How To: Find the Right Structured Settlement Buyer
If you have money tied up in a structured settlement, it can feel like a double-edged sword. Yes, you know you’ll get the money. But it also means waiting for the sums to be distributed over time. And if you have the need for cash now, that’s hard.
Whether you’re dealing with a big, unexpected expense or you know that some freed-up cash could help fund your dreams — like starting your own business or remodeling your home — you can turn to a structured settlement buyer. By selling some or all of your payments, you can release yourself from the waiting game you’re currently playing.
The trick, though, is that different structured settlement buyers function differently. They’re not all created equal, and finding the right company can mean the difference between a great experience and a financially triggered headache.
To help you pinpoint the right structured settlement buyer for your specific needs, there are certain features to watch for. Here are three things you can do.
Go by their reputation in the industry
Structured settlement buyers help people make relatively big financial decisions and important money moves. As a result, their clients usually have a lot to say about the experience of working with them. And you can leverage those reviews and testimonials, turning them into guidance toward your best option(s) — and away from potential disasters.
Don’t commit to a structured settlement buyer until you’ve done a little digging into them. Online reviews and word-of-mouth testimonials can go a long way here, but don’t stop there. You should also look at how the company is viewed by other people in the industry. You may also want to ask your settlement professional or your trial lawyer if there is a company that they would trust for you to work with.
Talk to them
You’ll learn a lot about a structured settlement buyer from a few minutes of conversation. Does it feel like you’re sitting down with an advisor, or do you feel like you’re across the table from a pushy salesman?
You should never feel pressured to agree to terms you don’t like or to sell more of your payments than you want. Before committing to a buyer, spend a little time with them to ensure they see you as an individual with unique needs, not just a revenue opportunity.
Choose a buyer that gives you options
You don’t have to give up your entire settlement structure to free up some of the cash tied up in it. And a good buyer will tell you that.
Most people benefit from choosing a company that explores their options with them, from not selling at all or selling only a handful of payments to selling their entire settlement, in order to find the best choice for them.
If you’re looking for personalized care from an industry-respected team, we’re here. To learn more about what it could look like to sell some or all of your structured settlement payments, contact our team at Strategic Capital today.
