When it comes to selling structured settlement payments, you have the legal right to do so. Whether you are looking to receive a lump sum for an emergency or invest the money in cash, you can get court approval to withdraw your payments, either in part or in full. Forty-eight states and the federal government have enacted additional consumer protection laws that set strict conditions when an annuity beneficiary sells some or all of their future payments. When you sell part or all of your structured settlement payment flow, you effectively transfer your payment rights to the buying entity in exchange for a one-time payment.
This offer is not available to Louisiana residents who have a pending transaction with JG Wentworth or any related or unrelated structured settlement buying company. The judge will analyze your financial obligations, living expenses, and how the sale will affect your financial situation, both in the short and long term. It is not possible to receive the full value of the structured settlement payments from the buyer. Laws to protect structured settlement holders ensure that they don't make hasty decisions that have long-term negative effects on their finances.
In general, a study of the different acts in the states reveals that buyers must inform the seller of the difference between the value of payments in the current organized annuity compared to the price they will receive for the sale. Instead of selling to someone who performs ten transactions a month in a handful of small places, look for a company that is responsible for hundreds of transactions in many different states and counties. You don't owe income taxes when you sell a structured settlement annuity as a result of a personal injury. But if you specifically have a structured settlement and receive payments from an insurance company because of a lawsuit of some kind, you can almost guarantee that you can get help in the process of getting cash now by selling your structured settlement payments. Life-dependent structured settlements end at the time of their approval, so your payee cannot sell the settlement due to the terms of the original agreement.
Even better, as a recipient of a structured settlement, you have the right to sell part or all of your overall payment flow in exchange for a lump sum and that's where JG Wentworth can help. These are the three main parts of selling your structured settlement so you know exactly what to expect: getting court approval, finding a reputable buyer, and understanding taxes and fees associated with selling your payments. With this knowledge, you can make an informed decision about whether selling your structured settlement is right for you.
