News and Tips on structured settlement transfers.


Structured Settlement Sales – Understanding the Process

How does the sale of your structured settlement work?  Here’s a quick summary of what you can expect.

First, find a buyer.  You can use to get competing buyers to bid on your settlement.  You don’t have to sell your entire settlement; you can sell a portion or just a few of the payments you have coming to you. 

Check out the bids you get, paying attention to all the details.  You want the best lump sum, but watch out for any extra fees.  Do “due diligence” by checking out the reputations of the prospective buyers.  You can do this by going to the Better Business Bureau’s website and looking at what kinds of complaints, if any, have been submitted against the buyers.  If you see lots of complaints alleging that the companies changed the original deal, snuck in lots of fees, or didn’t pay the lump sum as promised, these should be red flags.  Also, beware any buyer who claims to be able to complete your structured settlement transaction in less than 45-60 days; all states have a legal process that must be followed, and it will take at least that long from start to finish.

Once you’ve picked a buyer, pay close attention to all of the contracts and paperwork you receive.  Look for any changes to the original offer, and check the fine print for additional fees.  If you don’t understand something, ask.  If the buyer doesn’t sufficiently answer your question, tells you not to worry about it, or starts pressuring you to sign, you should walk away.

Most states require structured settlement sellers to get legal and/or financial advice.  Make sure you find a lawyer who is independent – don’t take the buyer’s recommended experts or accept referrals from them – and who has handled structured settlement transactions before.  Specifically, the lawyer should evaluate whether the sale is in your best interest, and should make sure the buyer isn’t trying to pass on fees to you that state law says he has to pay.

The sale of your structured settlement will have to be approved by a judge, and you may even have to appear in court for this.  If the judge believes that the sale is not in your best interest, s/he can refuse to approve it, and you’ll have to start over again if you still want to sell.

Finally, you’ll have a “cooling off” period after the sale is approved before it is finalized.  This is your last chance to re-think the whole thing, and decide once and for all whether you truly want to sell.

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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