How Long Does It Take to Receive My Settlement Lump Sum?

Various factors influence the length of time it takes for you to receive a settlement lump sum from the buyer of your structured settlement. These include state laws and court system schedules as well as the time you need to review the documentation and the decision to go forward with the sale.

That being said, it typically takes between 30 and 45 days to receive a cash payout from a structured settlement buyer. However, it may take up to two months depending upon the circumstances.

One reason that the process may take longer is that the laws governing the sale and transfer of structured settlements vary from state to state. Most states require the review of all documentation by a third party, which can also add to the time it takes to receive a lump sum.

The court proceedings can also affect the timing of your lump sum payment. A hearing first needs to be scheduled, which can take up to 30 days. The assigned hearing date can be 20 days later. Sometimes there are multiple hearings, as there may be in complex cases or ones in which multiple parties are involved. More hearings add more time to the process of getting payment.

Most individual court hearings only take 15 to 20 minutes, during which you must explain to the judge that the structured settlement sale is in your best interest. However, the judge or other parties can object to the sale, which can also lengthen the process.

Once the court approves the transaction, the structured settlement buyer can deliver the settlement funding. How long does that take? It depends on the company involved. CBC will typically transfer your money to you within 48 to 72 hours after a written court approval is received.

This process for obtaining a lump sum does take time. While the process requires diligence and patience, it is important to remember that it is designed to protect your interests.