The Basics of Finding a Buyer for Your Structured Settlement

A structured settlement is a type of payment given to a person who has won a court case or perhaps an insurance settlement. If you successfully sued someone in civil court, the court will most likely award you a settlement amount. If the amount is particularly large, then you will be given a structured settlement. That means instead of getting a lump sum of money, you will end up with periodic payments in small amounts. So if you win, let’s say, $100,000, you might get yearly, quarterly or even monthly payments until that entire amount is settled.  While most people wouldn’t mind getting the money in small payments (indeed, such an arrangement has its merits), there are others who may benefit from a larger payment. Some people may have debts to pay immediately or perhaps they can invest in something, like rental property or a business, which can help them make more money in the future. In such a case, you might want to sell your settlement money. You can find many settlement buyers who would be willing to give you a lump sum (minus a fee) in exchange for your payments. If you are interested in such an arrangement, keep reading.

Tips for Finding Structured Settlement Buyers

There are many third parties and companies who buy structured settlements. You may have seen them advertise on TV, print, or even on radio. There are also some that get their clients through word of mouth. However, you should really choose based on the company’s individual reputation. You need to do research to make sure you find a reputable buyer. For example, check the Better Business Bureau website to see if other people have made any complaints against a particular company. Also, check the Attorney General’s office in your state to find out if they are investigating any companies for fraud. Online reviews and Google searching can also help you find red flags, but also good reviews. Also, don’t forget your attorney as they may have experience in helping their clients find settlement buyers.

Finding a Buyer

Choosing the Right Buyer

There are many third parties and companies who buy structured settlements. You may have seen them advertise on TV, print, or even on radio. There are also some that get their clients through word of mouth. However, you should really choose based on the company’s individual reputation. You need to do research to make sure you find a reputable buyer. For example, check the Better Business Bureau website to see if other people have made any complaints against a particular company. Also, check the Attorney General’s office in your state to find out if they are investigating any companies for fraud. Online reviews and Google searching can also help you find red flags, but also good reviews. Also, don’t forget your attorney as they may have experience in helping their clients find settlement buyers.

With so many structured settlement companies out there, you need to narrow down your choices significantly so you can make a good decision. After using the tips previously mentioned, you should be able to eliminate fraudulent companies, but also compile a list of good ones. Go through your shortlist and rank them according to certain factors. First is reputation. In such a case, no news isn’t exactly good news, so make sure you narrow down the choices to companies whose clients have written good experiences about them.

Next, rank them according to how much you get in the end. These companies will not give you the entire amount that you would have gotten if you waited for the money. After all, they are the ones taking the risk of the payer going bankrupt and not paying the rest of the settlement. However, many companies do offer reasonable fees and rates. Make sure you pick one that can offer you the most money. However, there are other considerations you might want to think about as well. For example, transaction time. If you desperately need money, then you need to make sure you go with a company who can offer you the money quickly. Some companies promise you days or even hours. If they can deliver in such a timely manner, then they might help you get out of peril.

Finally, another important consideration is customer service. You are, after all, paying them a large percentage or fee, so you should feel like you are being taken care of. Do they respond right away when you ask them questions? When you call them, do you have to go through a long process to get a human on the phone or do they answer right away? Do you feel like they are being genuine or at least very helpful and responsive. These things matter, not just for your ego but also for the impression they make on you as a company. You want to work with a company who wants to serve their customers, not just make money from them.

Questions to Ask Structured Settlement Buyers

When you are choosing a seller, there a few things you should ask them. This will help you find a good company as well as clarify any issues in the beginning before you get deep into the process:

1) How soon can I get my money?
This will help you get a good indication of timeline, so you know when you can expect the contract. The buyer should also be well-versed in your state’s law about any restrictions so you can be well informed of any timeline issues

2) How much will I receive?
Again, you want to know if it is even worth it to sell you settlement. You will be getting a smaller amount than if you waited, but the exact amount varies per company. There are a few factors that can contribute to the payment amount. Generally, the total amount, the payment timing, the type of payer, and the current economic environment are factors to consider.

3) Do I have to pay taxes on this transaction?
Tax rules change all the time and the settlement company should be well versed in the current tax regulations and codes in your state and federally. They should be able to answer this with certainty and confidence, though it never hurts to talk to a 3rd party accountant.

