Selling a structured settlement can be a complicated process, but it’s well worth the effort. If you’re looking for a way to get cash quickly, selling your structured settlement is the best option. In this article, we will discuss the process of selling a structured settlement and provide you with all the information you need to make an informed decision.
What is a structured settlement?
A structured settlement is a financial arrangement that awards an injured party (the claimant) with yearly, monthly or even weekly payments over a certain period of time. These settlements come out of court and involve the defendant making ongoing payments to the claimant over time as compensation for their injury. Rather than receiving all of the money at once, the claimant receives their settlement in intervals. This is done to protect them from losing all of their money in one large sum. It also protects the defendant in case they are sued by another party for the same injury they caused the original claimant.
Why sell a structured settlement?
There are many valid reasons why you may want to sell your structured settlement. Perhaps you need the money for medical expenses or a new home, or maybe you just want some extra cash on hand. If life has taken an unexpected turn and you’re in need of quick cash today, selling your structured settlement is the smartest decision you can make.
Selling your structured settlement can also provide you with a number of other benefits. Perhaps the best reason to sell a structured settlement is that you’ll never have to worry about making monthly payments or receiving those pesky letters from your creditors ever again. With cash deposited directly into your bank account, you’re free from financial worries and can enjoy the freedom many pursue through selling their structured settlement for cash.
Why you should use a settlement buyer
There are many reasons why selling your structured settlement is best handled through a professional company. Not only have they been in the business for years, but businesses who specialize in buying structured settlements know what to look for and how much money to offer. This means you’ll receive a fair price for your settlement.
When you sell your settlement on your own, you run the risk of losing money because not only are you unlikely to know how much to ask for, but there is also a chance that your contract prohibits you from selling it. This means any payments that are made directly to you would be considered an early withdrawal and could come with hefty fees.
What to do next
If you have made the decision to sell your structured settlement, it’s time to start looking for a buyer. You’ve come to the right place. We’ve put together a list of things you should look for in a good settlement company so that you can rest assured you’ll receive not only a fair price for your settlement but outstanding customer service.
Price: You should always start with the price. The best companies will offer you a fair price based on current market value. When working with a settlement company, you don’t need to know what the going rate is because they’ve already done this for you. They will look at factors such as the number of payments made, your life expectancy, and current medical records to ensure you receive a fair price for your settlement.
You should always start with the price. The best companies will offer you a fair price based on current market value. When working with a settlement company, you don’t need to know what the going rate is because they’ve already done this for you. They will look at factors such as the number of payments made, your life expectancy, and current medical records to ensure you receive a fair price for your settlement. Fees: Many companies charge some type of fee when buying out your structured settlement. The best companies don’t charge any fees upfront or during the process, but some do. You’ll want to find out how the company handles fees and ask whether you will be charged at all, or what specific fee they charge if any.