How Do I Sell My Structured Settlement?


If your debt is starting to pile up or your annuity cannot support your lifestyle, you might consider selling your structured settlements.  The lump-sum you can receive for selling your annuity can get you started for a new business, pay off your debt, or use it for emergency purposes.  Selling it can help you get back on track.  But how do you proceed?

 selling your structured settlement

How to Sell Your Structured Settlements


The first thing you need to consider when selling your structured settlements is the reason for selling it.  Should you sell it to start a new business, repair your house, invest, for education, or to pay your debt?  Your reason should be valid and essential.  Furthermore, you have to figure out if selling your annuity can hurt you in the long run or not.


Partial, Lump-Sum, or Entirety


The next thing you should think about when selling your structured settlement is whether to sell it for a partial, lump sum, or entirety.  Selling a portion of your structured settlement means that you will still be receiving a periodic payment with the tax benefits.  Entirety means selling the entire amount of your annuity for the whole term of the contract.  Lump-sum is selling the annuity for a specific time. You will still have a steady flow of money until the contract is over.


Insurance or Brokerage

 selling your structured settlement

After figuring out that selling your structured settlements can boost your financial aspect, you should know where to sell your annuity.  You have two options, a special brokerage or an insurance company.  Both of them have a direct connection to companies that are buying an annuity.  You can also ask them about the process, and they will guide you throughout the process.  Once you find an ideal company, set an appointment and get a free quote from them.  They should be able to offer you a competitive price and should provide the quote immediately.  Some companies give you a cash advance if you are in dire need of cash since the paperwork and all the legal process may take longer.


Dealing with Legalities


The next step of selling your structured settlements is finishing the paperwork, legal documents, and setting a court date.  Most of the time, the company that wants to buy your structured settlement will complete all the paperwork with minimum assistance from you.  After that, you need to present your valid reason before a judge before selling your structured settlement.  After the court accepts your motivation to sell, the documents will be forwarded to the insurance company that granted your structured settlement to notify them about the selling of annuity.


You should be aware that the amount of money you will get will not be the total price of your structured settlement.  The costs can go from 50%-80% of your final price.  The percentage is contingent upon the condition of the market.  Being aware of different factors that may affect the cost is essential when selling your structured settlements.


Should I Sell My Structured Settlements?


Structured settlement payment is an ideal solution when a certain case, particularly a personal injury charge, is in a state of being taken into a proper court hearing. It can be the ideal approach if the plaintiff is you. However, receiving it may not be financially wise for the petitioner in some special cases. If you are looking for the answer to the question "Should I sell my structured settlements," this article will serve as your guide in the whole process. First, let us take a look at what structured settlement is.


What is Structured Settlement Payment?


Sell My Structured Settlement

A structured settlement is a monetary arrangement wherein the plaintiff goes into an agreement when resolving personal injury charges. By agreeing on a structured settlement, the claimant will receive a scheduled type of payment instead of receiving a lump sum. It is the more favorable term since the company evades extra-legal costs and other expenses when undergoing a court trial. Determining the amount of structured settlement is contingent upon future inflation, earn rates, and others. However, there are some instances when this type of financial agreement is not the best for the plaintiff. The question now is, "should I sell my structured settlements."


How to Determine if I Should Sell My Structured Settlements?


Suppose you went into a structured settlement but you figured out that receiving a lump sum will be more favorable for you due to some terms. In that case, you may think about finding a company that is ready to purchase your structured settlement, annuity, or lottery prize. You need to find a company that will offer you the best quote for your structured settlement. Most companies will provide you with around 70% of the real value of your payment, and it can even get lower if they notice that you are in dire need. If you think about "should I sell my structured settlements," it would be desirable to get a lump sum payment, but you should also guarantee that you receive the best value.


Some Things to Consider when Selling Structured Settlements

 Sell My Structured Settlement

After you finally decide to sell your structured settlement and choose the company that will give you a lump sum, there are still many things left for your consideration. You will need to get the approval of the local court to conduct the sale. The court needs to find out if it is in your best interest to sell your annuity. It serves as a mode of protection for those people who are not unsure of their answer to the question "Should I sell my structured settlement payments." You need to have a valid reason, such as educational support, emergency need, medical funds, supporting a new venture, and others to be approved by the court.