How Much Can I Get for My Structured Settlement?

How Much Can I Get for My Structured Settlement? 

The internet has a lot of great market place sites.  There are websites that are dedicated to the buying and selling of cars.  On these websites people display the cars they have in their inventory and set fixed amounts they are willing to sell their new or used automobiles for.  On these sites, a car buyer (someone in the market to purchase a vehicle) can look at the inventory of multiple vendors and decide what cars are have the type of equipment and are around the price they are willing to pay.  Similar sites exist for houses.

Speak to a Real Person that Can Answer Your Actual Questions: 800-317-3769

Speak to a Real Person that Can Answer Your Actual Questions: 800-317-3769

When you start the process of getting information regarding how much you can get for a structured settlement, you may be pleasantly surprised to see how many websites there are that are maintained by structured settlement buyers. These settlement annuity buyers exist for the simple purpose of providing you a lump sum in exchange for your structured settlement– whether that means selling the full structured settlement or simply converting part of it to cash now.  As a consumer, the best part of having multiple structured settlement buyers competing for your business is that you will be able to command a higher amount for your structured settlement- in most cases.

What do you need to know before selling a structured settlement?

Shopping Around for a Structured Settlement Buyer Can Get You Most Cash 800-317-3769

Shopping Around for a Structured Settlement Buyer Can Get You Most Cash
800-317-3769

1. Net v. Gross:  make sure you are talking about the same thing when you speak to a structured settlement buyer about how much they will get you for your structured settlement.  While some structured settlement buyers can be very clear and upfront about pricing- others may talk about “gross” purchase prices over the phone only for you to find out that their documents attempt to reduce the gross amount by fees and costs.

2.  Experience- has your structured settlement buyer worked in your state.  Have they worked with the particular type of structured settlement you are looking to cash out?  If so, can they walk you through the process and explain to what amount you can expect to receive in what time period in a way that makes sense and is believable to you?

In considering how much you can get for your structured settlement and what you want to do, you may want to consider not selling immediate structured settlement payments but instead getting offers for payments that start further out in time and that you are not relying on for your current day to day expenses.  With that said, it is up to you and only what structured settlement portion should be sold and what is in your best interest.

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My Life Contingent Structured Settlement Payments for Sale

My Life Contingent Structured Settlement Payments for Sale

It is interesting to know that many structured settlement arrangements contain what is know as life contingent structured annuity payments.  These are settlement payments that some familiar with them call “out of guaranteed period” annuity payments.  What some do not know is that they payments, even with the life contingent element, can be bought and sold.

Here is how it generally works, life contingent payments are valued based on when they are due and how old and healthy the seller is.  Can we buy life contingent structured settlement due in 2040 or 40 year out?  Sure.  But can we buy the payments if you are going to be 90 years old in 2040?  not very likely.

Buying Life Contingent Structured Annuity Payments

Buying Life Contingent Structured Annuity Payments

If you think about it the purchase and sale of life contingent payments is based on a simple question that is impossible to answer?  Is the person selling the life contingent structured settlement payments going to be alive when the payments come due.  A simple concept and question but impossible to answer.  That said, the more likely the answer is “yes” the life contingent structured payments seller will be alive, the more valuable or viable a transaction will be. Keep in mind that the buyer takes certain actions to mitigate the risk.

As with any structured settlement sale, immediate payments that are life contingent are generally considered more valuable than deferred out of guaranteed monthly payments.  For example, say you have $1000.00 per month of life contingent structured settlement payments from Transamerica or Metlife and those payments are due starting in 2019, the value of those monthly payments would be greater than if the payments became due in 2029 or 2039.  You may be familiar with this concept if you already sold guaranteed monthly income.  You may have received more cash for seller the first segment of the structured settlement (if those payments were due sooner) than if you sold the second part (if they were due later).

Catalina Structured Funding has helped people from across the country meet their economic needs by getting cash for structured annuity payments, including those in the life contingent phase.  We have acquired payments due out in 30, 40 and even 50 years (YES- 2060)- yes 5 decades from today- and in doing so have helped those looking to sell life contingent structured settlement payments that other companies simply refused to assist.  Call us, tell us what you would like to do and see our offers.  Trust us- its often thousands of dollars more than what you think you might get or have been offered.

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