There are many reasons why someone would need to sell their structured settlements. However, many are not familiar on how to do it. The steps on how to sell structured settlements is fairly easy and we will show how it is done. But before anything else, it would be best to talk about first why someone would have to sell their annuities.
There are people who just voluntary sell their annuities and there are those who need it due to lack of money. Whatever the reason is, it is important that everyone knows the process on how to sell structured settlements.
The first step you need to take is to request quotes from different funding companies. You should learn how to compare each of them to get the best offer or quote. Once you have chosen your funding company, they will then ask you to sign the contract including all the terms of the sale. You should also remember to send the copy of your annuity
contract to your preferred funding company.
Once all requirements have been provided, an attorney will file a formal request for the transfer of your settlements. It usually takes place in a courthouse at your locality. The judge will then review your petition and once done the judge will decide whether or not to approve your request. Most of the times these kinds of petitions are approve, if your
request has been approved, the funding company should send you the money in not
more than 10 days.
