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  Category: Articles » Finance » Article

How to Get Cash For Structured Settlement

By Frank Dotson

It is not very difficult for a person who has acquired a structured settlement to trade it for cash. Irrespective of the source of the structured settlement, whether from an insurance claim or an out-of-court settlement, a good factoring company can help in obtaining cash for a structured settlement.

The factoring companies give a lump sum to an individual and become beneficiaries of the periodic payments. The lump sum is given minus the factoring companies' fees which can be up to 15% of the total amount. The amount can be used in a number of ways to accomplish objectives such as repaying debts, buying a vehicle or a house, or funding education. It would not be possible if the money was made available in installments. At the same time, one should sell structured settlements only for meeting genuine requirements and not perceived ones.

A person wishing to sell his structured settlement should decide upon the amount that he wishes to sell giving due consideration to the genuineness of his need and his future requirements. Prospective sellers should shop online for the most appropriate factoring companies so that they can get the best price and terms for their structured settlement. It is possible to get free quotes online that give a basis for comparing settlement firms. One should also try and get an idea of the company's reputation for fair-dealing, technical competence, and prompt payment.

A person desirous of selling a structured settlement can also do so by contacting a structured settlement broker who can apprise the seller of the best offers available. The seller should be proactive in keeping himself informed regarding any developments with respect to the sale of his settlement; he should also be aware of the responsibilities of the broker and the buyer as well as the steps that need to be carried out to sell the settlement. At no stage should a seller allow himself to be pressurized into making a deal which he is not comfortable with.

The process of selling a structured settlement can take up to two months. Some states in the United States have a minimum waiting period before a structured settlement sale can go through. The obligations to be fulfilled vary with the state and one should be aware of requirements as per state law. A court will decide whether the sale of a settlement is in your best interests. The court procedure involves submitting relevant documents and when these are approved, a date for the sale of the annuity is given by the court. A court-approved sale of annuities is exempt from taxes.
About the Author
Frank Dotson recommends that you visit for more information on getting cash for a structured settlement.

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  Some other articles by Frank Dotson
How to Get Money For a Structured Settlement
Often, owners of structured settlements are faced with a liquidity crisis that necessitates the sale of a part of the structured settlement. The ...

How to Get Cash From a California Structured Settlement Company
There are many resources online that offer detailed information on California structured settlement companies. A person wishing to sell his structured settlement ...

Getting Cash From a California Structured Settlement Company
There are several established structured settlement companies in the state of California. These companies have a strong online presence which makes it easy for sellers to interact with them without having to travel. ...

Get Cash Flow For a Structured Settlement
There are various companies that offer a lump sum payment in exchange for cash flow streams generated by structured settlements. Beneficiaries of structured settlements often have to sell settlements when faced with an urgent ...

Get Cash Flow For Structured Settlement
Structured settlements are offered for a variety of reasons. It is possible for recipients of a structured settlement to trade them for cash flow so as to meet any ...

Getting a Cash Payout On a Structured Settlement
It is not uncommon for people who are beneficiaries of a structured settlement to sell some or all of the settlements for a ...

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