Monday, October 12, 2009

A Guide to Selling a Structured Settlement its new news


Are you a recipient of a structured settlement? If you are receiving periodic payments as part of a lawsuit settlement, you will agree that while a regular monthly inflow is useful, it is hardly adequate when you need some quick cash. What do you do when you are looking to make a down-payment on a loan or pay off long pending credit dues? Well fret not, a solution presents in the form of the option to sell off your structured settlement payments. If you are interested in receiving a lump sum payment you may want to approach one or more companies that purchase structured settlements.

The sale of structured settlements is one way to raise some quick cash. Another option is to encash your annuity. To put it simply, an annuity is a financial agreement between an insurance company and the insured which promises insurance claim payment over time. If you are in need of immediate cash to handle unexpected medical emergencies or even to pay off other debts, your annuity may be the right source. While a structured settlement is specifically designed to meet future medical expenses or other financial obligations, when the financial strain gets the better of you it is important to avail of a practical solution. By opting to sell your annuity or settlement to services that purchase structured settlements you can obtain access to a tidy sum almost immediately.

Once you decide to sell your settlement, or a portion of it, get in touch with a qualified broker to handle the deal. It is also important to find out if the insurer making the settlement is open to a structured settlement purchaser since some firms will not allow one. A good broker should be able to help you with this.

Once the purchasing company estimates the value of your structured settlement, depending on whether you are selling the entire settlement or a portion of it, they will provide a quote to purchase the structured settlement. You may want to review it with your broker or your attorney. Once you decide to sell your settlement, the corresponding documents to purchase structured settlements need to be provided to the buyer. These documents must provide details about the settlement plan as well as details of the insurance provider. Companies that purchase structured settlements process the transaction within a short period, which varies depending on a number of items such as the company you are selling your settlement to, the company processing your annuity or settlement, and your local court system.

This arrangement can play a critical role in your financial well being and help ease any personal crisis you may be facing. Once you decide to sell your structured settlement be sure do your research so you get the most out of your settlement and make the best deal.
For more information or a free quote on selling your structured settlement, contact Professional Settlement Buyers

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