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A structured settlement is a powerful financial tool made exclusively for injured people in a personal injury case. After winning a personal injury lawsuit, you can either receive a lump sum payment or a structured settlement, where you’re provided with regular, tax-free payments over an extended period. Instead of having to deal with the unexpected stress and difficult decisions you have to face when handling a large lump sum of money. Structured settlements are the safest and the most logical (economically speaking) way to go.

What about the need of selling? Is that possible? It is. From buying a house to putting together funds for that vacation you always wanted, selling your structured settlement will give you the financial leeway to do it. But it is advised that you carefully consider your situation before proceeding with the sale. Most financial advisers would recommend you to avoid selling your settlement, if possible. This is because, in the long run, you receive a lot more money from the periodic payments of your settlement plan. With most plans, the money is tax free. So it is always best to collect all the pertinent information and consider all options and routes before deciding which path you will take.

On average, it takes about 45 days for you to receive your money after you sign the contract. The company that we recommend more often than not can get the money in your hand faster than "the average." Please do note that payment purchase transactions are separate from different states as each state has different laws and regulations regarding such transactions.

Selling a structured settlement can be tricky, not the actual selling part, but the aftermath. What most people don’t realize is the payments are usually tax-free income for many years. When you cash in the structured settlement, there could be a tax bill, and most people don’t understand that when they go to sell it.

It can be brutal, but you may be able to avoid if you have the right information.

But often, circumstances present themselves which are far worse than the hit of cashing in. For example, the $500 a month payment from a car accident from years earlier may have helped with the medical bills back then, but if job loss, home repair, or other unexpected bills occur, a lump sum payout for $65,000 looks better every day.

But what if you are just starting out in the process with your accident claim, and you have bills piling up, and the settlement isn't close to being reached. Do you have options? Can you get help? The answer is an absolute yes. There is a process called pre-settlement funding, and you can get an advance on your future settlement so you can take care of your bills now.

What are the negatives of selling structured settlements?

  • Selling your settlement can carry charges of up to 10% of the remaining balance.
  • Selling before the age of 59 ½ can create federal taxes and/or penalties.

Best Structured Settlement Companies

Making a choice on which structured settlement company to handle the sale of your settlement can be stressful. Here is a list of top rated structured settlement annuity companies:

Company NameCompany ReviewCompany Rating

DRB Capital offers the most cash and their fees are the lowest fees of all the structured settlement companies we reviewed. Their customer service has a reputation of looking out for the best needs of their clients during the transaction.

A structured settlement company based in Plano, Texas.

A structured settlement buyer based in Delray Beach, Florida.

Oasis Legal Finance is a structured settlement company based in Rosemont, Illinois.

Woodbridge Structured Funding is another structured settlement company baased in Los Angeles, California.

This structured settlement company based in Orlando, Florida.

A structured settlement annuity company based in Atlanta, Georgia.

Another settlement company based in Bethesda, MD.

We have put together four things to look for and our recommended companies so you can make the right decision. Make sure to research and consider below factors before thinking of selling your future payments:

  1. Purchase price
    When getting quotes from structured settlement companies, the lump sum you are offered can vary by a wide margin. The primary factor determining the purchase price is the duration of the agreement, the sooner your payments being received, the more you will be paid.
  2. Discount rate
    Again, this price will vary from a company to another, make sure to compare and choose the best option. This rate is similar to interest rate a borrower pays for a standard loan. The lower this rate, the better for you as a consumer.
  3. The reputation of the company
    Choose a company with a long history of active transactions. There are some companies that are going through some difficult financial times, so they might be willing to offer you more to get your business, but that also carries significant risk on your part.
  4. Fees and charges
    Depending on your agreement, sometimes costs and fees are paid when selling structured settlements. We give you the most money with the best terms available.
Structured Settlement Buyers

Can I Sell My Structured Settlement?

There are three basic steps you need to follow to sell your structured settlement:

  1. Find a buyer: After presenting valid reasons to sell structured settlement payments, the first thing you need to do is to choose a reputable company. Look for one experienced in completing the court-ordered transfer process, with an A+ rating with the Better Business Bureau and minimal complaints.
  2. Start the sales process: The paperwork process starts now. After submitting the proper paperwork (your settlement agreement or benefit's letter so the transfer company can verify your payments, application, ID), review all the materials to ensure that they are complete and accurate.
  3. Have your sale approved by a judge: After all the required documents are in place, a local attorney files them in court, which will then schedule a hearing. You’re now in the waiting period. The court will require you to justify why you need to sell it and give assurance that the deed will not put your family’s financial future in jeopardy. Assuming that there are no problems with your transfer request, the judge will approve and sign the order approving your transaction, which is then sent over to an insurance company to wire funds.

Common Reasons For Selling Your Structured Settlement

Everyone goes through financial problems at least once in their lives. You aren’t alone if you are feeling the pinch right now. Often, when you are desperate for money, you will make a less than thought out decision which can significantly hamper your future for some temporary relief right now. It could be a loan that you don't need from companies that are less than upfront with you.

