Just How Long Does It Take to Sell a Structured Settlement?
Selling a structured settlement doesn’t actually take as long as you might think. Here are just some of the things you should know. The Process Can Take a Little While From Start to Finish.
Many companies can offer quotes in as little as a few minutes when given the right information. Once the deal is settled, they’ll be able to pay out the lump sums within 60 to 90 days from the time the contract’s completed, and the required documents are gathered. In some cases, the money will be available in just 30 days. Why Might There Be Such a Wait?
Many states require anyone looking to sell a structured settlement to first get court approval. Depending on how many cases may be before you, you could wait 30 days to get on a court docket, or even 60 days. This largely depends on where you live, and what’s already on the docket there. At the same time, each state has its own regulations according to the Structured Settlement Protection Act, which is why the processing time varies so widely. What If You Need the Money Quicker Than That?
If 30 to 90 days is too long of a wait, then you may be able to qualify for a full cash advancement, or immediate cash. That being said, you can also expedite the process. The sooner you get the required documents in, the sooner you can begin the legal process. It’s also important to keep in mind that you may not be eligible to sell a structured settlement in the first place. Minors who receive structured settlement payments often have legal documentation that protects their assets until they’re 18 years old. Only in rare cases are adults able to sell these settlements on behalf of their children. Fortunately, however, if you are able to sell your structured settlement, it won’t take as long as you may fear, and if it does take too long, just be sure to get your documents handed in as quickly as possible, and consider the option of getting a cash advancement.