Cash For Structured Settlements: I’ll Get It When?

If you want cash for structured settlements right away, you should know that finalizing the deal and actually getting your money could take some time. In many cases, it will take from 60 to 90 days to actually receive your funds.

The delay is caused by the approval procedures that must be followed. However, you probably shouldn’t make decisions like this overnight. Let’s take a closer look at the timeline of receiving cash for structured settlements so you won’t be surprised by a normal delay.

Everyone is probably familiar with JG Wentworth’s television ads that have people shouting, “It’s my money and I need it NOW!” Although that sentiment may be true, you may have to take a little literary license with the word “now.” Transactions to get cash for structured settlements take some time. If everything goes perfectly, you’re probably looking at four to six weeks of waiting for the cash. The more typical timeframe is 60 to 90 days between initial contact and delivery of the check.

To be perfectly honest, the usual holdup is on the governmental side of the equation. Let’s say you contact a firm that provides cash for structured settlement on Day One. With the use of express courier companies and allowing a minimum amount of time for thinking, you can probably hammer out a deal in about a week. But after that, the paperwork is handed off to an attorney who must run it through a series of government mandated hoops.

You see, the structured settlement was originally designed to be in your best interest. The state and federal governments want to make sure the new setup is equally beneficial for your financial affairs. So everything you do with the potential buyer must be approved before it can happen. Waiting for government or court approval usually accounts for 75% to 90% of the wait time.

However, you shouldn’t fault the courts or government agencies. Turning your structured settlement payments into cash is a big move and not one to be taken lightly. You will be giving up guaranteed tax-free income in exchange for a one-time cash payment. Once that’s done, management of your financial affairs will be completely up to you.

As you can see, there’s a good reason why getting cash for structured settlement payments doesn’t happen in a day. Count on anywhere from 30 to 90 days to receive your cash. Most of this time is taken up in the governmental approval process. But you should allow the process to work so that you can be sure this significant decision is the right one to make.