Thinking about cashing out your future structured settlement or annuity payments to get money by the holiday season? J.G. Wentworth would like to remind you not to wait too long to get started. This is because selling structured settlement and annuity payments for cash can be a more complicated and time-consuming process than it may first appear.
For starters, let’s consider the process of selling structured settlement payments for a lump sum. First, you need to contact J.G. Wentworth to discuss your needs, along with the terms of your structured settlement agreement. If you qualify, and would like to move forward with the transaction, a cash offer will then be made to you by the company, and a contract sent to your place of residence. You must review the contract, sign it and then return it to us, in order to get the official process rolling.
Even after we confirm the transaction in writing, there is a mandated legal process that must occur. This process varies depending on the state you live in, but it does generally take anywhere from 8 to 12 weeks, because a judge must first review and approve the transaction. The bottom line is that while everyone’s situation is unique, if approved, cash from your future structured settlement payments will usually arrive within 60 to 90 days from the time J.G. Wentworth receives the company’s required documentation. That’s why it is so important that, if you want to try and get the money out of your future structured settlement payments by the holidays, you must begin the process of selling these payments as soon as possible.
Next, let’s consider the process of selling annuity payments for a lump sum. Once again, the first step that must be taken is to contact J.G. Wentworth to discuss your situation, along with all the details related to your annuity contract. Once our company establishes your qualifications and makes you a verbal offer that meets with your approval, the purchase contract is sent to your place of residence.
The good news with annuity purchases is that in most cases, the process does take a shorter amount of time than the purchase of structured settlement payments; in fact, cash for future annuity payments normally gets to annuity payment sellers within 2 to 3 weeks after J.G. Wentworth receives your completed contract and other required documentation. That said, however, everyone’s situation is unique, and the times may vary, so waiting until the last-minute to get the money out of your annuity by the holidays, is a strategy we do not recommend.
Would you like to learn more about the process of selling structured settlement and/or annuity payments for a lump sum? Or perhaps you would just like a jump on the holidays, and are ready to sell all or a portion of your payments now? Either way, our account executives are available to take your call anytime; simply dial J.G. Wentworth at 877-227-4713 for more information, or to receive your free, no-obligation quote.
Nothing above is meant to provide financial or tax advice. You should meet with appropriate professionals for such services