Steps for selling a structured settlement part 2
You have chosen a buyer for your structured settlement
and you are wondering what the rest of the steps are.
Now we’ll take you through the rest of the process so
that you know what you should do to make the process
as easy as possible.
1. Once you have chosen your buyer, you will need to
provide the buyer with some information. The quicker
you gather the information, the less time it will
take, but the process can last anywhere from two to
fourteen days.
The things that you may need to provide are the
following:
Release/court judgment/settlement agreement The
contract from the payment provider or insurance
company/Annuity policy Bank statement or stub to
verify payment Your own personal information, which
could include a state issued ID or driver’s license.
Copy of divorce decree or marriage license (if it
applies) Any documents discharging a bankruptcy (if it
applies) Information about your lawyer
2. After everything is in the buyer’s hands, this is a
good time to ask them what about the underwriting
process and how it works. Beware if the buyer says it
will be a short processing time.
3. Once the underwriting process is done, the buyer
will give it to a judge to review. Ask your attorney
if you should appear, and if it’s in your best
interests. Find out from the buyer what the costs are
and who will be responsible to pay them.
4. If your request is approved, the buyer will give
you the money.
Remember this is just a set of guidelines, and each
situation is unique.