Finding Buyers for Your Structured Settlement Payments

NASHVILLE, Tenn. - Oct. 23, 2013 - PRLog -- If you are in need of a large amount of cash in a short period of time and you have an annuity or structured settlement you may want to sell your remaining balance for a lump sum.

There are always cases where accepting a structured settlement was a great solution at the time when you could accept your financial settlement payable over a long period of time, but things have a way of altering the best laid plans we initially set up.

You could be looking to make a life changing purchase such as a home or possibly a child is ready to enter college and you want to assist them with their tuition costs. Whatever the case of needing a large sum of money quickly, you realize you can cash in your annuity or structured settlement.

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In cashing in a structured payment that was originally set up over time, you realize that you can sell your remaining balance at a discount so that it benefits your needs and the buyer of the note as well. There are a number of people and institutions willing to buy your structured settlement or annuity, but who will offer you the most for your money?

First, in order to fully understand the process of selling your structured settlement, it is wise to read over your legal financial papers that explain the total number of payments and the amount of each payment to get a good idea of what is remaining as your balance. Then, you have an estimated total cash out figure to begin shopping for a buyer. Keep in mind you will not be receiving a full payout since the buyer will be purchasing the balance at a discount so that they are assured a profit from the transaction.

Another consideration of proceeding with the sale of your structured settlement is that you must receive the legal right to sell your remaining balance only through the court system. Since this was a legal settlement structured and documented as to how it was meant to be paid and received it cannot be simple passed on to another recipient without legal documentation through the courts. This will require agreement documents to be signed by both you and the buyer to be presented to the courts.

Once you have a buyer and seller agreement it is time to put lawyers to work to get this transaction in place and scheduled through the court system. Make sure you have enlisted the services of a lawyer that is versed on the sale of structured settlements and annuities to assure yourself that all will go smoothly.

Finding a buyer for your structured settlement or annuity is best comprised of a list of known purchasers or companies that do this sort of thing as their main business. A list of structured settlement buyers can be found easily online and you should be smart about how you approach them since after all, they want to buy your money at a discount price. Shop for the best price for your money, literally, and you can gain the much needed cash you are entitled to.