Most people are not prepared for financial emergencies that suddenly pop up in their lives. If you are someone who has been enjoying structured settlement payments, you are fortunate because you can use this to bail yourself out in such emergencies. That is, if you are wise enough to locate a company who will buy the rights for your structured settlement. And, if you are wise enough to find the “right” buyer for your structured settlement payments. If you are interested in selling your settlement, follow these steps when on the hunt for the right buyer.
Step 1: Find out if you can sell your structured settlement payments:
It is only reasonable for the potential buyer to examine your structured settlement to determine whether he can exercise the right to collect the payments. Therefore, find out if you can transfer the rights to him. In most states this is a non-issue, however why waste your time if the sale isn’t a possibility for you? The company will compute its present value to see if he can make a profit from the payments should he be given the rights to receive them. Some companies are looking for more profit than others, so shop around.
Step 2: Don’t look for a buyer in just one place.
The quickest way to search for potential buyers is by using the internet. Look for the companies that offer the best deal in terms of rates and options. There may be local buyers near you so don’t overlook them. Also consider that a small buyer may sometimes give you a better deal because of their low overhead cost. Lawyers and Insurance brokers can also be of help in locating a reputable buyer.
Step 3: Get more than a single offer.
You cannot get the best offer if you only consider one buyer. And, considering that with only slightly more effort you could have a dozen different offers to look at- why not? With two or more buyers, you can get an idea of the real prevailing price. It is not only the price either. Their rates may vary because of the options that they offer. By considering all these factors, you can get the best amount for the options that you want to get.
Step 4: Play Private Investigator.
Get a list of the past and present clients of the buyer that you have chosen. Check with these clients about their experience with this buyer. Ask if the buyer was able to fulfill his promises to the clients and the quality of service they were given. Use this buyer’s history as your gauge if you will finalize the deal.
There are still other legal matters to consider with regards to selling structured settlement rights. But by following these steps, you will be able to find the right company to sell this settlement to. After this, it will be a matter of going to the legality of the sales.
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
