Structured Settlement 

There are many good reasons to sell structured settlement payments, including paying off debt such as credit cards, medical invoices, maybe you need cash to start a business or possibly cash to pay tuition. When you settled the lawsuit there was probably no consideration for the need you have now to sell your payments. So what do you do if you have annuity payments from a lawsuit settlement but you need cash now instead? Most people who approach us to sell their annuity payments have a need for getting money early, however don’t know how it works or how much they will get for their payments. Everyone should know that they options when selling their payments also what documents they will need to sign  and finally the process that takes place to get you your money. One of our experienced, knowledgeable and friendly representatives here at Mainstreet Funding can help you through the process. Give us a call at 877-919-8003. We have also provided this guide to help you understand the process to sell structured settlement payments.

You have options when you want to sell structured settlement payments

Most people do not understand that selling a structured settlement comes with many different options.  Each annuity is different so how one person would sell their structured settlement payments may be quite different from another person. The annuity can be viewed as a pie that can be cut up in any

way that fits your particular needs and future goals. As an example, you could decide to sell a small amount of the monthly annuity payments for a ten-year period of time or possibly sell all of the payments over the full term. Maybe you will look at selling all of each payment for a particular period of time like ten years.  You have many different options when you choose to sell annuity payments, so it is important to speak with one of our expert here at Mainstreet Funding  who have the experience and know-how to help you design a plan to get you the money you need now while ensuring you have money in the future to cover any additional income needs.

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What is Necessary to Sell Structured Settlement Payments?

Although all structured settlement companies must follow the same rules in order to assist you to sell structured settlement payments, there are very few that actually appreciate the you and your situation like Mainstreet Funding. Mainstreet Funding focuses on building a long-standing relationship with you, which means keeping your best interest in mind throughout the transaction. With a vast amount of experience in the industry, we will provide you the understanding you deserve so that this is easy and simple for you. Your representative will ensure also that you get the best price for your annuity payments while building a plan designed to fit your needs. The personal attention you get from Mainstreet Funding is unmatched. For many people this is their largest asset, so this decision should be considered carefully. We are here to make sure that all your questions are answered fully so that you can feel good about selling your payments.

Finally, we will review every document closely with you, from the disclosure statement all the way through the contract you will execute. Our representatives will walk you through each of the documents to ensure you are comfortable with the agreements. Your comfort and satisfaction with Mainstreet Funding and your transaction is our number one goal. We want this to be the best possible experience for you when you sell your structured settlement.

What is the process to sell structured settlement payments?

The majority of the states have passed a structured settlement statute, based upon a federal statute, that provides the rules to transfer structured settlement payments to a third-party. However, some of these states have added additional requirements beyond what is included in the federal statute.  That statute governs how to transfer your payments to us. There are certain requirements that must be met in order to be compliant with the statute. For example, some states require you to seek independent professional advise before you sell structured settlement payments.  Not necessary in other states, but could provide you an additional level of comfort. Each state requires that you receive a disclosure statement which provides you a summary of the agreed upon terms of the transaction. If you would like to learn more about the disclosure statement, review our other post which details the disclosure statement. After a particular waiting period from 3 days to 10 days, depending on the state, you will receive a contract, also known as a transfer agreement. After the contract is executed, then a court order will be pursued in which a judge will determine that the transaction to sell structured settlement payments is in your best interest. Once the judge has approved the transaction, then you will receive your cash.

To discuss the process to sell your structured settlement payments further, get a quote or any other questions you may have, please contact one of our Mainstreet Funding structured settlement representatives at 1-877-919-8003 or complete the form to the right. We  look forward to working with you and answering your questions.

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