Your 10-Minute Guide to Structured Settlement Buyers
Are you interested in selling your structured settlement? Do you want the cash quickly? What resources are available to make this happen?
In order to sell a structured settlement, there needs to be a buyer. Keep reading to learn more about structured settlement buyers
Look at Finances
How much money do you need right now?
Knowing this will help you determine if you will be selling portions of your structured settlement or the entire amount. For example, if you need $3,000 today and your structured settlement is worth $70,000, you won’t sell off the whole settlement.
Depending on the buyer, you may have to sell your entire structured settlement instead of a portion of it. This is an important question to ask when you are evaluating which purchasing companies you would like to work with and find out the benefits of selling with them.
You should calculate if the money that you are losing to the broker’s discount rate will be worth it to have the cash on hand. Searching around to see who has the best rate is the next step.
Search for Structured Settlement Buyers
Once you figure out the amount of cash that you need from your structured settlement, the next step is fo you to find a buyer that will pay you that amount.
Reading reviews and comparing different companies is a good idea in this situation because you want to make sure you are getting the best buyer for this transaction.
When you are searching for the best structured settlement companies, you should look for a company that has been around for a while and has a proven track record of a quick turnaround. Companies may promise to get you the cash quickly, so you should be specific in your expectations of how the process will go.
Advance & Appear
In order to get the cash quickly, you will need to request an advance on the money. Depending on if you sell your entire structured settlement or not will determine if there is a lump sum payment to follow.
If you don’t request an advance, it could take a longer period of time to get your cash.
In order to get the sale approved, you must appear before a judge. Most states require a court hearing in order for this to go through. They will look at your case and decide if the sale makes sense for everyone involved.
If you have people in your household that are dependent on you, they will be factored into the decision. Getting the cash to benefit them should not be an issue with approval because it is made with their well-being in mind.
Get Started Today
Now that you know all about structured settlement buyers, you can sell your structured settlement today! Follow the steps to evaluate your situation and get the cash you need. Check out our blog for more informational articles like this one.