There exists some misconceptions in the market about selling structured settlement payments. Some of the misconception are that it is too expensive to sell payments or it is too hard to sell payments or maybe even that it will take too long. We will walk through these structured settlement misconceptions and show you that selling payments does not have to be expensive or difficult to complete.
Misconception #1 – Costs too Much to Sell Structured Settlement Payments
First, let’s discuss the number one misconception about selling structured settlement payments. Many think it has to be expensive to sell structured settlement payments. This was once true, but not anymore. Back in the 90s and up to recently, there were only a hand full of companies and they could charge high rates to people selling payments. With Mainstreet Funding, this is no longer the case. Entering the market in the last 5 years, Mainstreet Funding has helped make a dramatic change by providing rates much lower than our competitors. For example, we recently offered a man over $10,000 more for the same payments another company wanted to buy. We are able to offer great deals because we have cut the costs out of the transaction to make sure you receive the most for your payments.
There were stories written, about a company up north, averaging rates in the high teens. Rates that average in the high teens is just not fair or reasonable. Since this is their average, that means many of the deals they quote have rates that are over 20%. These rates are entirely too high for selling your structured settlement payments. Matter of fact, if the rate being charged to you is greater than 15%, you should keep looking. Mainstreet Funding consistently provides rates that are much lower than our competitors. This means you keep a lot more of your money in your pocket. Considering the amount of effort that went into getting your settlement, you should be able to keep as much as possible. Not only is the cost of selling a misconception, some have said that it is too difficult to sell structured settlement payments. Call us today at 1-877-919-8003 for your free no-obligation quote.
Misconception #2 – It is Hard to Sell Structured Settlement Payments
It is reasonable to think that is hard to sell structured settlement payments, because it may have been hard to settle the original lawsuit. Working with a company that has deep roots in the industry, like Mainstreet Funding, you are ensured that you have an easy and smooth process. Mainstreet Funding management has over 15 years of expertise in the industry. This ensures that there will be no surprises or unnecessary delays. Our process, here at Mainstreet Funding, is designed to give the fastest possible closing of your transaction. We will take care of the process, so that you can sit back and wait for your money. The process for closing your transaction is generally as follows:
- Provide and agree upon a great deal
- Complete an application
- Mainstreet Funding will give you a disclosure statement
- Submit proof of your annuity to Mainstreet Funding
- Execute a Transfer agreement
- Mainstreet will take care of submitting ever
- Attend a hearing for a judge to approve your transaction
- Receive your funds
Mainstreet Funding provides you top-notch support at every point in the process to ensure a smooth and easy transaction for you.
Misconception #3 – It Will Take Too Long to Sell My Structured Settlement Payments
Selling structured settlements does not have to take long. However, we are required to receive a judges approval in order for you to sell your payments, so there is the time required to get the judge to approve the transaction. Our process allows an immediate submission to the judge as soon as we receive your signed agreement, so you will have the earliest possible hearing date. The longest part of the process, to sell your payments, is waiting for the hearing date. This is set up solely by the court, so we are subject to the courts schedule. However, you should expect to be in front of a judge in 30-45 days after signing your agreement and receive your funds the week of the hearing, in most cases.
Call us today at 1-877-919-8003 for your free no-obligation quote from one of our friendly and helpful structured settlement specialists.