Settlement Purchases
If you have a structured settlement, there are companies interested in interested in purchasing your settlement. This site is here if you've been approached to sell your settlement, or if you're just curious about selling your settlement in return for a lump sum buyout.
You need to know the rules. About two-thirds of the states have laws restricting the sale of structured settlements. Federal restrictions also apply to sale of tax-free structured settlements to a third party. Also, some insurance companies write their annuities to limit the assignment or transfer of annuities to third parties, to discourage the sale of structured settlements. As a result, depending upon where you live and the terms of your annuity, you may not be able to sell your settlement.
You should make investigate your options. Companies that buy structured settlements intend to profit from their purchase, and they are experts at this type of transaction. You may get a low offer if you are not careful. By approaching more than one company about possibly selling your ettlement, you can get multiple offers to find their highest payoff.
Consider carefully who you are dealing with. Be sure that the company that buys your settlement is established, well-funded, and reputable. You may have to go to court to get a judge to approve the buyout. It is usually a good idea to consult with a lawyer before entering into an agreement to sell your settlement.