What is a structured settlement?
Many personal injury lawsuits or court judgments are delivered through an annuity company in the form of a structured settlement. A structured settlement provides the injured individual with set payments over a set period of time. The goal of this structure is to provide income that may be missed due to job loss or other variables.
What is a structured settlement conversion?
A structured settlement conversion allows owners of a structured settlement the ability to sell the settlement in order to receive a lump sum of money.
For this conversion process, we only use a competitive bidding process. This allows us to market the structured settlement to a wide variety of buyers who then bid against each other for the settlement payment.
Why convert a structured settlement?
A structured settlement often seems inflexible to the owner, especially when the owner feels a lump sum of money now could alleviate their financial strain. Through a conversion of the structured settlement, the owner receives the money now, rather than in set future payemnts.
Many owners of structured settlements unfortunately do not consider the settlement as the asset it is. They often take out loans or make other costly financial decisions when converting their structured settlement may have been their best option all along.
How does the process of converting a structured settlement work?
Because a structured settlement is an asset, when the owner sells it, all the rights and benefits of the settlement belong to the new owner.
A competitive bidding process allows owners of structured settlements to feel confident they have received the best offer for their asset. In a competitive bidding process, qualified buyers bid against each other for the settlement. In this way, fair market value for the policy is secured.
What are the next steps if I am considering converting my structured settlement?
Contact us if you are interested in converting your structured settlement. We will present your structured settlement to an extensive network of qualified buyers. These buyers will bid against each other for the settlement, which will help make sure you receive the best offer for it.
Once you have accepted the offer for your settlement, we will complete the paperwork for you to receive the lump sum of money.
If you are currently receiving a structured settlement but need money immediately, consider converting your structured settlement. We will guide you through the entire conversion process. Contact us today.