If you are a resident of the state of Kansas and you are looking to sell your structured settlement annuity for cash, it is vital that you carefully consider who you work with in the process of turning your structured settlement annuity payments into a lump sum of cash.
THE KANSAS STRUCTURED SETTLEMENT EXPERTS SUGGEST YOU THINK BEFORE YOU DECIDE WHO TO SELL YOUR STRUCTURED SETTLEMENT TO!
The process, known by some as factoring your structured settlement, or in transferring payments rights and thus getting "cash now" for your court or structured settlement, is regulated in Kansas by a law governing the structured settlement sale transaction. These laws based on the Structured Settlement Protection Act provide protections for consumers as to how they are to go about this process as well as providing some guidance as to the standards of who they can work with to get the sale of their structured settlement income to a third party done in a timely manner.
On this page, authored and provided by the Kansas structured settlement experts, we will be designing a series of updates and tutorials on the process and law in Kansas under the Structured Settlement Protection Act. A link to the actual Kansas structured settlement protection act and the state codes is provided here:
- 40-461: Structured settlement protection act; definitions.
- 40-462: Same; disclosure statement, contents.
- 40-463: Same; approval of transfer; required findings.
- 40-464: Same; discharge of structured settlement obligor and annuity issuer, when; liability of transferee.
- 40-465: Same; application for approval of transfer of structured settlement payment rights; procedure.
- 40-466: Same; limitations on provisions of transfer agreement.
- 40-467: Same; citation of act; applicability to workers compensation.
As a careful reading of these laws and procedures makes clear that it is is not possible to "get cash now" in a way that is responsible, timely and with court approval. Anyone who is offering to buy your structured settlement and is going to give you cash now, is simply creating an unrealistic expectation as to how long it takes to go through the necessary process of bidding out your structured settlement, obtaining a binding quote that is fair and then submitting it to the court for approval. Instead you need to work with a structured settlement expert, ideally located in Kansas or familiar with Kansas structured settlement protection and transfer laws!
With our series starting this month on the Kansas Structured Settlement laws you can learn the safest, fastest and most responsible way to sell your structured settlement. Be watching early in 2015 for this free and valuable information.