Pointers for Selling Structure Settlement
Selling your structured settlement or annuity can give you the opportunity to fix the problems you have or make your future brighter. Don’t do it for random reasons, though, but at times when a large lump sum is more beneficial than receiving payments over many years, go right ahead.
Selling your structured settlement makes sense in any of the following scenarios:
> To avoid foreclosure or buy a new home
The bi-yearly or yearly payment may be insufficient to prevent a foreclosure, and selling your settlement may could provide the money you need. Your yearly or bi-yearly payment may fail to save your home from foreclosure, and selling your settlement can be the solution that will give you the cash you need. Or remodel your current home. Getting access to a big lump sum can help you handle many tough circumstances.
> To open or expand a business
Selling your structured settlement can also help open or grow a business.
> To save cash for college
The best time to prepare for the future – yours or a loved one’s – is now. Getting access to a large lump sum offers you a chance to grab more valuable opportunities.
> To pay off debts
If you have been left with hospital or rehabilitation bills, selling your structured settlement can come in handy.
> To make financial investments
When you have the cash to invest, you can do anything you want with it and make it your slave. The control of the money is yours, and that means you can seize opportunities as they you’re your way.
Selling Your Payment
Most people do not know the process of selling a structured settlement. That’s why it’s extremely important to do some homework before taking the leap and signing over your annuity.
Getting the Most from Your Annuity Sale
After deciding to sell and determining when it is right to do so, start checking out different companies that will trade cash for your settlement.
> Contact the company you have chosen and speak to a knowledgeable representative. They should provide most – if not all – the answers you seek.
> Read and understand the fine print. Rushing to the close is never wise to do, whatever new endeavor you begin. The company must be reachable to you at every stage of the process, and even after it.
> Book a date with the court to get a judge’s approval on plan to sell. You will have to make the judge understand why you need to sell your structured settlement.
After learning about the entire process, you can decide more wisely as to whether or not you should sell your structured settlement. And when you do sell it, do it in a way maximizes your gains from the sale.