1
Review Your Payments
Consult your structured settlement annuity policy to determine what payments remain due and owing to you. If you have sold payments in the past you should also note those payments that are no longer available for sale.
2
Determine Cash Needs
Take some time to calculate how much cash you need and how receiving a lump sum payment could improve your financial situation. Every client’s circumstances are unique, whether you are facing medical expenses, paying off debt, purchasing a home, starting a business, covering education costs, or simply seeking greater financial stability.
3
Receive Your Quote
Contact Genex Capital and our experienced staff will take the time to understand your individual needs, goals, and circumstances so we can help structure a solution that works best for you. By sharing your story and financial objectives, we can better tailor the transaction to provide meaningful financial relief and long-term benefit. You will be provided with a price quote that sets out the payments you will be selling, the purchase price, and the discount rate involved.
4
sign documents
Accept the offer and you will then be provided with a structured settlement sales package to sign. Genex Capital arranges for the documents to be delivered to you by DocuSign or by notary public. You can then discuss the document package and arrange for its signing and notarization all at no charge to you. You can do this in the convenience of your own home.
5
file court petition
Once the document package has been returned and the mandatory cooling off period has expired (as determined by the State in which you reside, but usually 3 to 10 days), Genex Capital will file a court petition with the State Court usually in the county in which you reside.
6
schedule hearing
You will be notified of the court hearing date, which date shall not be less than 20 days after the petition has been filed.
7
attend court hearing
You will need to attend court on the specified date (either in person or by Zoom/Teleconference) and will be accompanied by Genex Capital's attorney, who represents Genex and not you (and your lawyer should you choose to retain one) so as to speak to the judge hearing your case so as to allow him or her to determine that the transaction is in your best interests. Usually the hearing lasts about 15 to 30 minutes or less.
8
obtain court approval
In the vast majority of cases, the judge will approve your case during the hearing and grant an order transferring your structured settlement payments to the funding company in return for the agreed upon purchase price. Genex Capital has a 95% success rate at these hearings.
9
receive your money
Following receipt of the court order, Genex Capital will complete the closing measures and fund you the agreed upon amount. Genex Capital commits to funding its clients within 10 business days following receipt of these documents. Genex Capital funds by wire transfer of immediately available funds directly to your bank account. There is no hold period and you can use the funds immediately. The monies you receive are TAX FREE.
1
Review Your Payments
Consult your annuity policy to determine what payments remain due and owing to you. If you have sold payments in the past you should also note those payments that are no longer available for sale.
2
Determine Cash Needs
Take some time to calculate how much cash you need and how receiving a lump sum payment could improve your financial situation. Every client’s circumstances are unique, whether you are facing medical expenses, paying off debt, purchasing a home, starting a business, covering education costs, or simply seeking greater financial stability.
3
Receive Your Quote
Contact Genex Capital and our experienced staff will take the time to understand your individual needs, goals, and circumstances so we can help structure a solution that works best for you. By sharing your story and financial objectives, we can better tailor the transaction to provide meaningful financial relief and long-term benefit. You will be provided with a price quote that sets out the payments you will be selling, the purchase price, and the discount rate involved.
4
sign documents
Accept the offer and you will then be provided with an annuity sales package to sign. Genex Capital arranges for the documents to be delivered to you by DocuSign or by notary public. You can then discuss the document package and arrange for its signing and notarization all at no charge to you. You can do this in the convenience of your own home.
5
genex contacts insurance company
Once the document package has been returned, Genex will contact your insurance company to start the transfer process, this typically takes 2-4 weeks to complete.
6
receive your money
Genex Capital commits to funding its clients within 5 business days following receipt of all necessary documents. Genex Capital funds by wire transfer of immediately available funds directly to your bank account. There is no hold period and you can use the funds immediately. The monies you receive may not be tax free and you may need to declare the transaction on your next income tax return. You should consult your tax advisor.