Structured Settlement Georgia – How to Get the Most for My Payments?
As a resident of the state of Georgia, some have questioned what they need to know in order to get the most cash for their structured settlement payments. The good news for Georgia residents is that you are able to sell structured settlement payments in the future and receive cash now with only certain exceptions.
Call Mainstreet Funding at 404-855-3330, your local Georgia source for Structured Settlements, to speak to a representative who can walk you through the process and provide you the best quote or you may review below as we explore how you sell payments in Georgia and the exceptions to the structured settlement Georgia rules that will affect all residents of Georgia.
What is the Georgia Structured Settlement Statute?
The Georgia structured settlement statute is simply a set of rules that must be followed in order to receive cash early from a structured settlement annuity. The rules provide for protection of each annuitant in Georgia to ensure that they are making a good financial situation for themselves. Among the protections under the Structured Settlement Georgia statute provide for a disclosure statement to be provided to you, a waiting period, a cancellation document along with approval from a judge.
The first of the protections is a Georgia disclosure statement.
- A disclosure statement must be provided to each annuitant who wishes to sell payments by the purchasing structured settlement company. The disclosure statement will detail the payments that are being bought, the amount you will receive along with more details on the discount to the full payout. You must acknowledge the receipt of the disclosure statement in order to go ahead with the transaction.
The second of the protections is a waiting period.
- Some might call it a cooling off period. After acknowledging the disclosure statement, you will need to wait 10 days before you are able to sign a contract with the purchasing company. This allows you a period of time to think about the transaction to confirm that you indeed still want to go ahead with the transfer of your payments and receive the cash now.
The third of the protections provided under the Structured Settlement Georgia Statute is a cancellation notice that must be provided to you.
- This cancellation provided directions on how to cancel the transfer agreement within a 20 day period, if you were to change your mind and not want to continue the transaction. This cancellation agreement is also available to use at the hearing if you so choose.
Finally, the Structured Settlement Georgia statute provides that each resident of the state of Georgia who wants to sell annuity payments, must seek approval by a judge.
- The judge will decide in the hearing that the transaction is in your best interest. This allows a third-party to check your transaction to make sure that you are receiving a fair reasonable return for your payments.
So if you are in a situation right now in which you need to raise some money, whether that is because you need to pay some bills, buy a house,
get a car or many other reasons, call Mainstreet Funding. As a Georgia Structured Settlement company we will be able to, not only make this process very easy for you as a Georgia resident, but also provide you the best return for your future payments.
Give us a call locally at 404-855-3330 or toll-free at 877-919-8003.