Structured Settlement Help
Sell Structured Settlements
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Sell Structured Settlements
Many people that are currently receiving a structured settlement are unaware that it is an option to sell your future payments for cash. This process is officially referred to as “transferring” your payments as you are transferring the recipient of your annuity payments to a buyer (called a factoring company) that will give you a lump sum payout in exchange.
Many people that are currently receiving a structured settlement are unaware that it is an option to sell your future payments for cash. This process is officially referred to as “transferring” your payments as you are transferring the recipient of your annuity payments to a buyer (called a factoring company) that will give you a lump sum payout in exchange.
You have options
When selling your payments you do have options. You do not have to sell all your payments at one time. In fact most sellers choose to sell only a portion of their future payments for cash and reserve their remaining payments. This way they are able to receive a lump sum now to meet their immediate needs and keep some of their future payments in tact. So they get a lump sum and keep some future payments. That is a flexible way to consider your options. You also have the ability to sell more payments in a second transaction if the need ever arises. However, if you are going to sell your payments you might consider carefully how much of a lump payment you need to meet your needs. It is in your best interests to try to cash in the “right” amount of money that you need for your financial situation. While it is possible to do a second transaction it is clearly easier, cheaper and faster to do it in one transaction than multiple ones. However, that is one of the great benefits of selling that you can decide what meets your needs and do what is in your best interest. Of course talk through your options carefully with a representative so you can make an informed decision (you can call the 800# on this website or submit a form if you wish to get professional guidance if you wish).
When selling your payments you do have options. You do not have to sell all your payments at one time. In fact most sellers choose to sell only a portion of their future payments for cash and reserve their remaining payments. This way they are able to receive a lump sum now to meet their immediate needs and keep some of their future payments in tact. So they get a lump sum and keep some future payments. That is a flexible way to consider your options. You also have the ability to sell more payments in a second transaction if the need ever arises. However, if you are going to sell your payments you might consider carefully how much of a lump payment you need to meet your needs. It is in your best interests to try to cash in the “right” amount of money that you need for your financial situation. While it is possible to do a second transaction it is clearly easier, cheaper and faster to do it in one transaction than multiple ones. However, that is one of the great benefits of selling that you can decide what meets your needs and do what is in your best interest. Of course talk through your options carefully with a representative so you can make an informed decision (you can call the 800# on this website or submit a form if you wish to get professional guidance if you wish).
So your options to sell structured settlement include:
1. Sell all of your payments for one lump sum
2. Sell just a portion of your future payments – get a smaller lump sum and retain some of your future payments
3. Sell in pieces / stages – you can take one lump sum now and if you need more cash at a future date you can do a second transaction to get another payout if the needs arises
When talking to a factoring company that will buy your payments for cash make sure to ask them a few important questions to ensure you working with a reputable company. One question you should discuss is how long they have been in business – this is always a good indication if they are a fly by night company or if they are someone new to the industry that would be more risky to entrust this important type of transaction. Another good indicator is how many states they can do transactions in. If they are a nationwide company it is more likely that it is a larger company and more likely to be financial stable versus a small local company that can only work in one or a few markets. This question is intended to help you to work with a company that is financial stable and will be in business years into the future.
Another question that is good to ask is if they are a “broker.” Sometimes a person can be a broker that only is the middleman of the transaction that marks up the fees. You want to work with a company that will be handling the transaction from start to finish so you can hold the accountable for the entire process.
Another question that is good to ask is if they are a “broker.” Sometimes a person can be a broker that only is the middleman of the transaction that marks up the fees. You want to work with a company that will be handling the transaction from start to finish so you can hold the accountable for the entire process.