Structured settlements are typically used to resolve personal injury cases, since the defendant and his or her liability insurer can save between 10% and 30% on the transaction. In fact, U.S. Congress actually adopted specific tax laws to encourage the use of them for that purpose. If you’re receiving structured settlement money but would rather get a large lump sum, you can actually sell structured settlement payments. Here’s how:
1. Know how much your settlement is worth and how much you need.
The first thing you need to do is figure out what the settlement is actually worth. Then you should figure out how much you need from it for your purposes.
2. Find a buyer.
The next thing you need to do is to find a company that will pay cash for structured settlement payments. There are a number of them, so you should do your research and find a couple that seem right for you.
3. Get a quote.
Next, call the companies and get quotes. They might each offer you something different so don’t just pick the first one you find, since you might get a better deal elsewhere.
4. Do the paperwork.
After you’ve gotten quotes and chosen the right company, the next step is to fill out and sign all of the paperwork. Make sure you have your own copies of the transaction for your own records.
5. Go to court.
Many states these days recommend a court hearing before the transaction can take place. In some cases, you may not need to be present, but whether or not you go is usually up to you.
6. Get your payment.
After all of this is done, you can sit back and wait for the payment. Cash for structured settlement payments actually usually come in the form of a check or a money order.
Do you have any questions about how to get settlement money now? Let us know in the comments. Continue your research here: www.sellmyannuity.net See this link for more references.