Reasons Some Requests Are Declined: There are many reasons that a request to transfer a structured settlement would be denied. But the reason given most often is when the judge feels the transaction is not in the annuity holder’s best interest. The court has to see clear reason why a transfer will help the payee along with a tangible financial need. If this criteria is not met then the request will be declined.
There are other cases where a settlement can be declined and that is when the payout is considered by the judge to be less then fair. If an annuity recipient goes to court requesting a lump sum payout and the amount being offered is well below what a judge would deem to be fair then he/she may reject the request.
There are many different ways the above reasons can cause a transfer request to be declined so work closely with your settlement buyer to make sure you don’t waste time, money and effort perusing a cash payout if one will not be granted.
Buyers will Help: However, it is important to note that the companies that purchase settlements are experts in this process so they will be able to guide you on what will get approved and what won’t. They can help you on the path to getting approved or pointing out when a request is unlikely to get approved so you won’t waste your time. To be safe, you should ask this question early in the process. Ask if they think your request will approved and if there is any risk of it being declined. This answer will give you a good indication if it makes sense to continue or now.
To start the process you can click on the button below and you will receive a few quote. You can also talk to an expert that can provide some light on the process and guide you based on your particular circumstances.