Counterpoints to Selling a Structured Settlement
Bumps in the road will happen through out life but one’s immediate response should not be to handle the unfortunate event by selling a structured settlement for a lump sum. You will be surprised how often an annuitant will consider this option exclusively before determining if other avenues exist to get cash. While this advice may seem strange coming from a structured settlement buyer, we are cautious to move forward with an individual that has not considered whether the transaction is in her or his best interest- a determination that a court will have to make as well as part of the process.
A few states require that before a person can sell a structured settlement for a lump sum, they must meet with a lawyer or other professional. One state even requires that the company proposing to buy a structured settlement for a lump sum pay for that professional if the customer elects to do so– the California Structured Settlement Act. Whether or not the law requires it, it is often a good idea to discuss your potential options with close advisers and maybe even elect to hire a professional- that said, if you are competent adult it is ultimately your decision whether to meet with a 3rd party (in states that do not require you meet with IPA or Independent Professional adviser) and whether moving forward with the transaction is in your best interest.
When you call us, we are not in a position to give legal, financial or tax advice
regarding the sale of the structured settlement. This is not our role and we are not here to provide you any such direction when you sell structured settlement. We are on the other side of the transaction. What we can do is give you fair and reasonable price if you decide to sell a structured settlement. There are a variety ways to account for getting an appropriate size lump sum when you are in the market- one of the best ways is to speak to multiple buyers of annuity payments. Simply by discussing your position and asking for the best offer to buy a structured settlement (or portion), you will being to learn what is involved and equally as important get a handle on the range you might receive. You may be surprised how large the range will be and how through a little shopping around how much cash for a structured settlement you can obtain.
Whether you are interested in a quote, explanation of the process, or just a little more information, please contact the folks at CSF at 800-317-3769.