Process of Selling Structured Settlement
Filed under: Structured Settlements — Structured Settlements Pro @ 8:33 am
While it is common for structured settlement recipients to transfer some or all of their future payments for cash it is not an instant transaction. There is a process that includes getting court approval to exchange future settlement payments for a lump sum cash payment. There are companies that specialize in guiding you through the process making the transaction easy. The following are some of the typical steps in the process:
1. Sign a contract that outlines the number of payments you wish to sell and the amount of money you wish to receive.
2. Provide any supporting documentation regarding your settlement
3. Schedule a court date to request the approval of the sale of your future payments
4. Attend court and receive the Judges approval for the transaction
5. Receive a lump sum cash payment by check or wire
The process can take 6-10 weeks depending on how busy the courts are at the time of your request.
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