Wondering, “How do I sell my structured settlement annuity?” The process of selling a structured settlement annuity is actually pretty easy, but it will require some paperwork. During the process of selling your structured settlement payments you will be asked to provide information and complete various forms. Some of these forms will vary based on the company that you work with, but any company you try to sell your payments to will, first and foremost, need to see a copy of your original settlement agreement. Be sure to send them a copy; always ensure that you retain your original and that you keep copies of anything that you sign and return for your own records.
They say that the devil is in the details, and this is usually true. Be sure that you know, in writing, that with your structured settlement buyout paying out of pocket will not happen – there should be no out of pocket fees. And be certain that you are very clear on exactly how many payments you are selling, which payments they are, and how much money you will be given. If at any point you have a question or something is unclear be sure to ask. And if the company you are selling to is unwilling to answer your questions then try another company who will give you the answers that you deserve.
Hopefully, you are a very organized person and know exactly where every important paper in your life is. Or, you may be a normal person and have misplaced your original settlement paperwork. If that is the case contact the company who owns your structured settlement annuity – the company who sends you your check – immediately, and ask them for a copy of your original settlement paperwork. Or, you can contact the lawyer who did your settlement and their secretary should be able to get you a copy. If necessary, you may be able to get copies from the courthouse, for a fee and time delay. Do this immediately – requesting copies like this can take time and you won’t be able to get a firm quote, or begin the structured settlement buyout, without these documents.
The factoring company that you work with will also ask you to fill out some of their paperwork, including contact information, data about your settlement, and perhaps even a brief statement of why you need this sale. Some of this information will be used to file the court papers and other information just to inform their conversations with you before your structured settlement funding.
The faster you get your purchaser the structured settlement annuity information that they request the faster they can complete and file the paperwork and request a court date to seek approval, and the faster your structured settlement funding can happen. Court hearings take time, so if you need your money now do your part and return things promptly.
There is really little paperwork for you to complete during the structured settlement buyout. Your purchasing company should do most of the paperwork for you and file all court papers, asking you for basic information and some signatures. They will also submit notice, as necessary, to beneficiaries and to the annuity holding insurance company, letting them know of the transfer of payments. And then, of course, they will do the most important part – send you your check or money transfer.