In this series, Five Important Steps Before You Sell Your Structured Settlement, we have been discussing the importance of arming yourself with all the facts before you consult any company to sell all or part of a structured settlement. Chances are, if you are a recipient of a structured settlement, you may have already been approached to sell your future payments. If you are considering this as an option, you must understand that companies that purchase structured settlements are in business to make a profit. As such, the less amount of money you accept, the more profit they make. When considering selling all or a portion of your future payments, it is in your best interest to seek offers from multiple companies. This approach will help guarantee you receive the best offers and obtain the highest payoff. You will also want to ensure that the companies you are considering are established, well funded and reputable.
There are many reputable companies in business to purchase structured settlements, however, as in any business, some exists that are less than reliable and some that are nothing more than unscrupulous. Take the time to thoroughly check out companies for consideration. You can consult the Better Business Bureau for complaints or even do a search on the internet for complaints against certain companies. It is of the utmost importance to remember that the highest bidder may not be the best. Some companies will make a high offer in order to entice you to sign a contract only to discover after the fact that there are “hidden” costs and fees that result in much less than anticipated. Remember that not all companies are created equal and this is a “seller beware market”. Seeking the best offer should not only be tied to the best price. There are several factors that must be taken into consideration before deciding which company will provide the best offer to meet your short term goals while ensuring your long term goals are accounted for as well. In general, seek a company that will work closely with you to review your needs and customize a plan to meet your needs while offering you the maximum benefit possible.
Finally, if you have been reading this series, Five Important Steps Before You Sell Your Structured Settlement and you have made the decision to sell all or a portion of your structured settlement, then I urge you to seek the best offer by allowing the most well established companies to compete for your business. Once you have selected the top offers, it would be prudent to have your attorney and financial planner review each one to ensure your best interests are being served.
If you need help selling your structured settlement, annuity or lottery payments,
contact us today. We are here to answer your questions and help you obtain the
highest possible price for your payments.
