You’d think that a structured settlement would alleviate your immediate need for cash, but that’s often not the case. Settlements are put into a structured payment format to protect you from yourself (from unwise spending and poor money management), but many times the need for cash is genuine and extreme. Perhaps you’ve accrued new medical bills because of the injuries you sustained. Maybe you need to make modifications to your home to provide better access and comfort due to being in a wheelchair now. Maybe you’ve lost too much pay from work to keep current with your bills. In all of these instances and many others, selling your structured settlement is a wise decision. How do you do that? Follow these tips.
Don’t Go It Alone
The first and most important tip is not to try this on your own. Selling your structured settlement is more complex than you might realize, and you’ll need expert help and guidance along the way. Make sure that you have that help. Work with a company dedicated to connecting structured settlement sellers with qualified buyers. Not that word, “qualified”. Not just any buyer will do. You need a reputable buyer that’s willing to take a lower discount on your settlement so you get more out of the sale.
Let Someone Else Do the Legwork
Finding qualified buyers is a lot of work. If you partner with a company dedicated to helping you find the best deal possible, you eliminate a ton of stress and hassle. Let someone else do all the legwork, ask all the important questions and create a list of potential buyers. With the right partner, you should only have to fill in a brief form and then wait for offers to come through from qualified buyers. Then, you only need to choose the buyer’s offer that best matches your needs.
As a note, make sure that the company you’re working with is accredited by the Better Business Bureau and offers full 128-bit encryption of their website. Anything less is just putting yourself at needless risk.
Is Your Need Genuine?
You will have to go back to court to sell your structured settlement. One of the first things the judge will look at is whether or not you actually have a financial need in your life that the sale of your settlement will benefit. If you are suffering financially, but that suffering is due to personal decisions or a lack of employment with no actual effort to find a job, you can bet the judge is going to block the sale and you’ll be stuck with your regular payments. Build the strongest case possible before you do anything.
If you follow these brief steps, you’ll find that you have an easier time of selling your structured settlement. While there is no way to guarantee that the judge will allow your sale, getting off on the right foot will make the process less stressful and certainly improve the chances of a beneficial ruling.