We all fall on hard financial times at some point or another. Even billionaire Donald Trump has lost money and has had to rebuild his finances, over and over again. Maybe this is one of those times for you, when there just doesn’t seem to be enough money to go around, and you need to rework your finances to come out better on the other side. When that happens, you may want to sell structured settlements to get the cash you need today.
If you received a structured settlement for some past injury or lawsuit, you may find that receiving those small monthly payments just isn’t fitting your financial needs. Maybe you should get a lump sum instead. But first, you need to know the best way to find the right buyer for your structured settlements.
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Following are the most important points that you should think about as you consider selling your payments:
- Get referrals. If anyone you know has ever had to sell structured settlements, ask them who they sold to and how they felt about that company. First-hand experience is one of the best ways to get good information. You can also ask for referrals from an accountant or lawyer.
- Get a second opinion. Always contact at least two buyers. If one buyer pressures you to make a decision now or offers to give you a better price if you rush, then they are not being ethical and honest with you. A good company wants to help you, knows they are giving you a fair deal, and will not be intimidated if you want to seek a second opinion or a second offer.
- Look at more than just the money. Of course, the rate you receive in payment for your settlement is very important. But you also want to consider customer service. Choose a company that provides a fair rate, but also is being ethical, treating you well, working fast, taking as much of the pressure and stress off your shoulders and possible, and helping you to feel good about your situation and optimistic about the future.
- Ask questions. Do not be afraid to ask questions. If a company rushes you, tries to get around your questions without answering them, or is dishonest with you in any way then run, fast, and find someone else to work with. You want a company who is respectful, who values you as a customer, who provides you with ample information without you even having to ask, and who answers all your questions clearly, honestly and effectively.
- Do your part. Remember that before a company can give you an honest quote of what they can pay for your settlement payments, you need to get them all of the information that they request. This may include a copy of your original settlement paperwork, a recent statement and more. Respond to their requests for information quickly and thoroughly so that they can serve you best and you will be able to make an honest, accurate decision about whether to sell or not.
As you think about whether to sell structured settlements, remember to think about the future. Structured settlement payments offer you stability and a steady future income stream. This can be really important. You do not want to sacrifice your future to get something today. But, when you have a really valid reason for needing to sell your payments you should not be embarrassed or afraid. The money—the settlement—is there to serve you. If you need to sell structured settlements for a lump sum now, and this is what is best for your family and business now and into the future, then you should feel good about taking the financial responsibility and doing what needs to be done.
Author: Strategic Capital is committed to superior customer service in the secondary structured settlement market. Our experienced and knowledgeable experts understand the value of structured settlement payment arrangements and we always perform in the best interests of our clients.
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