Call SSCS today and speak to one of our account executives.
We will walk you through every step of the process and get cash to you as quickly as possible.
You don't need a lot of information before you call us. In fact, you are welcome to call us if you just have questions. Any information you happen to have will be helpful. If you want to get a quote as soon as possible, have this information available for our account executives:
The name of the insurance company that issues your structured settlement payments
How much is each payment?
How often do you receive the payments?
How many payments do you have remaining?
How much cash do you need now (what are your financial goals)
If don’t have this information, a good place to look is your benefits letter or annuity contract. If you can't find the paperwork, our account executives can assist you in getting another copy. Once we have the information we need, our account executives will prepare a quote for you. If we get everything we need from your first call, we’ll typically be able to have a quote to you the same day.
We try to build a quote that gets you the amount of money you need while leaving the rest of your payments intact. Many people only have to sell a portion of their payments to get the amount of funds needed.
There are three ways you can organize your transaction:
Full Buyout: Sell all your remaining payments for a single lump sum of cash
Partial Payment: Sell a portion of each payment for cash now
Sell Some of Your Payments: Sell the full amount of your payments for a set period of time and keep the rest
If you determine that you want to take the offer from SSCS, we will immediately prepare the contract that will allow us to buy your payments. We will send the contract to you to review and sign. Once we have the signed contract, we will file with the courts in your state to get the courts to approve the transfer of payments. State law requires that we obtain court approval. Seeking court approval is usually not difficult. We will file the court action and get a court hearing. We will get the soonest hearing available at the court.
When a judge approves a transfer, SSCS will get your money to you as quickly as possible. We let you choose how you get your cash. We can direct deposit the money into your bank account, or we can overnight a check to you.
Why is Court Required When Selling Your Settlement?
The first question we always get is: How long does the process take? Because of the way most settlement purchasing companies advertise, people might assume that the process is instantaneous. This is really just marketing jargon for indicating a speedy transaction. It can be a fairly simple process if done the right way by the right company, but the process can actually take weeks or months depending on a number of factors. The most obvious variable is that the approval process from the judge varies from state to state. Contact Second Street for a more detailed timeline after we assess your case.
If you live in Texas and are receiving structured settlement payments, but find that your financial goals are still out of reach, Second Street is the answer. We have 16+ years of experience purchasing annuity or structured settlement payments. In most cases, transferring a structured settlement involves large sums of money, and that’s one reason we have laws to regulate transfers. To sell the annuity through which your structured settlement is funded, a judge must clear the transaction. The transaction will go forward only if he or she approves it. This is sometimes seen as an annoyance when you need cash fast, but it is for your own good and many times can save you thousands of dollars and more time in the end. The Structured Settlement Protection Act of 2002 was enacted to protect those who receive court-ordered settlements and ensure they get the full benefit intended in their agreements with their purchasing company. The law also created safeguards and made the deal and transfer process more transparent for the seller. Under this law, Judges who approve or deny structured settlement transfers must do so under what’s referred to as the “best interest standard.” The judge must be sure that the sale will benefit not only you, the settlement owner, but also any affected family members or dependents.
When you appear in court, the judge is going to ask questions regarding the impending sale.
Some of the most basic questions include:
Have you shopped around and vetted the company you’re selling to?
Do you definitely need cash now? Is the money to pay necessary bills or make thought-out investments?
With your available resources, is this the best way possible for you to get the money you need?
Will selling your future settlement payments danger your financial situation?
Have you been walked through all your sale options? Have you considered each one? (For instance, selling some of your future payments versus selling them all)
Are you aware that you’re getting less money by selling now than you would if you waited for the installment payments?
Do you fully understand the transfer agreement?
Has the agreement been reviewed by an attorney or other professional who is not working for the company you’re selling to?
The judge may also want to know if you’re having any current medical issues and how you’re paying for your care today and in the future, or if there is anyone who might oppose the sale.
As with any legal proceeding, selling a structured settlement is going to involve paperwork. While there won’t be an overwhelming number of documents required, the paperwork is a critical part therefore needs to be complete and completely accurate. Start thinking about the paperwork as soon as you make up your mind to sell your structured settlement. This will help you avoid any surprises or delays down the road.
Some of the documents you will need to get your structured settlement transfer approved include:
Identification
Settlement and Release Agreement
Sale Documents
Annuity Policy
While not required, it’s also usually a good idea to bring a record of your most recent annuity payments.
Seeing a judge in court has the simple purpose of evaluating your situation and decide whether or not your payments can be transferred. Worst case scenario is that the court decides you're not in enough need to receive the cash now. But don't worry, that’s rare and Second Street can help you every step of the way.
Choosing The Right Company To Buy Your Structured Settlement
If you have an annuity, you have the ability to sell your payments for one lump sum of cash up front in exchange for a portion of your settlement. Second Street Capital Solutions offers settlement owners instant cash in exchange for selling some or all of the future settlement payments. When a secondary market transaction occurs, instead of getting the future payments, the buyer is the recipient of the payments and the former owner gets a lump sum from the buyer.
If you are facing financial woes such as medical debt or home foreclosure, as the owner of a structured settlement you may choose to sell some of your payments. When an annuity is set up, it’s usually customized to meet your needs. However, sometimes those needs change and you as the structured settlement owner need to access your money all at once. Selling your upcoming payments allows you to gain access to your money quickly.
Federal and state laws exist to protect consumers against deceitful companies. However, be sure to do your homework on whatever company you are considering selling your settlement payment to. Do an online search and see if any negative customer reviews come up. Few companies can have a flawless record, but if you’re seeing more than 15% of reviews as negative reviews or an overall “star rating” of 3 or less, move along. Another thing to consider when looking at reviews is the response from the company. If they have not replied at all, it’s a bad sign. If they respond and seem focused on fixing the reviewer’s issue, that’s a good sign. Don’t be too alarmed if you don’t find many reviews, sometimes that just means a company is rebranding. A great place to look is at the website for Better Business Bureau. They examine and sign off on companies prior to offering them an A+ rating and allowing them to display their logo on the company's website (like you can see in our footer below).
There are several major companies, such as JG Wentworth most famously, that offer these services. It’s important to keep in mind however, that JG and Peach Tree, as the largest provider of these services, offers payouts far lower than you could get by working with a smaller company. They have massive overhead and advertising costs. Companies like Second Street Capital Solutions get our business from word of mouth and more direct online marketing efforts which allows us to keep our costs down so we can pay out high. You should always look closely at smaller companies for the best value and best customer service. Reputable smaller companies can offer you the best deals on selling your structured settlements fast.
Once you sell your structured settlement, the purchaser becomes the receiver of some or all of your upcoming payments. In exchange for giving you this income, we at Second Street Capital Solutions offer you a lump sum large enough to solve your current financial struggle or to kick-start whatever endeavor you are interested in such as an investment or college tuition.
When working with Second Street Capital Solutions on selling your structured settlement, you’ll notice we provide you with all of the end-of-deal fees in writing with no attorney or compliance fees are passed onto you. For us, it’s important to be transparent and fair always. If your quote says you should get $84,000 for selling your future payments, then that is the precise amount that will be listed on the check. Don’t let other companies take advantage of your experience with selling your settlement! You can always trust Second Street Capital Solutions.