State Structured Settlement Protection Laws
Most states have certain protections in place for those selling structured settlement payments to a third party. These laws ensure fair treatment and transparency.
What State Laws Require
All state laws regarding structured settlement transfers differ slightly. In general, however, all state regulations require the following protections:
Full Disclosure
Funding companies are obligated to provide a disclosure that includes all of the terms of the transaction in a very clear and concise manner for the protection of the seller.
Cooling Off Period
The seller must be allowed a period of time during which they can reconsider the decision to sell structured settlement payments.
Court Approval
All sales or transfers of annuities or structured settlement payments must have the approval of a judge, based on the seller's unique financial situation and best interests.
Why These Laws Matter
The Structured Settlement Protection Act was designed to protect consumers from predatory practices when selling their settlement payments. These laws ensure that you understand the full impact of your decision.
By requiring court approval, the law ensures that a judge reviews your unique financial situation to determine if selling is truly in your best interest. This extra layer of protection helps prevent hasty decisions that could harm your long-term financial security.
At CBC Settlement Funding, we fully comply with all state and federal regulations. Our transparent process ensures you receive all required disclosures and have adequate time to make an informed decision.
How CBC Protects You:
- Clear, transparent disclosure of all terms and fees
- Full cooling off period to reconsider your decision
- We handle all court approval paperwork for you
- No pressure tactics or hidden fees
- A+ BBB rating for ethical business practices
Let CBC Help
Our team of experienced, caring professionals will make the process of selling some or all of your structured settlement or annuity payments easy. We ensure full compliance with all state protection laws.