During the recession, there were a record number of annuities, lottery payoffs, structured settlements, and other long-term payments which were sold off. If you are still cash poor, there are options for you.

Whether you want to sell structured settlement out of an immediate need for money or you want to have some cash available to fund your new business idea, structured settlements can represent a significant sum of money that you can withdraw. While most people are content with a steady source of tax-free income for the rest of their lives, some people want that huge lump sum check and the gratification that comes with it. It is very tempting to sell your future payments and receive all your money at once. While there are logical reasons and benefits from not selling your payments, there are many valid reasons to do so too.

Either from circumstance or opportunity, people sell their payments. And while the reasons for selling are individualistic and unique to you, here are some common reasons why people choose to sell their structured settlements:

  1. A great reason for selling your payments is when you see a business opportunity. Got an innovative new start-up idea? Your ideas could be funded by the capital you gain from selling structured settlement payments. Investments such as these, if executed correctly, might lead to payoffs that are much bigger than what you were getting from your annuity.
  2. If you’re one of the people who purchased lottery tickets in groups and managed to win, a small annual payment that gets divided among several people does not seem as appealing as cash divided equally. In situations like these, selling it makes a lot more sense than hanging on to a small yearly dividend that gets further divided among you and your friends.
  3. Some of the more charitable souls desire to make a substantial contribution to charity, so they sell their structured settlements to receive a lump sum that allows them to leave a positive mark in the world.
  4. One of the most common reasons is to pay off existing debts. If you’re stuck in debt and want to climb out of the pit, selling your payments becomes a whole lot more enticing.
  5. Everybody knows college is super expensive. But they also know that it’s one of the soundest investments you can make for your future. Returning to college is also another common reason why people choose to cash in their structured settlements.
  6. Life is unpredictable. You never know what kind of problems are going to come knocking at your door next. Emergencies can happen to anyone and at any time, whether they be medical or financial. In situations such as these, selling your future payments might be a better option than opting to take a loan.
  7. Purchasing real estate is another reason for withdrawing that lump sum. Some smart souls choose to buy a rental property from the money they receive from the sale of their structured settlements. These properties could end up bringing a rental payment much larger than their previous payments.
  8. Some cases look at the inheritance of annuities. A person who inherited such structured settlements might want to get all their cash up front instead of receiving small amounts of yearly payments.
  9. Buyer’s remorse. A person who chose structured payments over a lump sum cash out from reasons that may have seemed logical back then might later realize that he made a mistake and wanted the lump sum option instead. They then opt to sell it to finally receive all their money at once.

When you are ready to sell structured settlement payments, our expert reviews can recommend the perfect company that can meet your current needs. Every situation is different. Therefore, every solution is different. We can match you with the right company. It's what we do.

Lump Sum Payment or a Structured Settlement

Minor and moderate injury cases are usually settled with lump sum payments to the injured individual. But when you’re dealing with serious/permanent injuries, structured settlements are becoming increasingly popular. This is because, with these types of injuries, there might be a lifetime of medical bills that need to be dealt with. The main reason Congress created structured settlements was the concern that injured people who take a lump sum could spend it all before meeting future obligations. However, it’s possible to sell a structured settlement for cash! And it’s easier than you’d think, all you have to do is to get help from one of the reputable structured settlement companies. Structured settlements might be right for you if you’re looking for the following things:

  • Tax-Free Income: Unlike lump sum payments, structured settlements are devoid of tax. Since these come in the form of an annuity, sold by third parties like insurance companies, they are completely tax-free at the state and the federal level. Tax-free income is great news for you. The sum itself is tax-free, but you will be taxed on the proceeds of any investment you choose to make with the amount.
  • Flexibility: Structured settlements can cater to your individual needs. You can structure the payments according to your bills and the expenses you have to deal with later in life. Do you have a big expense coming up in a few years? You can opt for smaller payments now, a larger sum a year from now, and then return to lower payments for the balance.
  • Know Your Rights: The Structured Settlement Protection Act was designed to protect YOU, and you should be acutely aware of what it covers so you fully understand your rights and no one can take advantage of you.
  • Avoiding Mistakes: Most people when they enter this process do not take the time to educate themselves on the proper procedure, they don't ask the right questions, and end up paying more fees, and worse, getting a lesser offer than had they just taken the time and understood the process. Learn how to Avoid the Six Common Structured Settlement Selling Mistakes. It could be the best thing you've done for yourself.
  • A Child with Structured Settlement: What are the procedures if a minor child was the one who was injured and was granted a settlement.

The biggest downside that comes with settlements is that once you agree and "sign on the dotted line," there is no way to change it. The payment amount, frequency, payment schedule are all fixed, and so is everything else about the settlement. But life is unpredictable, and sometimes you might suddenly need a large sum of money to buy a new home or start a new business. Before you start wishing you’d gone for the lump sum payment option, we would like to tell you that our experts are here to make it possible for you.

Important links:

Washington Accord can be your trusted partner with verified reviews for your most important financial decisions in your life. We always have your best interest in mind with our leading expert's opinions. If you are looking to sell your annuity or structured settlement, our recommendations can help you not just have a better experience but more money in your pocket.

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