Cash Structured Settlements
It is absolutely NOT illegal to sell structured settlements for cash. When structured settlements first became common place in the early 1980s, companies immediately sprang up to help people who needed large sums of cash now. These companies, called structured settlement factoring companies, offered a valuable service to people who were trapped within structured settlements but wanted large sums of cash instead.
Cash Structured Settlement Dealings are Perfectly Legal
In early 2000 the government realized that many people were interested in selling their structured settlements. So, the federal government recognized that this trend for selling structured settlements needed to be regulated. Today, companies can offer you a lump sum in exchange for the rights to your structured settlement annuity payments. However, the government does require that these companies follow these standards:
Are there Any Exceptions to this Policy?
There really are not any exceptions to the legality of selling structured settlements. Some structured settlements have language built into them that prevents the sale of a structured settlement. They may very specifically say that this annuity cannot be sold or transferred. However, even in these situations the judge has the power to overturn this language and grant a sale. This is, of course, if the judge feels that the cash structured settlement sale is in the best interests of the person selling their annuity.
Do I Have to Go to Court to Sell Structured Settlement Payments?
If you work with Direct Settlement we will do our best to make the sale of your annuity as quick and easy as possible. However, you will have to fill out a lot of paperwork, including an explanation of why you want to cash out your annuity. We will work with you to answer your questions, help you fill out the paper work and make the experience as pain free as it can be. We will also pay all court costs. You may have to appear before the judge to explain why you want to cash out your annuity and to answer some of your basic questions. If required, this is usually a very brief court appearance. Contact us today and we can answer all of your questions about your obligations to the court.
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How can you Sell Your Settlements?
You can also cash in Annuities