Though you’ve been fortunate enough to obtain a structured settlement or an annuity, often times the installments are small and dragged out over the years. There are many reasons so many consider receiving a lump sum instead of waiting for meager payments to trickle in: you may want to put a down payment on a new home, pay off medical bills, or enroll in school. No matter what your reasons are, you have the option of selling a portion of your structured settlement to get a lump sum up front.
Who Should I Consider to Buy My Structured Settlement Payments?
You’ve certainly seen TV and online advertisements offering to buy your structured settlement, but how do you know which one to do business with? It’s important to remember your settlement buyer will be your partner for the next three months while all of the legal processes in cashing in annuities are sorted out. The best company to choose is one that will provide a win-win situation for both you and them. Pick a firm that offers the most competitive rates, are easy to work with, and looks out for your best interest.
The Dos and Don’ts of Selling Your Structured Settlement
Choosing which company to partner with when selling your structured settlement involves performing due diligence and lots of careful considerations. Follow the list of dos and don’ts below to get the most out of selling your structured settlement:
- DO your research on the transaction process and state laws. Take the time to learn what to expect when you work with a company to buy your structured settlement. Determine how to operate in accordance with your state’s laws. Understanding how to conduct a sale will help ensure everything goes as smoothly as possible.
- DO your research on the companies you are considering. The only way to determine which firm to go with is to learn about what each one has to offer. When it comes to selling a structured settlement, each person’s needs are unique. Take your time determining which organization offers the best plan to fit your situation.
- DON’T take everything representatives say at face value. Some agents will tell you what you want to hear, then can’t deliver. If the offer sounds too good to be true, it probably is. Check company reviews and read testimonials to help decide which firms are reputable and which ones have a hard time delivering on their promises.
- DO ask questions. Any reputable firm that buys structured settlements will have customer service agents available to answer any questions you have. Use these agents as a resource for all the research you are doing.
- DON’T settle on the funding company just because you’ve seen their ads on TV or online. Larger companies may have the money to sink into advertising, but that doesn’t mean there aren’t better options out there. Perform online searches. Ask friends and family for recommendations. Exhaust all your resources instead of choosing the first name that comes to you.
- DO take an active role facilitating your structured settlement transaction. Provide the funding company with all the documents they need in a timely fashion. The faster you hand over the necessary information to complete the transaction, the faster you will receive your payout.
Selecting the Right Buyer
The road to obtaining a lump sum from your structured settlement doesn’t have to be a bumpy one. At RSL Funding, we are prepared to be with you every step of the way. Unlike many of our competitors that could sell your settlement or annuity to a third party, we handle your payout from start to finish. RSL Funding is committed to offering the best options for buying your structured settlement or annuity by providing outstanding service to those who put their trust in us.
