be set. We take care of submitting this information and there are no additional costs or legal fees. The fifth step is showing up on your court date, and explaining to the judge why you need to sell a portion of your settlement. While your presence is required, it isn’t certain that you will need to speak before the judge.
The sixth and final step is when the court orders the insurance provider who owns your settlement to turn over that portion of your payments to the buyer. Once the transfer is complete, and the buyer gets confirmation that the payments are in their name, you will receive a lump sum deposit in your bank.