Structured Settlement Transactions – Frequently Asked Questions
Mainstreet Funding strives to ensure that you receive the best possible experience when selling future annuity or structured settlement payments for cash. Our structured settlement representatives work one on one with you to help you in determining the best possible solution to get you the money you need now with the least amount of impact on your future payments.
Can my structured settlement payments be sold?
The answer is Yes. Most of the states have a statute that provides for a process to sell your structured settlement payments. In order for you to be able to sell your payments, the statute requires a judge to approve your transaction. Mainstreet Funding will guide you through this process.
Why sell my settlement payments?
For many people who have structured settlements it is unnecessary to sell future payments. However, sometimes life changes and the payments are no longer providing the cash necessary to pay bills or other debts. Some may choose to sell to:
- Buy a house
- Start a Business
- Pay for schooling
- For many other large purchases.
Not withstanding a current need, payments over time are worth less than they are worth today, due to inflation.
What will I receive now if I sell my settlement payments?
Each annuity stream is different in duration and amounts, so the amount each person will receive is quite different. There are many factors that need to be considered in determining the value including what you need, when you receive your payments, the annuity company making the payments to you and the amount of each individual payment. We will help you navigate through each of these factors to get you a great offer for your payments. You may also read more about how the payment is determined by reading our structured settlement calculator article.
Can I sell a portion of my settlement?
Absolutely, most of our customers sell only small portions of their structured settlement. By considering your needs and your future payments we can help you build a plan to get you the money you need now, while preserving as much of your annuity as possible.
What is the process for selling my annuity payments?
We strive to make this a simple process for you to sell your structured settlement payments.
– Contact us via the form to the left or call us at 1-877-919-8003 and we will help you build a plan that fits your desires
– Provide us the necessary documentation
– Judge approves the transaction
– Fund your transaction
– We will update you consistently throughout the process
What documents do I need to provide in order to sell my payments?
– Annuity Policy – this is the document that shows what payments you are going to receive along with a policy number and the company making the payments
– Settlement and Release Agreement – This was the document that settled your lawsuit. It will show the parties involved in the lawsuit along with the agreed upon amount to settle the lawsuit.
– Marriage Certificate – If name on annuity is different than your name on your ID
– Divorce Decree – If you were divorced after the lawsuit was settled
– Bankruptcy Discharge – If you filed for bankruptcy after you settled the lawsuit
Can I sell life contingent payments?
The answer is generally yes. Please see this article on selling life contingent payments for more details.
How do I get started selling my structured settlement?
Contact one of our structured settlement or annuity specialists at:
– 1-877-919-8003 or complete the form to the left and we will contact you right away.