Want To Sell Your Structured Settlement Payments Quickly.

What do you need to know to sell your structured settlement annuity?

A company or broker has to be found, who deals with the sale of structured settlement annuity payments.

Find out how long the company or broker has been in the structured settlement industry. Given the level of difficulty in the industry, the company or broker should have a solid background.

You should also consider checking to see if there are any lawsuits being filed against the company or broker. - contact your local Department of Consumer Affairs.

Engage the company or broker, ask questions, lots of them. Find out if they seem to know what they are talking about or at least bright enough to get back to you with answers. If you feel you are being double talked or they can do everything better than anyone else, look for someone you feel you can trust.

How long will it take to get the Structured Settlement Money?

If you have been told that you can get your money within a few days ? do not commit! In fact, it may take a month and a half or longer depending on the following:

1. You need a judge to sign off on this. If his court is very busy, it can take a couple of months. You are taxed 40% if you DON'T have Court approval. This to protect you.

2. The Insurance Company ? This includes both the issuer and the owner of the annuity. These things do not happen overnight. It takes time when dealing with companies.

3 An expert broker or a company that knows the different funding companies and their requirements will save you time and effort.

4. Check your Insurance Companies Rating? Make sure the Insurance Company has an A rating! Ultimately you will get a higher profit margin when your settlement is sold to larger financial companies. If a company has a lower rating then they may have to sell off settlements at a lower profit margin resulting in a lower price to you.

5. Copy of the annuity, the settlement agreement and release, photo ID, recent payment check , application, any child support payments out standing and ect. are what are required. You get the idea of why you need someone who knows what they are doing.

What will Cashing Out Cost Me? Most likely you are going to be some what disappointed in the amount you receive. Total up all the remaining payments and know that cashing out will offer you much less than that. They based the structured settlement on a certain amount of money put into an annuity and then that principal amount, plus interest paid out, equaled the settlement amount. Consider other options before selling your payments.

You have decided to sell your structured settlement and some questions to ask yourself. What about taxes? As of January 23, 2002 a new law says no tax liability for selling a structured settlement.

When selling your structured settlement, think about selling only a portion that will meet your current needs, and leave the rest in an annuity so that you will still receive some sort of monthly income. A financial emergency or other unexpected expense may come up requiring you to access and sell a structured settlement payment in the future.

Selling structured settlement payments now, can result in financial problems down the road. So be careful.