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

A structured settlement is a lump sum payment that`s created after a personal injury or wrongful death lawsuit. The money can be used to buy a home, pay off high-interest debt, or provide cash for other expenses.

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

Judges evaluate every transfer to determine whether the sale is in your best interest 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

If you want to sell your structured settlement, you need to get court approval. 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.

A judge will review your case to ensure that the sale makes sense for you and your family members. The judge will examine your financial situation and determine how the sale will impact you in the long-term and short-term.

For example, if you`re selling a structured settlement to provide for a child, you`ll need to make a compelling case that selling is in your child`s best interests. In addition, you`ll need to be able to prove that your child has a current and ongoing 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 can help you get the cash that you need, when it is most needed.

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.

As with any transaction, it`s important to shop around and choose a quote from a credible, reputable and affordable company. It is important to compare their low discounts and other buyout options as well as the quality of their customer service.

Lump Sum Payment

Selling your structured settlement is a great option if you require a lump sum. 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 reduce fees and ensure that you get a fair price.

When it comes time to sell your structured settlement, prepare for a long process that involves several steps. Be sure to research and get quotes from multiple reputable companies.