More about Structured Settlements and Annuities

What to look for when choosing a company to sell your Structured Settlement or Annuity

Every company approaches the process of buying structured settlements or annuities in their own way. Bu and large, most of the TV and internet-based companies simply provide you “Free Quote”. If and when you decide to accept their quote in writing, and the applicable “waiting period” or “cooling off period” per your State’s laws expire, the company will then seek court approval to finalize the transaction and get you your lump sum. Be aware that  many companies say they can get you money right now, but the simple reality is that the sale of your structured settlement or annuity requires court approval which can take up to 4 to 6 weeks or more depending on how quickly the proper documents are gathered and prepared and how quickly the Court acts. The Court’s calendar comes into play here because depending upon the number of cases in a particular Court; this could delay or speed up the time it takes for your case to be heard before a judge.

When you select a company, make sure that company is willing to take the time to answer all of your questions and work with you to explore all of your alternatives and options before you make your final decision to sell or not.  Getting a “Free Quote” is relatively easy, but it is much more difficult to determine if selling your structured settlement or annuity now is right for you. Selling your annuity or structured settlement is a big decision. You really need to make sure you are making a wise financial decision in light of your own personal circumstances.   It is imperative that you do your homework, and hire a company of professionals that you know is giving you the information and tools you need to make your own informed decisions.  If you get any sort of feeling that  you are being rushed to make a decision to sell, only ever deal with telemarketers, or sense you are being pressured to sign a written agreement you do not fully understand or know to be in your best interest, then, you are probably not working with the right company for you.  Once again, make sure you do your homework and gather as much information about the company and its track record in handling these types of cases before you agree to or sign anything.

You will find that almost every state that permits the sale of structured settlements or annuities has laws which govern how such sales or transfer transactions must be done to be legally recognized and properly completed.   Be mindful that even though each state has its own rules, the laws are universally written to provide protection to people who may choose to sell their structured settlement or annuity.   Do to the fact that the marketplace for selling structured settlements and annuities is largely unregulated; state legislatures have stepped in to try to ensure that fair practices and court approval are required by law whenever structured settlements or annuities are sold. This protection serves to aid you in making a wise, well thought out decision on whether to sell your settlement or annuity. Do your homework and see what information is freely provided and available to you in accordance to which state you live in prior to making a sale of your annuity or structured settlement.