Guide to Selling a Structured Settlement
Settlement Quotes (SQ) will provide you with 4 lump-sum quotes from top structured settlement funding companies in the industry. This will allow you to receive the most cash for your future structured settlement payments. The following list is the process to receiving your lump-sum of cash.
1) The first step to selling structured settlements would be to find out the exact of amount of money that you need to cover your financial expenses. Many people use the lump-sum of cash they receive to pay off their outstanding debt, purchase a home. or send a child to school.
2) After calculating the estimated amount of money, it is time to find out your exact payment details. This information can be found on your annuity policy if applicable. This information includes the insurance companies name, policy number, and payment information. You will need to calculate how many payments you receive in total including the lump sum amounts. (Example- 97 payments of $650 from MetLife)
3) The next step would be to fill out the short form to the left. We will then be able to estimate the present day value of your future payments allowing us to start the bidding war with our network of structured settlement annuity buyers..
4) After the competing companies have completed their assesment and provided us with you quotes will contact you with the best offer.
5) The next step is to decide which payments you would like to sell. Remember it is always cheaper to sell the payments closest to today's date. This will keep the discount rate to the minimum, but this is completely up to you to decide.
6) Once you are happy with your quote, payment information and the entire deal, documents will be sent to you to be signed. These documents need to be read carefully to be sure everything is the same as discussed with the funding companies representative.
7) After the documents are returned to the funding company, the underwriting process will begin. This usually takes between 3-5 weeks to complete. The longest part of this process is acquiring a court date from the state the case was settled in.
8) During the court process the judge will review the case to make sure the transfer of structured settlement payments is in you, and your families best interest. He will then approve the transfer agreeing that it is in your best interest to receive cash for structured settlement payments.
9) Following the court approval you will receive the money in your bank account the next day.
The entire process takes between 6-8 weeks to complete. If you would like to receive your free quotes today, please complete the form to the left.