Determine how much money you need now and contact High Rise Financial. We will assess your eligibility and financial needs and establish how many payments it will take and the lump sum we can offer. If your state has a waiting period, we’ll wait.
When ready, you will sign a contract, and we will take all relevant documentation to court. Depending on the court schedule, they will set a hearing date and approve your request. After they approve, you will get your lump sum, and High Rise Financial will handle the rest.
- What Is a Structured Settlement?
- Can Selling a Structured Settlement Help Me Climb Out of Debt?
- What Should I Look for When Selling My Structured Settlement?
- What Is the Length of Time Needed to Sell a Structured Settlement?
- Am I Required to Sell All Future Payments?
- Are There Risks in Selling a Structured Settlement?
- How does Selling Affect My Taxes?
- What Are the Documents Needed to Sell a Settlement?
- How Much Is the Lump Sum I Can Get?
- What do I Do When I Am Ready to Sell?
What Is a Structured Settlement?
Structured settlements are payments you get monthly for a personal injury lawsuit. These tax-free payments are an option that your lawyer can opt for instead of going to trial. Conversely, the defendant can arrange these payments when they lose.
Once you agree to a structured settlement, there will be an assignee and the insurance adjuster to set up the purchase of an annuity. Next, they will determine the payment schedule to disburse these payments, either every month, quarter, or yearly.
To apply for free, call (877) 735-0016
Can Selling a Structured Settlement Help Me Climb Out of Debt?
There are pros and cons to structured settlements. If you have medical bills, you can make monthly payments using your structured settlement, and you know you will get a predetermined amount on a set date for a specific period. You are confident that no matter what happens, you have this income.
However, if you have substantial debts and need a lump sum now, you need more than structured settlement payments. You have options. You can sell your structured settlement to receive a lump sum from High Rise Financial and climb out of debt faster.
What Should I Look for When Selling My Structured Settlement?
You must find a company to purchase a portion or all of the structured settlement payments and pay you one large sum in exchange. You see structured settlements in personal injury cases like medical malpractice, car accidents, and wrongful death. When there are large settlements, the insurance company will try to set up these payment schedules for their benefit.
If you fall into these categories, you can sell some or all of your structured settlement. Speak to High Rise Financial to assess your eligibility for selling your settlement.
What Is the Length of Time Needed to Sell a Structured Settlement?
The process varies by individual but typically ranges from 45 to 60 days. The most considerable delay is getting court approval. The court will scrutinize your agreement and ask for documentation before they make a decision.
Your state will also determine how long you will have to wait to sell your structured settlement. These settlements only help if you need cash now, but you must consider your options by calling High Rise Financial.
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Am I Required to Sell All Future Payments?
No, you do not need to sell all future payments, as many options are available. You should discuss your financial needs with our representatives to determine how much you will need and, therefore, how many payments you must sell. In most cases, you have three options for selling your structured settlement, including:
- Sell all future payments
- Sell a group of payments for a specific period
- Sell a portion of all future payments
Ensure you account for the lack of structured settlement during the specified time to avoid finding yourself in a pinch. Having flexibility with your structured settlement means you can get the lump sum you need now and pick up on your payments later. It is a win-win for everyone.
Are There Risks in Selling a Structured Settlement?
There are no risks, but you must understand that you will not get those payments back when you sell your settlement to us. The court also wants you to understand what you are signing and ensure you know what happens to your structured settlement. Risks are personally assessed, and everyone has different circumstances.
How does Selling Affect My Taxes?
There are no tax consequences to selling your structured settlement, and the IRS cannot apply taxes to structured settlement payments. Some exceptions are when your settlement includes punitive damages, lost wages from emotional distress, or discrimination settlements. Assess your tax risks when contacting High Rise Financial or talking to your tax preparer.
What Are the Documents Needed to Sell a Settlement?
While circumstances vary, you will need a copy of your annuity contract, government-issued ID, proof of residency, settlement agreement, and any documentation for your settlement. If you are still determining documents specific to your case, you can ask a High Rise Financial team member. We can tell you what you need and help you gather some documents.
How Much Is the Lump Sum I Can Get?
The amount of your lump sum will vary depending on individual circumstances, and some factors we will consider include the following:
- Future payments
- Amount of payments
- Frequency of payments
- Your payment schedule
- How much you need
- If you sold any payments in the past
- The insurance company that issues your checks
These and other factors will determine your lump sum and how much we can offer you. We can give you a quote for your structured settlement, but it can change over time if you do not accept it. The main reason your quote can change is that the value of your settlement payments can also change.
What do I Do When I Am Ready to Sell?
When you are ready to sell your structured settlement, you must gather your documents and call High Rise Financial for a quote. Once you decide to work with us, we will begin processing your request and submitting documents to the court for your lump sum. We will work as fast as we can, but we are all at the mercy of the legal system.
You can call High Rise Financial anytime to discuss your options in determining the best outcome for your structured settlement. Use your lump sum to get out of debt but always account for the lack of income after you sell.