News and Tips on structured settlement transfers.

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Checking out Structured Settlement Buyers

You’ve decided to sell all or part of your structured settlement, and – good for you – you’ve used a site like QuoteMeAPrice to compare offers among buyers.  But that’s not enough.  You need to check the buyers who’ve made offers on your structured settlement to see who might be best for you.

The simplest way to check a structured settlement buyer is to do a quick Internet search for this company.  Does the company have a website?  Is there contact information listed?  Is the website professional-looking, or does it appear to have been hastily thrown together?  Is there information available about this company at all?  If there’s nothing to be found, it may mean simply that the company is a start-up without much supporting framework.  But it could also spell trouble.

An Internet search isn’t enough, though.  It’s easy to create an official-looking website, and easy to trash another company online.  So, your next stop should be the Better Business Bureau.  You can check the prospective bidders for your structured settlement to see if there are any complaints against them.  If there are complaints, how many?  How serious are they?  Most structured settlement buyers will have at least a few complaints filed against them, so the substance of the complaints, not the mere number, is what’s important.

What exactly are other people saying about this buyer?  The most common complaints against structured settlement buyers are that the buyer did not come through with the offer that was initially made, and that the closing of the transaction took longer than promised.

To prevent getting a deal that differs from the original offer, get the contracts in writing and look them over thoroughly.  Most states will require you to get legal advice, so have your lawyer look at the contract, too.  Make sure they buyer isn’t getting any “wiggle room” to lower the lump sum price for your structured settlement at will. 

Another complaint is that structured settlement companies took too long to complete the transaction.  No matter what a buyer promises you, this process will always take 45-60 days, perhaps longer, depending on your state.  Don’t believe a buyer who promises a faster turnaround.  Also, beware that many buyers, after the process has already started, may change his mind and rescind his offer.  This usually means the buyer has found a better deal elsewhere, and has decided not to negotiate further with you.  If this happens, you’ll have to start over again, but this is probably a good thing.

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.

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