How Do I Sell My Structured Settlement? The Facts

You have won a lump sum of money in the lottery at a casino, or in a court case. The amount is rather daunting, so you and the insurance company of those giving you the money settle on a structured settlement payment plan, where they send you part of the money every two months for the rest of your life. Good deal, huh?

You are, therefore, enjoying life, you have a good job, your family is taken care of, but there could be more to this life of yours. Then it hits you: you can sell your structured settlement! Or, at least, part of the settlement. You have heard that this is done, but you are not sure. So you ask yourself, how do I sell my structured settlement?

How Do I Sell My Structured Settlement – Research, Research, Research

How do I sell my structured settlement How do I sell my structured settlement, you ask? Well, it is a pretty straight-forward process, as long as you get all your facts right. Financial companies exist that buy and sell structured settlements, but one doesn’t just run in guns blazing and initiate the process. No: research. Research cannot be overemphasized. Go to the companies you have short-listed and make inquiries. Look them up on the Internet and check their reviews. Find out their discount rates and how much they stand to gain from you, as well as you from them. Look into their history: have they ever declared bankruptcy? Do they use their own money to fund, or are they brokers? This is very useful information to know. One cannot know enough about the people handling their money. Also, ask other individuals about the sale of their structured settlement. How did it go for them? Thusly armed, do the next most important thing on your list: get a lawyer.

How Do I Sell My Structured Settlement – Get A Pro Lawyer

Not just any lawyer, but a lawyer that is conversant with selling structured settlements. When you wonder ‘how do I sell my structured settlement’, getting a lawyer should flit through your mind almost immediately. The financial companies that deal in structured settlements usually attach a lawyer to the seller, but they should allow you to bring yours. If they do not, leave immediately: they are not to be trusted.

How Do I Sell My Structured Settlement – Meet The Company

You have asked the question ‘how do I sell my structured settlement’. You have done your research. You have met with a lawyer. Now, meet the company.

After visiting companies, getting their quotes and discount rates, and dismissing those that looked fishy to you, you are finally ready to sell. So, go to the financial company you have decided to do business with (with your lawyer in tow), and take all the necessary documents with you, which should include some identification, application, and settlement agreement. The financial company will look this over to ensure that everything is clean and accurate. After the verification process, the company may return the paperwork to you, or they will get a local lawyer to file a petition with a court in that particular state, where you will get to meet the judge.

How Do I Sell My Structured Settlement – Meet The Judge

How do I sell my structured settlementSelling and buying structured settlements is a court-controlled process: a judge must approve the sale of your structured settlement before you can get the cash payout. This is also where the waiting begins. At this stage your ‘how do I sell my structured settlement’ becomes ‘how do I rewrite my structured settlement contract’ so as to shorten the waiting period. The judge has to schedule a hearing, the date on which you will appear before them and prove beyond all reasonable doubt that you really need that money. The judge is acting in your best interest: so, if they like what they see, they will approve the sale.

How do i sell my structured settlement – sell:

Once the judge approves, they will sign an order approving the sale. Bravo! You have gone from ‘how do I sell my structured settlement’ to ‘how do I invest my settlement payout.’ Wisely, invest wisely.