Why Sell My Payment?
Whether you’re thinking of purchasing a home, launching a small business or paying off student loans - and you need the money now - then selling your annuity or structured settlement payments might be the solution for you. If you find that your periodic payments are not enough to cover your immediate needs, consider selling part, all of it or lump sums over time to meet your situation.
- Buying or repairing a home
- Starting or investing in a business
- Funding a college education
- Paying off debt (credit card, student loans, medical, etc.)
- Investing (property, stocks, retirement fund)
If you sell a portion of your annuity or structured settlement, you'll continue receiving some periodic income from the remainder of your investment without losing the tax benefits. The structured settlement will continue to carry those tax benefits, and extend them to your heirs in case you die before collecting all your payments.
Choosing to sell the entirety of your structured settlement for the full term of the contract means you'll empty out your investment at once, ending any chance of periodic income payments in the future, but you'll have a lump-sum payment in your hands to invest.
Selling lump sums over time also gives you money now in large increments, but it still guarantees you'll have a steady flow of income from your structured settlement for the term of the contract, while carrying the same tax benefits as before.
How the Process Works
How do you sell an annuity or structured settlement? The process of selling your structured settlement payments is fairly straightforward, starting with your decision to sell, setting up a court date, and ending with money in your hands. However, what we can offer that our competitors can't is fast, speedy and dedicated customer service; a free quote in minutes and cash advances when approved.
Make the Decision to Sell
If you need the cash for a valid reason, it's your only alternative, and selling payments won't hurt your financial future, then go ahead and start the process.
Get in touch with one of our representatives who will guide you through all the steps of selling your structured settlement payments.
Get a Free Quote From Us
We offer competitive pricing, and will guarantee you a free quote in minutes.
We Provide a Cash Advance
Once you sign up, we can provide you with a cash advance now so you can start using some of your own money immediately.
Setting a Court Date
After all the paperwork is submitted, you'll first need to present the reasons for selling your payments before a judge prior to getting your money.
Cash in Your Hand
Once the court accepts the transfer, you should have access to your money.
How Much Will You Receive
While the amount you receive from selling your structured settlement payments depends on certain factors, like current economic conditions and amount you're interested in selling, we'll offer you competitive price matching and a personal representative who will help you get money now.
- Amount of payments and how much you wish to sell
- Length and timing of your payments
- Any lump sums you may want to sell
- Current economic conditions
- Fees and extra charges
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Tips for Selling Structured Settlements
Today's Value of Your Payments
Companies that buy structured settlements profit from their services to stay in business. For you, this means you'll be offered less for your annuity than its overall worth in a cash payout. How much less? Well, that depends on factors that are constantly changing like market conditions and institutional interest rates set by the Federal Reserve. In effect, the discounted purchase amount is the price you are paying for the ability to tap into immediate money.
Research the Laws
Although language in your annuity contract may try to restrict its sale or redirection to any other entity, selling the rights to future payments from your structured settlement is legal. Forty-three states passed laws known as Structured Settlement Protection Acts (SSPAs) that safeguard your rights, while providing rules covering the transfer of structured settlement payment rights to a third party. The U.S. Congress in 2002 created a federal regulatory model for the factoring industry by amending the Internal Revenue Service code. Section 5891 imposes a 40 percent excise tax on factoring transactions that are not in accordance with a "qualified state statute." The revision means that all structured settlement transfers have to be approved by a state court judge who must determine whether your reason for wanting to sell your structured settlement is not only legitimate, but also in the best interest for you and any dependents.
Get advice from an attorney or financial planner
Although it may cost you a little bit of money, sound advice from your lawyer or financial analyst may save you thousands of dollars. Your advisors can warn you about a poor valuation of your structured settlement or save you money in taxes. As part of the structured settlement selling process, you will have to be represented by an attorney before a judge or court approves the sale. Often, your factoring company will provide you an attorney as part of process, but the company won't discourage you from having your own lawyer. Or, at least, it shouldn't. If it does, that's a warning sign that maybe you should look elsewhere for a buyer.