Sell Your Structured Settlement

The What, How and Why of Selling Structured Settlement Payments

Are you interested in selling all or part of your annuity in exchange for an immediate lump sum of money? If you are currently in the process of contacting a purchaser of structured settlements, the first (and arguably most important) thing for you to do is that you make sure to receive a quote in writing in the form of a “disclosure statement.” Simply put, a disclosure statement is the exact amount of your incremental payments you will be selling, how much money you will be receiving from your chosen purchasing company, and finally any and all fees that are associated with the transaction.

Lump Sum Funder stands out from other purchasing firms for a multitude of reasons. We never try and slide any hidden fees into the quotes we send out to our clients. Other firms routinely nickle-and-dime funds out of your transaction in the form of hidden “unforeseen” expenditures including attorney fees, processing bills, and other miscellaneous costs. We guarantee that the amount stated in your disclosure statement is the amount that you will receive. Lump Sum Funder proudly stands by any quote we offer over the phone and will immediately send it to you in writing in your disclosure statement.

What are Structured Settlement Payments?

Structured Settlement Payments are most commonly received as compensation for a personal injury, wrongful death or malpractice suit.  On occasion, they payments are inherited by a beneficiary of a structured settlement recipient.  Whether the payments are compensation from a lawsuit or an inheritance, what makes them distinct is the fact that they are payments received over a period of time.  The payments can be paid out in various ways but more often than not they are either monthly payments, annual payments or quarterly payments.  The payments are to be made to you at some point in the future.  Due to the way structured settlements are set up, individuals often need the assistance of our company to help them receive money needed now rather than waiting for the payments to be paid out in the future.

How can you sell Structured Settlement Payments?

We have several indivduals with structured settlements call our company to explore what options are available when it comes to selling structured settlement payments.  Individuals often ask about contacting the insurance company or structured settlement group that originally helped them and asking for the structure to be undone.  Unfortunately, neither the insurance company nor the structuring company will allow you to change your mind or reverse your structured settlement.  Once the structured payments have been scheduled, they cannot be fast forwarded for a lump sum.

Another solution individuals often explore is whether or not they have the ability to use their structured settlement payments as collateral in order to take out a loan from a bank.  Again, this option is not viable.  Unfortunately, a bank will not allow you to use structured settlement payments as collateral for a loan.

As a result of the previous two options not being viable, the last and really best option is to sell your structured settlement payments to a structured settlement purchasing company in exchange for a lump sum of cash.  In order to accomplish this, individuals just have to call the professionals at Lump Sum Funder and tell us a little about the payments you are scheduled to receive.  We can work with you to develop the perfect plan whether it be selling all of your structured settlement payments or selling only a portion.  Once you have made a decision to move forward, we will issue a disclosure statement followed by a brief waiting period and then a contract.  The process will involve obtaining court approval of your transfer in order to avoid potential tax consequences.  The professionals at Lump Sum Funder are experts at the process and will make it extremely easy on you.

Why do individuals want to sell their Structured Settlement Payments?

Our clients come to us for various different reasons, all of which are important reasons.  Some of the more prominent reasons for selling structured settlement payments are to purchase a home, purchase a vehicle, pay for school, pay off current debt or pay for medical expenses.  Lump Sum Funder can help you receive the lump sum of money you need now regardless of your reason for selling.  Call our professionals today so we can work out the perfect financial solution for your lump sum needs.

A structured settlement buyout will allow you to hit the reset button on your fiscal space in life. It is a very serious move and needs to be analyzed from all sides.

Possible Drawbacks of a Structured Settlement

While there are many upsides and advantages to having a structured settlement, there are a few downsides that can come as a result of receiving an incremental payment. Once agreed to, the claimant is bound to the terms of the settlement. These terms cannot be changed at any later date; if a stream of payments does not meet an individual’s fiscal requirements one of the only options is to then sell their payments to a purchaser of structured settlements.

What is the Periodic Payment Settlement Act (PPSA), and how does it apply to me?

The Periodic Payment Settlement Act supports the use of Structured Settlements as a way to provide tax-exempt, long lasting fiscal security to individuals and victims that have been injured in different types of accidents. This Act allows for claimants to exclude any funds accrued from sicknesses and physical or bodily injuries.

Familiarize yourself with the laws about selling Structured Settlements.

In many states it is required that you appear in court in order to obtain the right to sell your structured settlement payments for a lump sum. Different territories have different regulations regarding the process of selling your incremental payments and if not followed correctly, your transaction may be denied. Lump Sum Funder has the experience and industry knowledge to bring the process of selling your payments to a successful conclusion. Our professionals will assist you throughout the entire journey, from first contact until you money is safely in your account.