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How Do I Sell My Structured Settlement Payments?

Reasons To Sell Your Structured Settlement Payments

Structured settlement annuities are an excellent option for people who are awarded money in a personal injury lawsuit because they are tax-free and often guarantee income over time. These structured settlement agreements are final, however, and won’t allow for a change if one day you have a need for more than the regular payment. In these cases, many structured settlement payees choose to sell part or all of their annuity in exchange for a large sum upfront.

There are many reasons a person or family may decide to sell a structured settlement annuity, including:

  • Paying Off Debt — High-interest debt, such as credit card debt, can quickly lead to low credit scores and impede future purchases.
  • Funding an Education — Both colleges and trade schools can be very expensive. Most people take on the added debt of student loans when going to or sending their children to college.
  • Making Home Repairs — Homes require a significant amount of upkeep to maintain or increase in value. Remodeling, upgrading appliances or replacing the roof can all cost thousands.
  • Buying a Home — Depending on the area and the buyer’s credit score, a down payment on a home costs tens of thousands of dollars.
  • Starting a Business — Although a business can yield significant profits over time, new businesses require a significant amount of startup capital, and banks are often unwilling to give out business loans to first timers.
  • Investing — Investing in a business or stocks can yield high dividends and be used to fund retirement.
  • Paying Taxes — If back property, business or income taxes pile up, they can lead to bad credit and liens or garnishments.

How to Sell Your Structured Settlement: 5-Step Process

The CBC Settlement Funding team has over 50 years experience, so we fully understand the nuances of a structured settlement sale. To us, the process is best broken down into five easy steps.

Step 1 – Decide to Sell Your Structured Settlement Annuity

If you find yourself in financial hardship or needing to make a significant purchase that will significantly improve your life, selling your structured settlement annuity may be the right choice for you and your family. This is your legal right, following the court process. It’s crucial to establish your reason for selling before you begin the process because a judge must approve your reasoning and determine that selling your structured settlement is in your best interest before authorizing it.

Step 2 – Shop Around for a Funding Company

CBC Settlement Funding is one of many funding companies in the U.S. Our clients choose us because we have provided exceptional customer service, including free quotes, competitive discount rates, and cash advances. Clients should also look for a funding company with a high Better Business Bureau rating — the BBB gives CBC Settlement Funding an A+. We recommend each of our clients compare quotes and companies before making a decision.

Step 3 – Begin the Structured Settlement Sale Process

Once you decide to sell your structured settlement annuity with CBC Settlement Funding, your personal customer representative will review the various options available — selling all of your annuity, a lump sum of it or a certain number of future payments — and assist you in selecting the best one for your needs. Any quote we may provide you is free, and our offers have no obligations. If after considering the offer and consulting with your lawyer or accountant you decide to move forward, the paperwork process will begin. It takes our representatives about 24 to 48 hours to prepare the paperwork before sending it to you. The documents you will need to sign and file with our lawyers include your application, identification, annuity contract, settlement agreement and benefits letter.

Step 4 – Submit the Structured Settlement Sale Application

After you complete and sign the paperwork, CBC Settlement Funding’s lawyers will file them with the court. Over the next three to six weeks, the court will review the documents and set a hearing date. Keep in mind this timeline can fluctuate from state to state, as the laws governing the sale of structured settlements differ. CBC has a very positive approval rate for these transactions.

Step 5 – Get Your Cash

Once the court reviews and approves the transaction and a final court order is received, you should receive your money within 48–72 hours. CBC Settlement Funding offers payment via electronic transfer or check.

Getting Advice From A Lawyer or Accountant

CBC Settlement Funding makes selling a structured settlement annuity easy, but the process is still a legal one. For this reason, we always recommend our clients confer with their attorneys before moving forward with an annuity sale. If you have an accountant or tax professional, we also recommend our clients seek advice from these professionals.

Your attorney or accountant can lend an extra layer to the proceedings, as they know your individual situation and can help ensure selling your structured settlement annuity is in your best interest. The nuances of selling annuities also vary from state to state, so your attorney or accountant will be able to answer any questions about selling your structured settlement in your area.

Sell Your Structured Settlement Annuity For Cash

We understand your personal finance needs may change over time, so CBC Settlement Funding is proud to offer you options that best suit your financial needs, including purchasing part of or your entire annuity for a lump sum of cash. If you’ve spoken to your lawyer or accountant and believe selling your structured settlement is the right choice for you and your family, call us today.

CBC Settlement Funding provides free purchase quotes, competitive rates, and in some instances up front cash advances within 72 hours and makes the legal process easy. We’ve been earning our clients’ trust with more than 50 years in the industry and are proud of our A+ rating with the Better Business Bureau.

Length of Time Required

Keep in mind that this timeline is approximate; each state law governing the sale of structured settlements is different, and this will affect the length of time required to complete the transaction.

CBC Settlement Funding

CBC Settlement Funding can provide clients with a lump sum cash advance in exchange for selling structured settlements to our company. Clients can contact us today for additional information on customized cash options to fit their unique financial needs.

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