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November 06, 2010
People who need cash for structured settlement must follow specific protocol and obtain court authorization to sell all or part of future annuity payments. Many states prohibit the sale of structured settlements altogether, so the first thing Annuitants should do is find out if this practice is allowed within their state of residence.
While obtaining cash for structured settlement provides Annuitants with lump sum cash, this can place them at financial risk in the future. Selling future annuity payments reduces the amount of funds Annuitants receive because annuities are sold to funding sources and fees are assessed for completing the transaction. Funding sources can include cash advance companies, annuity brokers, private investors, and investment groups.
September 20, 2007
Obtaining cash for structured settlement payments is a rather complex process. Before making the decision to cash in your structured settlement, it's important to understand how the process works.
You can receive cash for structured settlement payments by selling your note payable to an annuity broker or financial institution. There are numerous companies who offer lump sum cash payments in exchange for annuity payments. However, it is important to scrutinize the individual or company offering the deal.