Are you receiving payments through a structured settlement? If so, you may be wondering what your options are for the future. You may be able to sell your structured settlement and receive a lump sum of cash now. In this article, we will discuss some things I considered to sell my structured settlement and what you can expect from the process if you decide to do the same.
Evaluate Your Needs and Decide If Selling Is the Right Option for You
The first step I considered in deciding whether or not to sell my structured settlement was to evaluate my needs. So ask yourself these questions. Are you facing a financial emergency? Do you need a lump sum of cash for a major purchase or investment? If you are selling for reasons other than these, you may want to consider other options first.
Research Companies That Buy Structured Settlements
Once you have decided that selling your structured settlement is the right option for you, it is time to start researching companies. There are a few factoring companies that specialize in buying structured settlements, such as We Pay More Funding. You will want to research each company and compare their offers. Make sure to read Google reviews and check with the Better Business Bureau before making a final decision.
Get an Estimated Value for Your Settlement
The next step is to get an estimated value for your structured settlement. The company you choose to work with will give you an offer based on, among other factors, the payments you are receiving and the length of time left on your settlement.
Sign Paperwork and Seek Court Approval
Once you have chosen a company and agreed to their offer, you will need to sign some paperwork and seek court approval for the deal. If the deal is approved the rights for your future payments will be reassigned to the structured settlement company that you sold to, and they will give you the agreed upon lump sum in exchange for them.