You can sell structured insurance settlements, but you should be aware that you are at a long-term disadvantage by taking this route.
You have a structured insurance settlement because you were awarded compensation for an accident, malpractice suit, or some other tragedy. You were awarded the settlement through the court in a legal manner.
You may be wondering why now would you be denied the right to do what you want with your settlement?
When you want to sell structured settlement payments, you really can't do it alone. You need the help of professionals.
You need a structured settlement broker; you may want to consult a lawyer; and maybe a personal financial adviser to help make sense of the whole process, and advise you on the best buyout option for you.
Some courts advise you take all of these steps, and will not process your claim until you do. Professionals are your protection against making a mistake that will cost you plenty in the long term.
You are exchanging regular monthly income for a quick cash payout, but there is always a penalty.
Some insurance companies include a 'no sell' clause. This is usually just a formality. Most courts will not honor this clause.
It's your money. If you want a lump sum instead of small payments meted out in inconvenient intervals, the court will not usually stop you.
There are exceptions to this rule. If a judge decides it is not in your best interest to sell structured insurance settlements, he or she may deny your claim.
This only happens in extreme situations. For example, if you are a compulsive gambler, a drug addict, or deemed by the court incompetent to manage money wisely. If you are denied, it is for your own well being.
Find out about your rights and options before you make a life-changing decision. Contact Direct Settlement for free advice and no-nonsense, jargon-free answers to all of your questions.
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How can you Sell Your Settlements?
You can also cash in Annuities