If you are deciding to look into selling your structured settlement, it can be a very confusing process. Believe it or not, some companies do this on purpose. Their goal is to confuse you and make the process difficult so you don’t realize you’re getting taken advantage of.
One of the best things you can do before selling your payments is research. Look at what various companies can offer you. Never settle for the first thing that comes to you, you could be missing out on a lot of money! So do your research, call them up, and explain what you want. Don’t let them tell you what you need to do- it’s your money and you control it. Once they understand the situation, they will provide a quote. If you choose to accept the quote, to begin the transfer of structured settlement payments, you will have to provide a benefits letter or call the company that handles your annuity to verify your payments. The payments are verified, and depending on what kind of payments they are (possibly life contingent), you may have to fill out a questionnaire. While this is happening, the company is working hard to file the necessary paperwork and get a court date as soon as possible to get the money to you. Most of the time, you don’t even have to appear in court. When the court date arrives, if you do have to appear, you have to show need or give an explanation as to why you need your structured settlement funds now. The judge will decide if this is in your best favor or not. You will be either approved or denied. If approved, the transfer of funds can happen almost immediately. We can offer our customers a direct wire of funds while others make you wait for a check to come in the mail.