How To get Cash for Structured Settlements

If you have a structured settlement and you need a lump sum of cash right away, you may consider getting cash for your structured settlement. You can sell your settlement to a private note investor or a lending institution. But keep in mind that this move is not without some risk. Read on to discover some important information about how to get cash for a structured settlement.



When you apply to get cash for a structured settlement, you have to keep in mind that this can be a complicated process. You should have a structured settlement specialist help you. This person may be an attorney or a financial professional that has had specialized training.



Selling your annuity payments will assign all rights to future payments to the institution that you sell your payments to. But it is important to remember that in most cases you can choose to sell your annuity payments in parts or you can sell the whole thing. For example, if your annuity payments are set up over a period of thirty years, you may choose to sell only two years worth.



The very first thing you should do before getting cash for a structured settlement is to figure out how much money you need. What are you going to be using the money for? Do you need to pay off mounting medical bills? Do you have high interest credit cards that are eating up your budget? Once you determine the amount that you need and what you need it for, you will have a clearer picture of how much of your annuity payments to sell.



The next thing you need to do is to get all of your structured settlement details together. You need to have the name of the life insurance company that backs your annuity payments. You also need to know the exact dates of payment disbursement, how much the payment is going to be and how many payments you have left.



When you meet with your investor you need to let him know how much money that you need and how many payments your are going to sell. He will take this information, calculate the present day value of your settlement and connect you with those individuals or organizations that can give you the most money for your annuity payments.



Before you try to get cash for a structured settlement, carefully weigh the pros and cons. Make absolutely sure it is something that you want to do. When you sell your structured settlement you are giving up future income. If you do opt to get cash for your structured settlement, use the money wisely.