Do you own structured settlement payments? If so, do you have any major expenditures in the very near future? Final question: do you have the money to pay them? There are times in our lives where life throws us a curveball.
You may need to get your home’s water heater replaced in time for a cold winter. Perhaps, you are thinking about going back to school to earn a degree for a new career path. Or you may suffer an illness that requires a hospital stay or significant outpatient care. In all of these instances, you’ll need money and quick. If you can’t afford it, selling your structured settlement payments might be in your best interest.
Each year, people all across the country sell their structured settlement payments for cash. When participants in a civil case settle, structured settlement payments are often awarded. Before the paperwork is signed, the two parties must agree to the terms. It’s usually very flexible at this point. Unfortunately, though, once the paperwork is signed, it’s very hard to change those terms. So when you need a large amount of money in a short amount of time, you’ll need to get creative. Selling your structured settlement payments to a third party factoring company is the easiest way to get cash quick. However, how do you choose?
There are so many structured settlement factoring companies out there, and like any industry, some are better than others. Even more importantly, there are some scam artists out there too who are looking to deceive you out of your money. Because of this, it’s important to do your research to figure out which is the best buyer of structured settlement payments for you. Here are several things to keep in mind:
• How long has the company been in business? If the factoring company does not have a long history of sales, they may not be the best company to you. Those who are experienced will have knowledge of the industry and will be best able to provide you with advice.
• Does the company have a large amount of sales? If so, it will be able to offer you competitive rates that others might not be able to.
• How open is the company with the payout process? If the company says you’ll get your money in a short amount of time but doesn’t specify how, be wary. A good structured settlement factoring company will be honest about the process and guide you through it.