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Selling A Structured Settlement from Start to Finish

After you are determined to be a qualified candidate for selling a structured settlement, you can then begin the application process. You will be ask to provide basic basic information such as your address, phone numbers and social security number all the way to beneficiaries and insurance information. Once all that is compiled, and you have agreed on the purchase price of your annuity payments, a disclosure will be drafted. When you acknowledge receiving the disclosure, a contract can then be written.
At this point it is required that you wait the state-mandated amount of time before signing the contract. Some states require three days such as Alabama but can be as long as 30 days like in Maine. Once the waiting period is up, a notary appointment will be set up to sign the contract.
Once the contract is signed, it will be moved to counsel. From that point, the counsel will file a petition or request for a hearing. When a hearing date is secured, a notice of transfer is sent to the customer. At the hearing, a judge will either deny or approve the transfer of payments based on the clients best interests.
If the transfer is approved, an order will be received within a few days. The insurance company of the client is then responsible for sending a letter acknowledgment for the payment transfer, and then the client will be receiving their payment.

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