Structured Settlement Buyer

Can I Sell to a Structured Settlement Buyer

If you have a structured settlement that is stemming from a lawsuit settlement which generally did not involve an injury at work, then the answer is yes. A structured settlement buyer will provide you a lump sum of money in exchange for periodic payments you are scheduled to receive in the future from your structured settlement or annuity. When issues arise that you are not prepared for including huge bills or  expenses, a cash payout from your annuity could be the the solution which will allow you to avoid financial collapse. Sometimes people are interested in buying their dream home, and need a large sum of cash for the down payment. How about the tuition for college for your kids? Would you like to pay off your bills? Do you have an interest in starting your very own company.

If any of these are true, then a structured settlement buyer can get you the cash that you need to help you achieve a wide range of financial goals.

How long does it take to receive the money from the transaction?

How quickly a structured settlement buyer can get you the money depends on numerous different factors such as paperwork available, the state the annuitant lives in along with the expediency of the local court. Each transaction must follow certain guidelines that are setup in each state that govern the transfer of structured settlement payments to a structured settlement buyer. These guidelines lay out the process which includes a disclosure, a contract, a court order from a judge and in many cases an acknowledgment from the insurance company. Part of the process is to provide the necessary documentation to the structured settlement buyer. The quicker this information is provided the quicker the transaction will completed. The second factor that affects the timing of payment is the state where the annuitant lives. In each state, there is a waiting period between the time someone receives a disclosure and the time the annuitant can sign a contract. This waiting period varies from 3 days to 10 days. Once the contract is executed, then the company can start the process to get the transfer approved by a judge. This period is quite an unknown as the courts keep their own schedule and depending on the number of cases before the court at that time will determine how quickly the judge can see the case.

What documentation do I need to provide to the structured settlement buyer?

There are standard documents that each annuitant must provide to evidence the annuity that they received from a lawsuit settlement. The main document needed is an annuity contract which provides the payment stream along with the company that is providing the annuity. The second document that you will be asked to provide is the settlement and release agreement. This document is the court related document that you signed when you settled with the defendant. This document shows that the case has been completed. You will also need to complete an application along with providing identification and any ancillary documents that may be applicable, such as married certificate, divorce decree or bankruptcy discharge documents.

A structured settlement buyer can walk you through this process and get you the money you need when you need it whether that is now or down the road when life changes.