If you`ve been receiving a structured settlement payments and are in need of cash now, you may want to consider selling your 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. Federal and state laws are in place to protect you from untrustworthy buyers who will try to exploit you.

Legal Process

Structured settlements are lump sum payments that are made after a lawsuit for personal injury or wrongful termination. The money can be used to buy a home, pay off high-interest debt, or provide cash for other expenses.

When you`re ready to sell your structured settlement, you need to make sure the sale is legal. This involves court approval.

Judges evaluate every transfer to determine whether the sale is in your best interest and fair and reasonable. They look into the purchasing company`s history, your current payments and any previous 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. To learn more about the legal process of selling your structured settlement, contact Liberty Settlement Funding today. We can help get you the cash you need, and guide you through the court approval process.

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Court Approval

You need court approval to sell your structured agreement. This is required under federal law and state structured settlement protection acts.

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.

To ensure the sale is in your best interests, a judge will examine your case. He or she will review your current financial situation, and how the sale will affect you in the short-term and long-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. You will also need to show that your child has a continuing and current need for cash.

Factoring Companies

You may have seen television commercials that invite you to sell your structured settlement for “cash now.” A factoring company buys your future payments in exchange for cash upfront. Factoring companies can help you get the cash that you need, when it is most needed.

These are a great way to address short-term financial issues and take the guesswork out planning. However, make sure to shop around and find the best discount rate for your situation.

It`s important that you shop around to get a quote from credible, reputable, and affordable companies. This involves comparing their low discount rates and other buyout options, as well as the level of customer service they offer.

Lump Sum Payment

When you need a lump sum, selling your structured settlement can be an excellent option. This is especially true if your current payments don`t meet your financial needs, or if you have a large medical bill to pay or a home to buy.

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.

To make the most of your settlement, be sure to set a budget and plan how you will use the money. 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.