To complete your transaction there are a few structured settlement documents and identification documents you will need to provide Mainstreet Funding along with completing your contracts. Below is a list of the documents. Contact your structured settlement representative at 1-877-919-8003 if you need more information on which documents relate to your specific transaction.
Structured Settlement Documents
These are the documents related specifically to the original settlement that took place which set in force your annuity payments.
1) Settlement and Release Agreement – This is the document that you signed settling the lawsuit and set forth the amount of the settlement. This document may also be described as Minors Compromise or settlement agreement.
2) Annuity Policy – The insurance company involved in the settlement, bought an annuity to make the payments to you over time. This policy was provided at the time of settlement, however many times this annuity document is misplaced. In this case, the insurance company will give you a replacement in the form of what is called a “Benefits Letter”. This letter is a summary of the benefits you are due under your annuity including the policy number, payment amounts, payment dates, owner of the policy and the company making the payments.
3) Qualified Assignment* – In many settlements, the party representing the defendant assigns their obligation under the settlement to another party. This process is called a qualified assignment.
Personal Representation Documentation
These are the documents that represent you and your situation in selling your structured settlement payments.
1) Application – We will have you complete a short application which provides us the information necessary to help you through the process of selling your structured settlement payments. You can find a copy of the structured settlement application here
2) Identification – We will need a copy of a your picture identification. Usually this is in the form of a driver’s license or resident card.
3) Social Security Card – We need a copy of your social security card
4) Marriage certificate* – We may need a copy of a marriage certificate, for example, if your name on the annuity is different from your current name.
5) Divorce Decree* – We may need a copy of your divorce decree if you were divorced after your received the annuity.
6) Bankruptcy Discharge* – We may need a copy of your bankruptcy discharge.
7) Lien Release* – We may need evidence of the release of a lien.
If you have any questions or would like our research team to help you in collecting your structured settlement documents, please contact us at 1-877-919-8003.