Mistake that Gets Your Structured Settlement Transfer Case Denied
The #1 Mistake that Gets Your Structured Settlement Transfer Case Denied or Dismissed, Besides not having an IPA.
Not Enough Financial Disclosure on Paper
The court needs to see on paper: the amounts and sources of your monthly income and financial resources. If you are currently married, they’ll need to see your spouse’s monthly income and financial resources too. If you are divorced and paying alimony, bring proof of that.
The courts will ALSO need to see on paper your overall financial and economic situation; which means bring proof of all debts and all assets. The court cannot determine if you are truly experiencing a “hardship” situation unless you bring in proof of debt.
Child Support Obligations Are Okay!
The court needs to consider all of your future financial obligations for maintenance and support of your dependents, including child support obligations, if any.
The #1 Mistake
People come to court with no documents or declarations to prove their financial income, or to prove their debt. We see this all the time. What could be a successful transfer ends up in a dismissal. If you are having difficulty generating declarations or documents proving your financial status, the number 1 remedy is to ask for help from an adviser. Consult with an independent professional adviser. They can help guide you on how to legally declare your financial situation on paper for your day in court.