Around 74% of American workers live paycheck to paycheck. While this system might work for a while, it can cause problems if you encounter a financial emergency.

Your Quick Guide to Selling Structured Settlement Payments

Fortunately, there are ways you can come up with emergency cash when you need it. One option is to sell your structured settlement.

If you have a structured settlement, you have the right to sell it if you want to cash it in. Selling structured settlements isn’t a complicated process, either.

Here’s a guide to help you know how to get cash quickly by selling your structured settlement.

Decide How Much You Want to Sell

When selling structured settlement payments, you have the option of selling the entire annuity or part of it. Before you choose the option you prefer, you might want to think about how much money you need.

Do you need all of the money, or could you get it by taking only part of the money? If you can get by with cashing in part of the investment, you’ll continue receiving the stream of payments from the remaining balance.

Ask for Quotes

Next, you’ll need to consult with a company to get a quote. What is the best place to sell your structured settlement, you might wonder? There are many companies that buy these, and you can compare several offers.

To do this, ask a few companies for quotes. You can then compare these quotes you receive to find the best offer.

When requesting quotes, you might want to ask them about the cost of selling structured settlements. It costs money to sell a structured settlement, but the fees vary.

Sign the Contract

When you find a company that provides a good offer to you, you can sell structured settlement payments to them. Before you receive the cash from the sale, you’ll need to work through the paperwork.

There isn’t a lot of paperwork to do, but you’ll have to sign a contract. Make sure you read through it carefully before signing it.

This contract will state all the key details of the agreement, and you’ll need to make sure you agree with what it says. If you do, sign your name on the contract. Your signature helps you get one step closer to receiving your cash.

Get a Judge’s Approval

When you sell your structured settlement, there is one more step you must complete. You’ll need to go to court to get a judge’s approval of the sale.

While this might sound intimidating, it’s not. The company that buys your structured settlement payments will arrange the court hearing for you. You’ll just need to attend to complete this final requirement.

Get Cash Now by Selling Structured Settlements 

As you can see, selling structured settlements isn’t complex or time-consuming. Instead, it’s a straightforward process that offers a fast way to get cash when you need it.

If you enjoyed learning about structured settlements, you might like other financially-related articles on our blog. Check it out today!

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