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Can You Sell Your Structured Settlement Payment

You may or may not be able to sell your structured settlement. There are some immediate disqualifiers that you should be aware of before you even apply, as this can save you time and not leave you waiting for an answer. Here are some things you should know before you apply to sell your structured settlement.

What Won’t Work

There are some annuities and structured settlements that you cannot sell. They include the following and, without exception, you cannot sell these.

You cannot sell payments that are due to a minor child. This is because minors are not allowed to enter into legal or financial contracts and, hence, they cannot choose to enter into an agreement to sell their structured settlements.

You cannot sell social security, VA disability or VA pension payments. These are not eligible under any circumstances.

You cannot sell payments that you receive from Worker’s Compensation. Again, there are no exceptions to this rule.

You are also prohibited from selling settlements that come from TIAA CREF payments and most other disability payments. If you’re not sure, you can always contact us and let us know what you want to inquire about selling.

What Will Work

You can sell payments that come from insurance companies. For instance, if you’re being paid an annuity because of an injury and it’s being paid out by an insurance company, you most likely can sell that for a lump sum.

You can also sell payments that come from a lawsuit. These, in fact, are among the most popular structured settlements that people want to sell. Oftentimes, whatever money was received as a result of the settlement is money that the recipient needs right away and, because of this, many people choose to sell these settlements off so that they can get their money and, to put it in the bluntest terms, be done with it once and for all. This allows them to get their money and move on from whatever was the cause of them receiving these settlements at all.

If you have another type of structured settlement that you’re interested in selling, again, you can contact us or just fill out the form and apply. This will allow us to take a look at your settlement and see if it is eligible.

My Settlement Says I Can’t

You might have language in your settlement that implies that you cannot sell it. Don’t fret, as this isn’t actually the case in many instances.

You may be able to sell the settlement if a judge finds that you have a compelling reason to do so. If you’re in dire straits and you really do need the money, the judge can overrule this language and allow you to sell you settlement so that you can get the cash that you need.

There will be a hearing involved with this, of course, and the judge will ultimately be the one who decides if you have the option to sell. If you do, you can disregard the language that makes it seem like you cannot sell them.

What if I’m Going Bankrupt?

Some people need to cash out their settlements because they are in the worst imaginable financial situation: bankruptcy. You may still be able to sell your structured settlement, but it will require additional work.

First, you’ll have to allow us to contact your legal counsel in your bankruptcy or your trustee to discuss the matter. We’ll need information that only they can give us.

There may be extra fees involved in doing this work, so make sure you let us know when you fill out the form if you are involved in a bankruptcy. Rest assured, however, that we will do our best to see if there is a way that we can help you in this tough time.

If You’re in a Rush

We’ll process your application as quickly as possible and you’ll generally have your answer within 48 hours, but mostly likely much sooner. You’ll have a specific amount of time to decide whether or not you want to accept our offer and, if you do, the process of getting your money is underway.

If you’re in a rush and you have questions that are preventing you from getting started, contact us and we’ll make sure you have all the answers that we can provide so that you can get started on getting the money for you settlement.

If You’re Not Sure

Most structured settlements and whether or not they’re eligible have already been covered in this article, in our FAQ and on the other pages on our site. If you have additional questions or if you don’t believe that the information you’ve found applies to your case, be sure to contact us with any questions that you have.

How Will I Be Informed During the Process?

You will be kept informed of your status during the process. When your application is approved, you can contact us at any time to see where you stand. Usually, the court will be able to process everything within 30 days, so you should not be waiting long to receive the money that you need.

There may be some discrepancies, depending upon which state you live in, as they all have their own laws in this regard. Most of the time, however, you should have your money within 6 weeks and the entire process will be complete.

As was stated, there are some types of settlements that are not eligible to be sold. Many, however, are and you should investigate the possibility if you’re not sure whether not you can sell your settlement for immediate case. All you have to do to get the process started is fill out our form and send in your application. From there, the process will be underway but, remember, you’re under no obligation to take a quote, so there is no risk in filling out the form and seeing if you can take advantage of the benefits of selling your structured settlement.

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