Get a Structured Settlement Quote

Get a Structured Settlement Quote

What to expect – When Calling a Company to Purchase your Settlement – Part 1

If you have a settlement and are considering transferring your future payments for a lump sum one of the first steps is talk with a expert representative. When you call them you can expect the first call to be largely informational. The goal of a first call is to:

1. Determine your needs – any good representative will take the time to talk about your current situation and needs. You should provide as much information as you can about what you needs are both short and long terms so that the representative has as complete of a picture as possible so they can give you the options that will best meet your needs. One common mistake is for settlement sellers are not always forthright with information and the guard some of the facts of their financial situation and even the amount of their future payments. This will only lead to two problems. The first is the advice or guidance being provided is not actually in your “best” interest as they agent is working off incomplete information. The result of this often is one keeps their big picture financial stress to themselves and they end up doing a small lump sum that only meets their exact needs today but does not account for their remaining needs over the next few months. When this happens sellers will often have a need to do a second transaction to get another cash buyout. While it is nice to have this flexibility money and time could have been saved by completely discussing the entire needs and getting guidance based on that.

2. Provide options – the second item you will receive when discussing a settlement buyout is flexible options. As the seller you will be given choices based on real numbers provided by you to sell:

• All your payments – you can sell all of your future payment for one larger lump sum buyout transferring all payments to the factoring company for cash.


• Some payments in a partial buyout – sellers do have the option to sell only some payments and receive a smaller lump sum and keeping the remaining payments intact. This way they can get the cash they need today and still have some of their future payments.


• If one opts to sell on a some of their payments they should also be aware that they will always have the ability to do a second transaction at a later date if they wish. So if one is unsure of the best option it is good to know that you can do one small transaction today and if the need arises they can do another transaction in the future.