The following is an overview of
the process to sell all or part
of your Structured Settlement.
This process usually takes 2 to 3
months to complete the legally
required steps.
- You contact Chestnut Hill Funding.
- We interview you to complete a worksheet which
includes information on your structured settlement and what you
are trying to achieve by selling all or part of your structured
settlement payments.
- We then forward the worksheet to our underwriter for a quote.
- Once a quote has been produced it will be presented to you for
review.
- If you accept the proposal, a contract will be created.
- We strongly suggest that you have this contract reviewed by your
own attorney before signing it.
- If after review you accept the proposal by signing the contract,
the legal review process will begin.
- The signed contract together with copies of the documents setting
up your structured settlement will be sent to the underwriter.
- A check will be done to determine if your state has a structured
settlement law which is modeled on the 2002 federal law. If not
another
state with a structured settlement law must be used. This is
usually a state where the insurance company paying your settlement has
an office.
- Next the insurance company making your settlement payments
needs to be informed that you are selling all or part of your
structured settlement. The notification needs to be done 3 to 4 weeks
before going into court to get approval for modification of your
structured settlement.
- A court hearing will take place to determine if selling all or
part of your structured settlement is in your best interest. You
should be at the hearing, if at all possible, to make the case why
selling all or part of your structured settlement payments is in your
best interest.
- The hearing judge should make a decision regarding whether
selling all of part of your structured settlement payments is in
your best interest.
- If the judge decides in your favor, a court order will be issued
providing instructions on how the settlement payments should be handled
in the future.It should be possible for you get a check for the sale of
your structured settlement payments within 5 to 10 working days after
the court
order is issued.
If you have additional questions, or if you would like to start the process to sell all or part of your future structured settlement payments, please click here to contact us.
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