If you’ve decided to sell your structured settlement, then you’ve learned that your state has a process for making sure the sale is approved by a court and is in your best interest. But how do you really know if you’re doing the right thing?
Most states require you to get legal advice, at a minimum. Some states also require that you get financial advice. Even if your state doesn’t require either of these things, you really should consider them both. A good lawyer and/or financial advisor can take an impartial look at the structured settlement sales deal and let you know if you’re doing the right thing.
Whichever you choose, make sure that the lawyer and/or financial advisor you choose is someone you found on your own. Many complaints against structured settlement buyers allege that the buyers steered sellers to a “preferred” or “recommended” provider of legal or financial advice. Unfortunately, in these scenarios, the lawyer or financial advisor is partial to the seller, and can’t be trusted to give you independent advice.
Check the regulatory agency for lawyers in your state. You’ll be able to see lawyers in your area and the practices where they specialize. You want a lawyer familiar with financial law, bankruptcy law, or structured settlement factoring transactions. It’s the same with financial advisors. A good FA might present options for your financial woes that you never considered before.
Regardless of whom you choose to work with, you are your own best advocate. Do an internet search to find the structured settlement factoring law for your state. Download that law and read it. Become familiar with its provisions. You may find that it requires the structured settlement buyer to pay fees for which he is trying to charge you; if so, fight back. If there’s anything in the statute that you don’t understand, don’t be afraid to ask questions.
The buyer of your structured settlement will make lots of money on your transaction, so you should carefully decide if selling is the right decision for you, and if the buyer you’ve chosen is giving you the best deal. The way to do that is through solid, independent advice.
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.
Tags: cash for structured settlement, sell payments, sell settlement, sell structured settlement, selling payments
