Federal and state laws strongly regulate structured settlements, but this regulation should not be viewed as something that could prove to be a hindrance in selling your payments. Instead, the ability to get a significant amount of cash by transferring your payment rights can help you achieve financial goals that would otherwise be impossible.
The Key Elements
Before deciding on selling, it is recommended to hire reputable and trusted financial advisors who know a thing or two about the process. These companies can make sure you sell structured settlements in a way that fits with your long-term fiscal goals.
There’s been quite a bit of fraud in this industry, so it’s best to sell structured settlements to a reputable company. You will first need to get approval from legal channels. It can take up to 60 days, so it’s imperative that you apply as early as possible. Once you have decided to sell the settlements and negotiate the terms, you can file an application to seek legal approval.
How Much Is Your Structured Settlement Worth?
The worth of the settlement is at the present value of your contract, but this is certainly not the amount you will receive. Whenever you decide on selling, the factoring company will calculate the current value and the future value of the payment. They will also subtract the growth potential.
Additionally, they will also calculate the discount rate, which typically falls between 9% to 20%.
Apart from this, they will also consider the current market rates, the economic conditions, and the services and transaction fees to determine the worth of the settlement before giving you a quote.
Contact WePayMore Funding LLC for more details.
