Selling a structured settlement is quite common among people who don’t want years of small monthly payments. This is because when they sell structured settlements, they get a lump sum amount of money. However, there are various things everyone must remember while selling their structured settlement.
Timeline
The entire process of selling a structured settlement takes around thirty to sixty days. This is why you need to plan ahead, consider your financial situation, and determine how long you can wait to get the cash. Generally, reputed companies like We Pay More Funding won’t make you wait too long, but every company has a different timeline, so be sure to discuss it.
Court Approvals
Whenever you choose to sell a structured settlement, you must remember that the entire process will be overseen by the federal government and you will need court approval. It is actually a benefit for the seller, because the court reviews the documents to ensure you are getting the right value.
Review the Settlement Company
Before you sell your structured settlement to some company, you must conduct proper research about their services. For instance, it’s important to read reviews and make sure they are registered with NASP (National Association of Settlement Purchasers).
Value
You have to consider different factors that determine the value of your structured settlement payments. Some of these factors include the ending year and starting year of the payments, the date of your next payment, remaining payments, and the current dollar value. Moreover, whether the payments are life contingent or guaranteed can directly influence the value.
