You might consider selling your structured settlement if you are no longer receiving payments from the settlement. Structured settlements provide a stream of stable, tax free payments that can help you overcome financial hardship and achieve your goals.

However, selling your structured settlement should be a carefully considered decision. To protect you against untrustworthy buyers looking to exploit you, both federal and state laws exist.

Legal Process

Structured settlements are lump sum payments that are made after a lawsuit for personal injury or wrongful termination. You can use the money to purchase a home or pay off high-interest debt.

You must ensure that your structured settlement sale is legal. This requires court approval.

Every transfer is evaluated by judges to determine if it is in your best interests and fair and reasonable. They review the history of the buyer company, your current payments, and any requests for a sale.

Although selling your structured settlement is a great way of accessing the funds you need to attend an important event or other important events, it`s important to fully understand the process before making a decision. Liberty Settlement Funding can help you learn more about how to sell your structured settlement. We can help get you the cash you need, and guide you through the court approval process.

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Court Approval

You need court approval to sell your structured agreement. This approval is required by federal law as well as state structured settlement protection laws.

You need to be patient as the process can be complicated. Generally, you`ll be required to attend a hearing and provide proof that the sale is in your best financial interest.

To ensure the sale is in your best interests, a judge will examine your case. He or she will review your current financial situation, and how the sale will affect you in the short-term and long-term.

If you are selling a structured settlement for the purpose of providing for your child, you will need to prove that it is in your best interest. You will also need to show that your child has a continuing and current need for cash.

Factoring Companies

There are likely to have been television ads that encourage you to sell your structured settlement in order for “cash now”. A factoring company will buy your future payments and pay cash upfront. Factoring companies are regulated and competitive businesses that can help you get the cash you need when you need it most.

They are an excellent option for addressing short-term financial needs and take the guesswork out of planning. However, make sure to shop around and find the best discount rate for your situation.

It`s important that you shop around to get a quote from credible, reputable, and affordable companies. This involves comparing their low discount rates and other buyout options, as well as the level of customer service they offer.

Lump Sum Payment

When you need a lump sum, selling your structured settlement can be an excellent option. This is especially true for those who have large medical bills to pay, or need to sell a structured settlement.

A lump sum payment can give you more control over how you spend your money. You can decide to sell a full structured settlement, or a percentage of your payments, or you can sell a combination of both.

Set a budget and plan how to spend the money in order to get the best settlement. This will help you minimize fees and ensure you receive a fair price.

You should expect a lengthy process when it comes to selling your structured settlement. Be sure to research and get quotes from multiple reputable companies.