Five ways you can speed up the cash structured settlement payout process!
Completing a cash for structured settlement sale takes time, just as learning how to sell annuity payments does. There are some built-in delays, such as the time that it takes to get a court hearing and receive approval, and in some cases a required waiting period between court approval and funding. There can be delays with the insurance company acknowledging the transfer and more. But in general, most structured settlement sales, from start to finish, take 60-90 days.
Strategic Capital has completed an entire cash for structured settlement sale in as little as 18 days. But certainly this is not the norm. Most companies, including Strategic Capital, agree that it usually takes 30-60 days to complete a sale.
When you see companies advertising that they can get you your money in five to ten days they don’t really mean the actual sale. Rather, this is an advance on your sale and receiving your full settlement funds will usually take at least 30 days, up to 90 days. ”
Of course, there are ways that you can help to speed up this cash for structured settlement process. Here are some tips on how to sell annuity payments fast:
- Have Your Settlement Documents HandyIt is important that you have your original settlement documentation available early in the process, even right when you call for your structured settlement quote. This is required for your quote and to get the process moving. The faster you get this out the better.
- Return everything QuicklyDuring this process you will be asked to provide information (like the original paperwork mentioned above) and sign documents. The more quickly you do these things the faster your entire sale will go.
- Request an AdvanceIf you have a very immediate need for money do not be afraid to request a cash advance. Most factoring companies will willingly give you a cash advance equal to some amount less than the anticipated sale as long as they see a real need and feel that your sale is sure to be approved.
- Ensure that Everything is in OrderMost of these companies are going to move pretty fast because, let’s be honest, they want your money. The faster they start buying your payments the more money they can make, and the sooner they can start making it. So most of these companies will stay pretty active in getting your sale approved. But just to be sure, ask your representative if they have everything that they need from you and if there is anything that you can do to speed up the process.
Ask if a cash advance is possible!
Selling a structured settlement can take anywhere from 18 to 90 days, even more if there are court delays. Sometimes, if you have a very important, immediate need for money, Strategic Capital will give you a portion of your cash up front. It never hurts to ask.
So, how long does it take to sell a structured settlement? Part of that answer is up to you. Follow our advice above, and call Strategic Capital for a structured settlement quote, and you will get your cash for structured settlement money faster.