Three Tips You Can’t Go Without Reading While Selling Your Structured Settlement
Winning a structured settlement can be a great source of steady, regulated income over the next few decades. These settlements, which are typically awarded in life insurance payouts and employee lawsuits, allow you to get your compensation over time rather than all at once.
Yet financial situations change all the time, and what may have seemed like a sound source of income for the future might now be putting your finances in jeopardy, because you could be using that money to pay for your current unexpected financial obligations. If this is the case, don’t worry — you always have options. And one of the best options to help you avoid a financial crisis might just be to sell structured settlement payments in exchange for a lump sum.
Completely new to the idea of getting your structured settlement cash now? Here are three of the best tips that will help you get the best possible outcome when you sell your structured settlements:
Choose the right company
Before you sell your structured settlements to just any company, be sure to do your research. Speak to representatives from each prospective company to make sure they are knowledgeable and reputable. It’s also a good idea to read online reviews from sources like the Better Business Bureau to ensure you sell your structured settlement payments to the right company.
Read the fine print
This is an absolute must any time you take on a new financial endeavor. Never rush towards a close on your structured settlement sale, as there could be hidden requisites in your contract that will be an undesirable surprise later on. It’s not a bad idea to seek out legal assistance in these situations.
Book a court date
In many states, there are laws in place to protect consumers like you from selling their structured settlements arbitrarily. One stipulation of these laws is that you’ll likely need a judge’s approval before you can sell the rights to your structured settlement payments. Schedule a court date to finalize the process, and you’ll have your lump sum in no time.
Have any other tips, tricks or advice to share for selling a structured settlement? Feel free to share with us and your fellow readers by leaving a comment below!
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