Want to Sell Your Structured Settlement Payments Quickly What are by blackrobert

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									Want to Sell Your Structured Settlement Payments Quickly.
What are some things that you need to know about before cashing in your structured settlement annuity.


First find a company or broker that buys structured settlement annuity.


Buying structured settlement payments is difficult. Find someone who knows what they are doing. Find out how long they have been in business.


See if there are any lawsuits against the company or broker buying your settlement. Your local Department of Consumer Affairs may have records to
check.


Talk at length with the company or broker, ask him / her questions and get a feel for how knowledgeable they are. Trust your gut feeling! Steer clear of
those who promise much more money or can get it faster than others. If it sounds too good to be true, then it is.


When will I get my money?


It's going to take a minimum of 1 and a half months to 4 months. Anyone saying less time is not to be trusted.


1. You have to go to court in your state to have the judge approve you selling your payments. If you don't get a court approval you pay a 40% tax. To
get this approval can take up to 4 months.


2. Have you dealt with Insurance Companies some are easy, most not so easy. It takes time to get the paperwork from them.


3. Different funding companies have requirements that make it important for your company or broker to know which company buys what. It saves a lot
of time and you get your money quicker.


4. Check your Insurance Companies Rating? Make sure the Insurance Company has an A rating! Ultimately you will get a higher profit margin when
your settlement is sold to larger financial companies. If a company has a lower rating then they may have to sell off settlements at a lower profit margin
resulting in a lower price to you.


5. In addition to the above you will need the necessary documentation such as copies of the following: The annuity, the settlement agreement and
release, photo ID, recent payment check and application. These are some of the things to consider. For now it gives you a good idea of what's
required.


If you add up all the payments and think you are get something close to that figure, your wrong. Why? If you WAIT for your payments, you will get that
amount. Your NOT WAITING, someone else is. They want a profit and they have to wait to get their money back, they gave you. $120. paid today is
worth $120. $10. a month paid for 12 month is not worth $120. today. Its worth $120. in one year when you get all the payments. This called the time
value of money and to many its confusing. Look at other sources for money like family, friends or a bank loan.


You have decided to sell your structured settlement and some questions to ask yourself. What about taxes? As of January 23, 2002 a new law says
no tax liability for selling a structured settlement.


Another consideration when selling your structured settlement is selling only a portion. Sell a portion that will meet your current needs, and leave the
rest in an annuity so that you will still receive some sort of monthly income. A financial emergency or other unexpected expense may come up
requiring you to access and sell a structured settlement.


Know that your settlement was meant to be used over time and selling it now can leave you with money problems down the road.


About the Author
Frank ReCouper Sr. is President of FDR Resources and has been in financial services for over 45 years. For more information about Selling a
Structured Settlement or Structured Settlements


Source: http://www.article-idea.com

								
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