Can I Borrow Against My Structured Settlement?
If the terms of the settlement have already been established, it's a simple process to borrow against impending or current settlement payments. Finding the right buyout company is crucial to getting the most value from the transaction, which is why it's so important to perform research and request multiple quotes for the sale. Consider WePayMore Funding when collecting offers for the purchase of your settlement payments- a higher payout means more money in your pocket.
When Can I Borrow Against My Structured Settlement?
Since every case is different, the only way to find out how soon the transaction can take place is by consulting with a reputable buyer and letting them look into the details of your settlement. A buyout agency may be able to contact the lawyer involved with your case and find out whether the settlement's structure has been established to the point that it can be borrowed against. If your settlement is guaranteed, you can usually borrow against at least a portion of the payments.
Will I Have to Pay a Penalty Tax to the IRS?
In most cases, no, since the IRS is prohibited from taxing the income from a structured settlement. There are a few additional factors that will determine whether you'll have to pay the local or federal government a tax on the sale of your payments; however, most of the time the only fees you'll pay will have to do with the transaction itself. Working with our team at WePayMore Funding, you'll walk away from the deal with a higher payout and more money in your pocket- it's part of our Best Price Guarantee. Reach out to us with any questions you have or concerns about selling your structured settlement.
How Long Until I Get My Money After the Sale of a Settlement?
While most buyout companies are interested only in their side of the transaction, our staff at WePayMore Funding is looking for a mutually-beneficial trade, so that both sides will walk away satisfied that they got a fair deal. With other companies, a 45-90 day wait to receive the payout is typical. We understand that for many of our clients, that kind of timeframe won't meet their needs. For this reason, we work hard to get your money to you as quickly as possible. Some of our clients have received their bank deposits as soon as 2-5 days after signing the agreement.
Can I Turn My Structured Settlement into a Lump Sum?
In almost all cases, the only way to exchange settlements for cash is through the private sale of your payments. We receive a lot of phone calls at WePayMore Funding asking, 'Can I Borrow Against My Structured Settlement?' We love being able to tell our clients that they can not only sell their settlement payments but that we pay up to 20% more for settlements than any other competing offer they would receive from another company. Give us a call to find out how much your settlement payments are worth as a cash buyout.Can I Borrow Against My Structured Settlement