It’s an all-too-common scenario: the security of structured settlement payments is overshadowed by an immediate need for a large lump sum—big bills require big money. Rather than waiting month after month (or quarter after quarter) to get cash-in-hand, you can sell your structured settlement payments–It’s a time-saving option that gives you access to the cash you need, without the worry of paying it back.
But what comes next? Recipients looking to boost their income might ask the question, “How do I sell my structured settlement?” Well, we’ve created a simple, no-fuss process that easily addresses those very concerns. In addition, our representatives are knowledgeable and will be there to guide you every step of the way.
How to Sell Your Structured Settlement to RSL Funding
Step 1 – The first step starts with a call or a request for a quote. Send us a short message explaining who you are, your current situation, and any other information you consider to be relevant.
Step 2 – One of our Senior Account Executives will contact you with information about the worth of your structured settlement. If you accept our offer, the Senior Account Executive will collect any necessary information needed for your application to be complete.
Step 3 – Once you submit the signed contract, we will verify any necessary information before sending along our transfer agreement. Our agreement details the upcoming actions RSL Funding plans to take and ensures that you understand what these actions mean and how they affect you.
Step 4 – RSL Funding files a petition with your state’s court. A petition is essentially a request for action by the court, and generally precedes a court hearing. Once a hearing date is set, RSL Funding will contact you and all related parties (such as your annuity issuers and owners) to inform you of your upcoming date.
Step 5 – RSL Funding will continue to process your transfer by remaining in contact with your structured settlement issuer in preparation for the hearing date. There will be a court-sanctioned “waiting period” of 30 days between the date of your contract filing by RSL Funding and the court hearing to prevent any future claims of “coercion.” At this stage, you are free to seek independent professional opinion before confirming the sale of your structured settlement payments.
Step 6 – On the day of your hearing date, the court will discuss your current situation, including any grievances you might have or your intended use of your structured settlement buyout. You are expected to be present at the hearing. The judge will use the evidence presented in court to decide if the sale of your structured settlement is in your best interest and will not cause future financial harm. If approved, you and your annuity issuer/owner will negotiate and sign a written stipulation with RSL Funding.
Step 7 – A final review of the court order will be signed and executed by the judge. RSL Funding takes care of the rest by preparing the deal for funding.
Step 8 – Your structured settlement payments will close permanently (if you engage in a full sale of your settlement) or for a certain number of months or years (if you sell part of your settlement).
Final Step – Get your cash!
All-in-all, selling your structured settlement payments shouldn’t be a difficult process. If you’re still asking, “How do I sell my structured settlement?” give us a call. When you reach out to RSL Funding, you’ll experience a smooth, easy transfer guided by trained, experienced professionals. Call us at web_phone or fill out the quote request form to get started.
You can also use our annuity calculator before you sell annuity payment, structured settlement, or lottery payments. structured settlement, annuities and lottery payments.
