How To Sell Structured Settlement Payments

If you currently receive payments from a structured settlement and find that the restrictive repayment schedule set for you is not allowing you to meet your financial plans or obligations, you do have the option of selling some or all of your payments to a third-party structured settlement buyer. In exchange, you will receive a large lump sum payment that allows you to control your money now rather than later.

If selling structured settlement payments sounds right for you, you'll want to know more about the process and how to proceed from here. Here's an overview to get you started.

Locate A Structured Settlement Buyer

The first thing to do is locate and evaluate a structured settlement buyer who can give you cash for your payments. You can easily locate online settlement buyers through a web search. However, you do need to take care in choosing the right funding partner who will treat you fairly and ethically—one who has your best financial interests in mind first above all things, and above their own self-interests.

In addition to searching for settlement buyers online, you can also ask for referrals from friends, associates, and legal professionals such as the attorney who represented you in your case. Regardless of how you came to find the prospective funder, you should evaluate the company. Ask plenty of questions and make sure you feel comfortable with the company before agreeing to anything binding. Look for a company who

•Offers excellent customer service and responds fully and readily to you
•Offers free, non-binding quotes
•Offers a number of flexible structured settlement selling options so that a funding and purchase plan can be tailored to your specific goals and needs (look for full and partial buying options)
•Has a strong track record in the industry, with years of proven experience and references and testimonials to back them up
•Designs plans in your best interest first and foremost above theirs
•Offers competitive rates for structured settlement purchases (which will get you more money in exchange for the same amount of payments)

Moving On To Funding

After you have decided on a buyer for your settlement payments, a representative will lead you through the rest of the process.

To start, you will need to complete an application and provide all necessary supporting documents, such as proofs of identification, settlement orders, and paystubs from the settlement.

Once the application packet is complete, you will need to seek court approval for the purchase. Your structured settlement buyer will handle most of this on your behalf, and normally there is no court appearance required, but court approval is necessary. If a company tells you it is not, or promises to expedite your processing, beware—all structured settlement sales must be court approved, and there is no rushing the courts! On average court approval takes 45-90 days (usually more towards 90). Once the court approves, however, funding is fast. You should receive your money in about 5 to 10 days.

Prosperity Partners is a settlement factoring company specializing in providing capital for lottery winners and structured settlement payment recipients