Sell your structured settlement for cash, what does Alabama law say you can do?

Many residents of Alabama struggle with the question of how they can go about the process of selling their structured settlement income, so as to raise cash they need now in exchange for a reduction in their promised future payments. What makes these questions difficult is not that the process is overly complex or with out regulation, but the fact that most people enter into the process with almost no knowledge of what the law in their particular state is. 

Instead they are led by phone, TV, radio or internet solicitation to call a number, contact an expert and start the discussion about one of the most important financial decision you might ever make, but you are doing it under duress and with limited information available. The fact is that 48 states, with Alabama being one of them, have strict laws and procedure that must be followed by a structured settlement purchaser or factoring company when they work with you to sell future payments. Did you know:

  • There is a law called the Alabama Structured Settlement Protection Act which has been in place since 2001 and which outlines the fact that you need court approval before you can sell your structured settlement income?
  • That under that law you have the right, and in 9 states currently are required, to engage an Independent Professional Advisor to assist you with this process?
  • That a firm offering you cash now, really can't give you "cash now" for your structured settlement but must develop a series of legal documents, pricing illustrations and other material so that a court can approve any deal as being in your best interests, before you can effectively sell your payments?
  • That many times once you start the process of selling your structured settlement that you will be contacted by many firms all looking to replace the purchasing company that you started the process with and you will need to fend off those calls and sort out competing offers?

In effect, you need to understand that this is a transaction where you will benefit from working with reputable companies, obtaining professional assistance and making sure that when you get to court your sale will be approved as the documents, legal process and financial particulars are all in order. This is no longer a transaction where you should attempt to go it alone!

The Structured Settlement Expert Directory is in place to specifically help Alabama residents find local structured settlement experts whether they are currently being offered a settlement in litigation or looking to sell future payments for cash. Please contact us so we can put you in touch with the Alabama structured settlement expert and talk with them about the process instead of going it alone.

What is the Alabama Structured Settlement Protection Act?

If you are a resident of the State of Alabama and are considering selling your structured settlement income for a cash lump sum you need to take the time to read over and make an attempt to understand the Alabama Structured Settlement Protection Act. This legislation was put into place in 2001 and outlines your rights, the process and potential legal issues you might face as you work through this important decision.

Beyond just reading the law however, you also need to recognize that one of the biggest issues in the transfer of annuity payments is the selection of the company you work with on this vitally important transaction. Often times people will simply call an 800 number off a TV or radio ad, or respond to a direct mail solicitation, with out any idea whether or not they are getting the right price or working with someone familiar with Alabama law and the nuances of the Alabama Structured Settlement Protection Act. This directory is designed to work with a wide range of professionals, from transfer attorneys, to purchasers of cash flows, Independent Professional Advisors and structured settlement experts. 

If you are serious about finding someone in Alabama, or at least who is familiar with the transfer law and structured settlement law in the state, please use our contact form listed here and we will be happy to refer an expert for you to speak with. This is an important and often lifetime financial decision which requires careful analysis and pricing to make sure you are getting the best possible price. 

Selling your structured settlement payments in Alabama

One of the most difficult decisions that many structured settlement beneficiaries face during their life is whether or not they should sell some or all of their structured settlement payments in return for a lump sum payment. This transaction, which is known by various names, such as factoring, payment stream purchase, or assignment of future structured settlement benefits, essentially is a transaction where you agree to give up some or all of your promised payments, in return for cash now. 

The Structured Settlement Expert Directory is a resource developed to assist Alabama residents in finding a local structured settlement expert to work with them in the process of deciding the following key questions:

  • Should I sell my structured settlement payments at all?
  • Should I sell all or part of my future payments in my structured settlement?
  • Who is the best source of information on selling structured settlement payments?
  • Is there a local Alabama structured settlement expert who can assist me in finding out what the best deal is for me on my structured settlement agreement?
  • What should I expect to give up in benefits in return for selling my structured settlement future payments to a third party?

These and other crucial questions need to be answered before anyone should consider selling their payments, as this is a vitally important decision that can impact your financial future. 

If you are looking for the local Alabama Structured Settlement Expert who can help you with this decision, please go to our contact me form. We will get back to you shortly with recommended experts for you to speak with and meet with in your area who can review all of your options and the best way to proceed with this transaction. 

How to find an Alabama structured settlement agent or expert to answer your questions

The Structured Settlement Expert Directory is the nations only independent, locally focused directory listing of structured settlement experts, agents, settlement purchasers and independent professional advisors.

If you are a resident or attorney in the State of Alabama, or the cities of Mobile, Birmingham and Tuscaloosa, you may contact our settlement expert services office and we will assist you in locating someone in your area who can assist you with your case, structured settlement or settlement planning question.

Our firm has access to local professionals who work either with defense attorneys, plaintiff attorneys or at the request of the court. Which ever side of the transaction you are working from, we can find someone to assist you on your case.

You can call our office at 480-478-0183 or use our email form link here on the site and we will get back to you as soon as possible.