2018.10.25 13:52 | Sean Carter
Are you thinking about selling your structured settlement payments? If you received a structured settlement payment package due to a personal injury settlement or because you received casino winnings, you will need to consider when or if it makes sense to sell your structured settlement payments. We wanted to take a second and discuss some of the most common questions we hear from people who are considering selling their annuity or structured settlement payments?
Does My Scenario Make Sense for Selling a Structured Settlement?
You should know that you’re not going to get the full value of your structured settlement payments when you sell your annuity or structured settlement payments for immediate cash. The trade-off is that you’re going to get cash now. You should sell your structured settlement if you need the money now. That means you need it to cover high-interest debt, you need to pay off medical bills, you have a good investment opportunity ahead of you where it makes sense to get less money for your payments, or you are paying for college to improve your career prospects later on. If you don’t actually need the cash, you shouldn’t sell your structured settlement.
How Can I Find a Good Buyer?
Like any other buying market, there are good buyers and there are bad ones. You should enlist the services of a quotes provider that only works with factoring companies and independent buyers who have been vetted and have shown that they are not going to short change sellers or not be completely transparent through the process. You should ask those who have sold their structured settlements in the past on their opinion or speak with your accountant to see if they can provide you with a referral.
Is It Legal to Sell My Structured Settlement?
In general, you will have to go in front of a judge if you are thinking about selling your structured settlement payments. Remember, the structured settlement was established to ensure you wouldn’t lose your money quickly or get cheated out of what you deserve. A reputable company will work with you on the legal side to ensure you can sell your structured settlement payments legally. Keep this in mind as you choose among the many buyers who will want to buy your annuity or structured settlement payments.