Help! I Want to Sell My Structured Settlements


Selling structured settlements starts with properly organizing your thoughts and having a clear idea of what you need. It is not crucial to reaching your goal, but it will provide you with a starting point when you want to sell my structured settlements. This initial step is vital. Unfortunately, people planning to sell their structured settlement failed to establish a concrete plan. Here are some tips that will help you get started.


What Does the Agreement Say?

 Sell my annuity

You will find out much essential information about your structured settlement if you only check the agreement listed at the back. Pay some extra attention to the section of the foundation of payment. Will some of my structured settlement payments be larger than others, and will they be adjusted for inflation? You should also ensure that the payments are guaranteed or that you will not receive any penalty once transferred. The answer to these average questions can affect the lump sum that you will receive.


My Goal to Selling My Structured Settlement Payments


There are different ways to sell your structured settlements; some choose to sell the portion of their structured settlement and take the remaining, while others prefer to sell their entire structured settlement. Deciding how to sell your structured settlement can be a daunting experience, but having a concrete goal can help you. You need to know the exact amount of money you require to fulfill your objectives. You also need to ask yourself if your decision will not affect your future financial state and whether you will survive without it.


Knowing My Options to Sell My Structured Settlement Payments

 Sell My Structured Settlement

Normally, options to sell structured settlements will be apparent. But there are numerous ways to break your payment. Your option will be contingent upon your current financial need, job security, and future. Once you manage to have a clear idea of how much you need and the things that might happen during the deal, it is the right time for you to seek the help of the company that will help you realize your goals. You have many options to choose from; you always need to ensure that you are getting the best deal when you sell my structured settlement payments.


All in all, you need to make sure that your plan to sell my structured settlement payments is the right choice for you. Before you decide, try to consult your family members and the different experts in this industry to guarantee that you are taking the right step.


Where do I sell my structured settlement?

 Sell my annuity

Searching for a company that will buy your structured settlement can be a tricky process. While several companies are offering to buy your structured settlement, you are still unsure whether you are receiving a fair quote from them. You always need to consider the company's year in the business of buying an annuity. You should also conduct a detailed review about the company, such as the review and testimonials of authentic people, their profile at the Better Business, company rating, the yelp profile, the review, and their ability to respond to your concerns immediately.


So what are your options on where to sell your structured settlements? One of the best ways is to locate an insurance agent or company expert in connecting the purchaser to the seller. There are also annuity brokerages that are offering to buy your structured settlement.


Insurance Company or Agent

 Sell my annuity

Those who have an annuity and are thinking of selling it should be aware that they can take a certain loss when selling due to the transaction cost. However, there are special instances where the interest rate has considerably dropped from the date they are purchased, creating a higher profit. An insurance agent is the best possible way to find an interested buyer. These insurance companies are well versed in the conditions surrounding your annuity. They are also determined to sell your annuity; they will be able to receive some incentive from the company once they can find the best possible conciliation between the seller and the buyer. They will take no commission from the seller as they normally receive a handsome commission from the buyers.


Annuity Brokerages

 Sell my annuity

If you do not want to sell it through an insurance company, you have another alternative; specialized annuity brokerages. This specialized brokerage also connects the seller to the buyer. But keep in mind that they usually charge you a higher transaction cost. Some of the popular specialized brokerages are Annuity Advantage, Annuity1 and others. Recent development in this area has improved transparency to allow the sellers to find the better option for them.


Strategic Selling


The brokerage and the insurance company can offer you different options depending on your desire and condition. You may have a split purchase, reverse purchase, partial purchase, and straight purchase.


A split purchase is made to sell the annuity for a specific period to receive a lump sum of your desired money. The reverse purchase involves the selling of a fraction of your annuity. Partial is a lump sum of the fraction of money you receive monthly and straight payment is the usual way of selling your entire annuity.



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