The industry standard for selling your structured settlement is 45-90 days. However, customers should be aware that RSL Funding offers exceptional service and the promise of the most money for the sale of your structured settlement payments, making the wait worth it. The court approval process typically takes 45-60 days. The statute outlines several mandatory time periods.
Generally, the process takes 1-3 months, depending largely on how quickly the court hearing is scheduled. We've heard many stories from people about how long it took them to sell structured settlement payments when they initially chose an inexperienced structured settlement buyer. In these cases, many structured settlement beneficiaries opt to sell part or all of their annuity in exchange for a large lump sum of cash. Legal requirements for the sale of a structured settlement can delay the buyer's receipt of money, which can affect the final offer.
So how long does it take to buy structured settlements? The time from when you request a quote from a financing company to when you receive payment for the sale can range from 45 to 90 days. While monthly payments provide a steady stream of income in the future, some people prefer to sell part or all of their funds for important financial events, such as buying a home or paying off high-interest debt. When you sell some of your future payment rights for a lump-sum payment in cash, you transfer the rights to those future payments to a third party, also known as a factoring company. You'll need to provide documents from your insurance company that validate your current structured settlement policy.
Moreover, when it comes to obtaining the full lump sum for a structured settlement sale, no one in the nation will work harder to get it to you faster. Nearly every state in the nation has passed laws that control how a structured settlement sale should be conducted. This is known as a structured settlement transfer (SST) or structured settlement factoring transaction. After the court approves the transaction, you will send a copy of the order to the administrator of your structured settlement.
You can get an estimate from a structured settlement calculator, but keep in mind that no calculator can account for the detailed terms of your contract. A reliable structured settlement company can analyze your needs and offer you the right solution for your financial objectives. Structured settlement annuities are great options in personal injury cases because they are tax-free and guarantee income over time.