You have a structured settlement and you have decided that you want to sell your structured settlement and get a lump sum payment. There could be many reasons for the cash needs. The needs could range from buying a house to having a medical expense that was not anticipated. Whatever the reason, you need to have a lump sum of cash!
So how do you decide where you should go to so that you can sell your structured insurance settlement and get a fair deal with it? What criteria will you use to evaluate the company?
Here are a few suggestions you want to consider in making your decision.
Talk to friends and family – One of the first and foremost things you should do is talk to people you trust and who have gone through the same type of thing. Because these are people that are close to you, they usually will have your best interest in mind.
Search online – If you don’t know of anyone who has gotten a structured insurance settlement and sold it, then you can do some research online about that structured insurance settlement company. You may be able to find people who have gone there and gave a review of their experience with the company.
The important thing is to do your homework and not rush to make a decision. Selling your structured insurance settlement is a big step and you want to get the best offer for your settlement. When you are well informed, you will be able to make the best decision that will be right for you. Do not be afraid to get second opinions and to look around to see what is available.
Questions To Ask Structured Settlement Company
As you are going through the process of evaluating companies, there are some key questions you want to make sure you ask. Getting the answers to these questions will help you in your decision making process. These questions will help you to make certain that the company you are selling your settlement to will do what is best in your interests.
1. What is the length of time the company has been in the business of purchasing structured insurance settlements?
2. Are you able to verify their business and contact information?
3. Do they have proof that they are insured and bonded?
4. What is their rating with the Better Business Bureau?
5. How will they be taking care of your particular kind of structured insurance settlement?
6. What is the number of structured settlements that they purchase annually?
7. What is their rate structure? What are their fees?
8. What is the company’s time frame for completing the transaction?
9. Is the structured settlement company operates as a broker or “go between” or are they the actual purchase of the settlement?
10. Will they keep your information private?
Something that you want to do before you make a decision on selling your structured settlement is to consult with a lawyer, or someone else that is professional and knowledgeable about financial decisions.