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What's Next Once I Sell My Settlement Payments

Before making a decision...

We naturally wonder what our life will look like once we have made it. It's important to consider how making a big change will affect your life. The Fortune family wants to help you think about what your life might look like after you sell your structured settlement payment and finally have the lump-sum of cash you need. You probably have questions about what happens before and after the process of selling your structured settlement. Let's quickly glance and what you should expect after you've negotiated the sale of some or all of your future structured settlement payments.


You might be wondering: How long does this take? Because of the way most settlement purchasing companies advertise, people might assume that the process is nearly instant. This is a myth used by these companies to trick you. It can be uncomplicated and fluid if done correctly, but this doesn't change that the process can actually be quite lengthy. It varies from state to state, which is why you're better off choosing Fortune if you live in Florida, and the whole process can often take up to three months before you finally reach a judge. Luckily Fortune works with you and your situation, and if your cash need is more urgent we may be able to give you an interim cash advance. As you never know what the judge has on the docket before your case, it's difficult to predict the exact timeline.

What is Court like?

Now that you know that the timeline can be less predictable you'd prefer, you may be thinking "well once I've done my waiting, what happens in court?"
Seeing the judge in court has a simple purpose. Your situation will be evaluated. It will then be decided whether or not your payments can be transferred and you can or cannot receive your Lum-sum of cash. The worst that could happen is that the court decides you're not in enough need to receive the cash now. But don't worry. Fortune makes sure this will not happen.

All you will have to do at this point is answer a few question the judge asks. We'll go over this more with you once you've decided to work with us. Just so you have an idea, though, the questions could include the following.

◦ 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)

Other questions you could be asked follow the same thread. As long as you have plans for your money and your future, you will be fine. Again, Fortune is here to walk you through the process as it pertains to your life and your future. We will make sure you get the outcome you need.

Within a few days after the court appearance, Fortune will receive an order approving the transfer from the court. Right then and there, Fortune writes you your check or sends you your wire transfer. And voilà, you have your lump-sum of cash to begin this new phase of your life.

What About Taxes?

Structured Settlements are largely known for being nontaxable. Many people choose this option when settling their lawsuit because they know that they won't have to pay taxes on the income received from these payments. Since lump-sum settlement payouts can indeed be taxed, it's a huge selling point.

This does not mean that your payout from selling your structured settlement will be taxed. Again, if you originally chose a lump-sum payout when settling, you will likely be taxed on this payment.
Generally, structured settlement annuities stay as non-taxable when sold to get a lump-sum. Individual circumstances can make a difference, however.

Or Paying Off My Debt?

Maybe having the lump-sum doesn't solve all your problems and you're still a little confused on how to resolve your debts. Talking to a debt counselor and reviewing your options might be a good idea. For instance, you can contact the National Foundation for Credit Counseling (NFCC.org) to find someone who can help you around where you life.

How Can I Use My Lump-Sum?

People sell their annuity payments for a variety of reasons, but they usually have some time-sensitive reason to need the money quickly. Either way, here are some of the ways in which you can use your lump-sum payment:

Pay for College

Invest in your future and yourself. Going to college to study and learn about what you want for your future is always a marvelous decision. Think of you.


Talk to an advisor or someone who knows finances and flesh out your possible investment options. You can invest in stocks or put your money into a mutual fund. Just make sure you're both safe and smart; do your research and talk to experts first!

Buy A Home!

Owning a home is its own investment, of course. Whether you want a condo, a house, or an apartment near the city or beach, you can both alter your life for the better and gain a valuable asset you can later use for profit.

Buy A Car!

Your own car means no more lease payments, true freedom to choose when and where you go, and the possibility to find a job or go to any job. The market is flooded with sturdy, safe, high-performing cars that are also inexpensive! These can last you years when taken care of well.

Improve Your Home!

If you have a place that you own, you can use your new money to make improvements upon it. Improving your home with renovations not only makes your everyday living experience a little nicer, but it adds lasting value to your home for the future.

Can I Sell My Payments Again?

Some people assume that if you already sold some of your future structured settlement payments, you can no longer sell any of the remaining ones for a lump sum. This is absolutely false!

You can, of course, sell your structured settlement payments for a second time, even though you have sold some already!

You won't get punished for merely being sensible the first time that you sought a lump-sum in exchange for some payments. Life understandably continues and circumstances arise for which we can't account. Even when things go as planned, we can't always calculate for external changes and necessities. There isn't a legal limit to the amount of times you can sell your structured settlement payment; so don't worry about this possibility.

Fortune Settlement Solutions is here to help if you need to sell your payments for either the first time or a repeated time. We want to help you accommodate for the changes that life brings.

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