A structured settlement is one of the most attractive, even ideal, long-term investments on the market. They are often guaranteed for multiple years (sometimes for life) and are tax-free. Structured settlements are commonly awarded to those involved in a personal injury lawsuit or a product liability claim.
Sometimes, however, a structured settlement is not as effective as it should be. This often happens in instances where some sort of financial stress (for example: medical bills, a large debt, a new investment) is eminent in the person’s life that is receiving the structured payments.
In instances like these, you have an option. You can sell your structured settlement for a one-time single payment. This large amount of money can then be used to get your financial life back under control.
But whom can you sell your structured settlement to?
Structured Settlement Companies
The primary way to sell your structured settlement is to contact a structured settlement company. These organizations specialize in buying structured settlements and paying a lump sum payment to the seller. Fortunately, there are dozens of these companies in each state, so finding one to sell to shouldn’t be a problem.
Choosing the Best Structured Settlement Company
While finding a company to sell your structured settlement to might be a walk in the park, finding a good company to deal with won’t be quite as easy. A good structured settlement company is one that is reliable and gives you the biggest return on your sale as possible.
Here are a few surefire ways to find the best structured settlement company for you:
- Reputation – It is essential to only deal with companies that have sterling reputations. Make sure that the one you choose is part of the Structured Settlement Brokers Association, a trade group focused on the industry. This group provides a Code of Ethics that all members must follow and polices its members so that nothing unscrupulous is going on.
- Reviews – Use the Internet to its fullest when looking to sell your structured settlement. Read reviews on each company you are interested in – there are literally dozens of reviews available – to weed out the ones that are less than stellar.
- Free Quote – Ask the structured settlement companies that you are interested in for a free quote. This will give you a solid estimate on the amount of money you will get from selling your structured settlement to them. Keep it in mind that this is not a final amount. It is merely a quote.
- Use Your Gut – Always take stock in your personal feelings when looking for a company to sell your structured settlement to. If you are uneasy about a particular company, it is best to look elsewhere. Your money is at play here and you want to get as much of it back as possible. You want to get what you deserve from selling your structured settlement.
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