How To Sell Structured Settlement Payments Quickly.

So what do you do to sell your structured settlement? There are some things that you need to think about before cashing in your structured settlement annuity.

A honest structured settlement annuity payment purchaser must be found.

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.

Talk at length with the company or broker, ask him / her questions and get a feel for how knowledgeable they are. Trust your gut feeling! Steer clear of those who promise much more money or can get it faster than others. If it sounds too good to be true, then it is.

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

It's going to take a minimum of 1 and a half months to 4 months. Anyone saying less time is not to be trusted.

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. Have you dealt with Insurance Companies some are easy, most not so easy. It takes time to get the paperwork from them.

3. What kind of payments do you have (quarterly, semi, annual, or are they a lump sum)? Different funding companies have their own requirements and it's critical for your broker to know these requirements. Do your homework on the company or broker you choose - you will get your money faster and with a lot less hassle.

4 Price for your payments may depend on the rating of the Insurance Company holding your annuity. A company with a lower rating may get less because the profit is lower to the investor.

5. In addition to the above you will need the necessary documentation such as copies of the following: The annuity, the settlement agreement and release, photo ID, recent payment check and application. These are some of the things to consider. For now it gives you a good idea of what's required.

If you add up all the payments and think you are get something close to that figure, your wrong. Why? If you WAIT for your payments, you will get that amount. Your NOT WAITING, someone else is. They want a profit and they have to wait to get their money back, they gave you. $120. paid today is worth $120. $10. a month paid for 12 month is not worth $120. today. Its worth $120. in one year when you get all the payments. This called the time value of money and to many its confusing. Look at other sources for money like family, friends or a bank loan.

Now that you have decided to sell your structured settlement you will need to take some things into consideration. Ask yourself? Is there going to be a tax consequence? As of January 23, 2002 a new law that governs such sales, does not impose any tax liability for selling a structured settlement.

Another thing when selling your payments, is selling only a portion. Sell the payments 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 your structured settlement payments in the future .

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