You were awarded a structured settlement, and after a few years you have decided to sell it and get cash for a structured settlement. The following, are actions that you can take when you want to sell your structured settlement for a cash payment, instead of waiting for periodic payments.
?
- Your financial needs, both present and future, should be the main consideration to start off this process.
You will want to talk to an attorney or a financial
advisor. - The next thing to do will be to get in touch withthe provider of your payments, and find out the amount that is still available, the number of payments left, and your structured settlement?s terms. Also get all of the contractinformation so that you can give it to the buyer.
- How much of your settlement do you want to liquidate? All or just what you need at this point in time.
- While looking for a structured settlement buyer, you want to make certain that the company is reputable and that you are comfortable with the person you are dealing with.
- Don?t jump at the first buyer, make sure to get quotes from several. All factors, including comfort level, experience, and reputation, should be considered before making a final decision.
- Finally, you will sign a contract with the buyer.Make certain that you have your attorney read over thecontract before you sign anything.
?
The rest of the selling process, after you have settled on a structured settlement buyer, is detailed below, to make the transaction as simple as possible.
1. Once you have chosen your buyer, you will need to provide them with some information. The quicker you gather the information, the less time it will take, but the process can last anywhere from two to fourteen days.
The things that you may need to provide are the following
?
- Release/court judgment/settlement agreement
- Insurance or annuity policy contract from the payment provider
- Verification of payments ? bank statement or stub
- Personal information, including ID or driver?s license
- Copy of divorce decree or marriage license (if it applies)
- Any documents discharging a bankruptcy (if it applicable)
- Your Attorney?s information
2.?After everything is in the buyer?s hands, this is a good time to ask them about the underwriting process and how it works. Beware if the buyer says itwill be a short processing time.
3. The structured settlement buyer will give it to a judge, who will review it, once the underwriting process is finished.?The closing costs are another thing you will need to find out about, what they are and who the responsible party is for payment of those costs.
4. You will recieve the structured settlement cash payment if you are approved by the buyer.
Each situation is unique, of course, and this article is just a set of guidelines. And once again, these transactions, selling your structured settlement should be made after consulting with your attorney or financial adviser.
?
No Win No Fee Solicitors
White Wines??
DUI Attorney
No Win No Fee Lawyer
Health Care Option
Source: http://www.jgvfinance.com/finance-articles/structured-settlement-cash/
dadt repeal comedy central roast neal schon neal schon eli manning eli manning new york giants
No comments:
Post a Comment