How Long Does it Take to Sell Structured Settlement Payments?
If you want to sell your structured settlement payments and you’ve done your research, you probably know it can take weeks or months to finalize the transaction. Some organizations will promise four to six weeks, but the reality can vary significantly based on where you live. It may seem like there isn’t that much to do. Where does all the time go in the selling process?
The basic steps to sell your structured settlement with CrowFly are straightforward:
- Share your payment details.
- Get a quote.
- Complete your paperwork and list the asset.
- Transfer the rights to your future payments after a buyer makes an acceptable offer.
Should be fast, right? But the full process to sell your structured settlement and get your money takes time, no matter which company you choose to sell through. The three lengthiest elements of the transfer process are as follows.
Getting Your Initial Information
You will need to share documents from your insurance company that validates your current structured settlement policy. If you don’t have the necessary records, CrowFly can request them from the insurance company that owns the payments. There may be some waiting to receive back all the documentation. Believe it or not, the delay at this point is often about getting your authorization for the material.
Completing the Necessary Paperwork
Once you accept a buyer request to purchase your asset on CrowFly’s platform, we will work with you to quickly complete the court-ordered documents. Delaying signing and returning the documents only adds to the waiting time, which is why it's so important to take care of these items right away. With your money on the line, once you have found an offer and terms that work for you, we encourage you to complete this step quickly.
Waiting for a Court Hearing
Once you have completed all the necessary paperwork with our help, a mandatory transfer attorney will send the completed documents to the court and request a hearing date to petition the sale of the asset. Court approval is necessary to complete the sale. However, the court can sometimes take a while to designate a hearing date (as much as 60-90 days for some courts). So, this part can sometimes be a bit of hurry up and wait.
The good news is that once the judge approves the sale, the transfer attorney only needs to file the judge’s order for the sale of the asset, and you’ll receive your funds within days.
Questions about the process? CrowFly can help. Contact us today at (888) 560-6629 or get started here to discuss the process of transferring your future structured settlement payments. Educating annuitants is important to us, and there is no obligation to use our services when you call.