Guide to Selling a Structured Settlement

Many people throughout the world have structured settlements or annuities with the desire of turning these future payments into a lump sum of cash. In other words they wish to sell their future or periodic payments.

This is SSQ’s official guide to selling structured settlements.

1) Determine the exact amount of money that you need and the reason that you are cashing out your fixed income.

2) Next you need to find out your payment details. This can be accomplished by calling the company or entity that is making your periodic payments (usually an insurance company). For example, they will state you are receiving 146 additional payments of $500 per month.

3) With the payment details established, you will be able to estimate the total amount left to be paid. Most structured settlement factoring companies customize the payment plans for their clients. Perhaps you would like to sell the first half of your payments and keep the second half for some fixed income.

a) Discount rate- As defined by Wikipedia: The discount rate is based on the

future cash flow in lieu of the present value of the cash flow.

b) There are varied discount rates associated with each payment plan that

you choose. The payments that are further away will have a higher

discount rate and are worth less money.

4) After deciding which payment plan best suites your needs, it is time to find an ethical and trustworthy structured settlement factoring company.

a) Shopping around has been the most effective way to receive the most money for your structured settlement payments. Log on to this site to see the information needed to process your structured settlement quote.

5) As you begin to receive quotes from the factories settlement companies, it is a good idea to obtain your annuity contract from the insurance company or entity making your payments. This step is necessary to secure the quote from the structured settlement factoring company. It is always good idea to get a second opinion from a financial advisor. This is not required but recommended.

6) Once you begin to receive quotes from the factoring companies it is a good idea to check the Better Business Bureau to find out if there have been any complaints against any of these companies.

7) Once you have chosen a factoring company an interview process will occur and several documents will be required to begin the process. Specific information about your structured settlement will be needed. The process can be facilitated much quicker if all the information is collected prior to the interview process. At the minimum this takes between 3 to 10 days.

8) Once the factoring company receives the documents, the underwriting process occurs. This takes between three weeks and several months to complete.

9) Upon completion, the factoring company submits the settlement to the court where a judge will approve or disapprove the transfer of payments based upon the client’s best interest. The factoring company typically covers the fees associated with this process. You are under no obligation to go to court with the factoring company, however seek the advice of your financial advisor as each case is unique.

10) Once approved, arrangements are made with the factoring company for the transfer of your funds.

Andrew Cravenho
Get cash for Structured Settlements. Each client is given four quotes and bids for their structured settlement, annuity, and lottery winnings.

Feel free to contact us with any questions if you need to Sell a Structured Settlement.