Have you talked to a purchasing company about selling structured settlement payments in Massachusetts? Are you looking for information about selling your structured settlement payments in Massachusetts? Keep reading for more information about the rules for selling your payments in Massachusetts.
What are the rules for selling structured settlement payments in Massachusetts?
The first rule that all purchasing companies have to follow is, providing a disclosure statement. After you have agreed to a quote for your structured settlement payments, the first document you should be sent is a Massachusetts disclosure statement that lists:
- The annuity payments you have agreed to sell
- Dates of the payments you have agreed to sell
- The amount the purchasing company has agreed to pay you in exchange for the structured settlement payments
- The disclosure statement will also include other information required by the rules for selling structured settlement payments in Massachusetts.
The rules also require that a company, like Mainstreet Funding, sends you the disclosure statement no less than 10 days before you sign a contract to sell your structured settlement payments in Massachusetts.
Why the ten-day waiting period for selling payments in Massachusetts?
- This rule is primarily for your protection – you might have questions to ask the purchasing company after you have received the disclosure statement.
- This mandatory waiting period also gives you the opportunity to research the purchasing company and make sure that you have know the history of the company. Look at the Better Business Bureau rating along with reading the complaints. Prepare yourself so you can have a great experience.
I have heard that some states require independent professional advice. Do the rules for selling structured settlement payments in Massachusetts require that I get independent professional advice?
Typically, No. The rules for selling structured settlement payments in Massachusetts say that the right to receive independent professional advice can be waived.
What can I expect when I sign a contract to sell my structured settlement payments in Massachusetts?
The rules for selling structured settlement payments in Massachusetts require that anyone who wants to sell structured settlement payments get approval from a district court judge in Massachusetts. In order to get approval from a judge, a petition must be filed with the court. The petition is the document that presents your case to the judge and asks for approval for selling structured settlement payments in Massachusetts. When you sign your contract with Mainstreet Funding, we let you know up front what documentation we need in order to file your petition. Once we’ve received your signed contract and any other necessary documents, we will file your petition and request a hearing with a district court judge in Massachusetts.
I have heard that some people have waited a few months for their hearing date. How long will I have to wait before my hearing?
The hearing date is one of the elements of the structured settlement transfer process that neither you nor Mainstreet can control since it’s based on the judge’s schedule. We do request the earliest hearing date possible, and we’ve had customers in Massachusetts who have signed a contract at the beginning of the month, had their hearing, and have received their money by the end of the month. Typically, the structured settlement transfer process is 45-60 days from start to finish.
We have pricing specialists ready to answer any other questions you might have about selling your structured settlement payments in Massachusetts. If you’re interested in selling your structured settlement payments, please call us at 1-404-939-0029. We would like to offer you a free, no-obligation quote. You can even fill out a quote request right here on our website.