If you have been awarded a sum of money in a structured settlement, then your payout has been set up so that you receive a regular amount of money over a given amount of time. Did you know that you can sell structured settlement payments so that you can access the cash value when you need it most? If you are in debt, then having access to money that is rightfully yours now can make all of the difference to your financial success. At We Pay More Funding, we act as structured settlement buyers, and here we discuss the benefits of selling your payments to get out of debt.
What is a Structured Settlement?
A structured settlement is a type of payment that could be awarded to you when you settle a lawsuit. This type of arrangement offers regular payments designed to support you financially as you recover. This money is paid to you by an insurance company through an annuity that is set up in the plaintiffs name. You might be wondering: Can I sell my structured settlement? The answer is yes. Structured settlement buyers will offer you a lump sum payment in exchange for future payment rights that can help you become more financially stable.
How Can I Get Rid of Debt by Selling My Structured Settlement Payment?
If you sell a structured settlement, you have access to the cash value as soon as the deal is approved. This means that you can access the cash to pay medical debts, mortgage payments, tuition fees, utility bills, and more so that you can get back on your feet again. The money is rightfully yours, so by finding the best structured settlement companies, you can ensure that you receive a fair quote that offers you more. Then, you can use the money so that you can feel more financially secure for your future.
How Do I Know Whether I Can Sell My Structured Settlement Payments?
As long as you have a structured settlement agreement in place, you have the option of selling it. However, there is a process that must be followed, and as part of that process, you must have the courts approve of the sale. This is to ensure that the sale is in your best interests. By working structured settlement companies, they should go through the process with you. Selling your structured settlement payments doesn’t have to be overwhelming, and with companies such as We Pay More Funding, we make it as simple as possible.
How Long Will It Take for My Structured Settlement Payments to Be Sold?
The process of selling your structured settlement can take some time, but there are certain aspects that you can be sure of. The most variable aspect of the process is that which involves the courts, as you need to wait until your case is heard. However, any other part of the process can happen extremely quickly when you work with the right company, such as We Pay More Funding. We offer fast and fair quotes, and get your money to you ina matter of days once approved.
Is It Necessary to Sell All of My Future Payments?
When you decided to sell your structured settlements, you have a lot of flexibility when it comes to how much of them you want to sell. If you are selling your structured settlement payments to cover a debt that you have, then selling your entire payments might be too much. Instead, you can choose to sell just part of your settlement, so that you can enjoy the benefits of having a guaranteed income through the rest of your set payments in the future.
How Does the Selling of Structured Settlement Process Work?
Once you have decided “I have a structured settlement and need cash now”, it is time to start the process. The first thing you need to do is connect with a reputable company that buys structured settlements. Who buys structured settlements? Factoring companies such as We Pay More Funding offer fair quotes for settlements of any size. We assist you throughout the process by helping you with paperwork and assisting you throughout the court process. We then offer you fast cash once your sale has been approved.
Are There Any Risks Involved While Selling My Structured Settlement Payments?
Structured settlement payments offer you a guaranteed income over a set period of time. The only risk in selling your settlement payments is that once sold, you will not have these future payments. The benefit of receiving the value now can far outweigh these risks depending on the situation.
Do I Need a Lawyer to Sell My Structured Settlement?
Given that there is a court process involved in selling your structured settlement payments, it is a good idea to have a lawyer to assist you throughout the process. With structured settlement companies such as We Pay More Funding, we have a team of lawyers prepared to assist in getting the deal completed. We handle everything from preparing the paperwork to appearing in court to help get the sale approved.
Will the Court Approve My Request to Sell My Structured Settlements?
While a court case might sound daunting, asking a judge to approve the sale of your structured settlement payments is something that should not be overwhelming. The reason you have to go before the courts is for the judge to ensure selling your future payments is in your best. Selling your structured settlement payments to cover some debts that you may have could be a sound reason that the court would approve as it will better your wellbeing.
What Documents Do I Need to Complete a Transaction?
There are a number of documents that you need in order to successfully sell your structured settlement payments. Firstly, you need the settlement agreement, proof of identification, release documents, and letters from your insurance company. There may be other documents that you need, but your structured settlement company such as We Pay More Funding can help you in determining what you need to prepare in order for the sale to be successful.
How Much Cash Can I Get for My Structured Settlement or Annuity Payments?
You want to get the highest rate possible for your structured settlement payments. When you work with a structured settlement company, they will offer you a lump sum that will take into account multiple costs and risks to them, so you will never receive 100 percent of the value of your structured settlement. However, you do benefit from having access to the cash immediately. Each structured settlement company offers a different rates. We Pay More Funding offers some of the best rates in the industry, so that you get more of your money on a quicker time frame.
What Causes a Quote to Change Over Time?
Structured settlement companies use a range of factors to determine how much they can offer you for your structured settlement or annuity payments. The biggest factor that affects you is the discount rate, which is the discounted value that the company is willing to pay for your payments. It is essential that you engage in frank discussions with your structured settlement company to ensure that the deal you are making is working out in your best interests.
Why Should You Choose We Pay More Funding?
As you can see, there are many factors to consider when choosing to sell your structured settlement payments. If you have a lot of debt that is becoming unmanageable, then selling your payments can offer the relief that you and your family deserve. Finding the right structured settlement companies provide assurance throughout the process.
At We Pay More Funding, we pride ourselves on offering high-level support to all our clients. We buy structured settlement payments the easy way, assisting you throughout the process from start to finish. If you are considering selling your payments, or have any questions regarding our process, reach out to our team today by calling us at (877) 431-0704.