Questions we hear most often about structured settlements
Perhaps you’ve seen commercials on TV or saw an ad on a website and you’ve got questions about structured settlements, annuities and cash lump sum payments. While our website has a comprehensive list of Frequently Asked Questions (FAQs), we put together a list of the most common questions we hear.
What is a Structured Settlement?
A Structured Settlement is a financial arrangement that allows court-awarded compensation to be paid in regular installments rather than in one lump sum. These payments provide money for a fixed period or lifetime and are usually paid via an annuity.
What is an Annuity?
An annuity, in its simplest form, is a financial product that provides a stream of fixed, periodic payments over a specific time period.
How can I get a lump sum payment?
You can get a lump sum payment by selling all or some of your future annuity payments to a company like CBC Settlement Funding. They will give you a cash lump sum based on the value of your future payments.
Is it legal?
Yes, 48 states have laws in place regulating the sale of structured settlement payments to protect both the seller and the buyer. New Hampshire and Wisconsin do not have any regulations governing structured settlement sales. Fortunately, residents of these states can still sell their structured settlements by having their transaction carried out under the laws of the state in which that factoring company or insurance carrier is domiciled.
How long does it take?
The amount of time it takes for you to receive a settlement lump sum from the sale of your payment varies from 30 to 45 days, and in some cases can take up to two months, depending on the state you live in. While the customer representatives at CBC Settlement Funding makes every attempt to see that you receive your settlement lump sum payment as quickly as possible, there are circumstances beyond our control that delay the process including state law and the court systems.
If you still have questions regarding selling your future structured settlement payments, visit our FAQ’s section or call CBC Settlement Funding at 877-386-3377.