Thinking about selling my structured settlement annuity payments for cash - are there any penalties involved? skiairplane
I am not sure of penalties, but they do charge a fee and to my knowledge they are high fees.
john n
The premise behind such a transaction is that you would prefer a large lump sum payment as opposed to many smaller payments over a period of time. This "convenience" comes at a price, however.
Typically you can expect to lose 20 to 40 percent of the total monetary value by doing such a transaction.
amontef
Check into a company like below.
DeeDee
the company will take up to 50% for themselves, in order for you to get a lump sum settlement.
Selling
If by penalty, you mean a discount on the value of your structured settlement, then yes. The cash you will receive up front typically is worth approximately 50% of the value of your total payments - but shop around, as you may find some buyers offer much better terms than others.
There are only a few cases where it makes sense to sell your structured settlement payments - if you are very skilled with outpacing inflation through investments, have a business you want to invest in, or if you have a short life expectancy and want to simplify estate planning, to name a few.
Check below for more pros and cons to selling your structured settlement.
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Thinking about selling my structured settlement annuity payments for cash - are there any penalties involved?
