Weighing the Factors When Picking a Structured Settlement Buyer
Presumably the proper discussion to have when you first start out the process of getting a structured settlement buyout is “what is important to me”. Its a critical step in the process of getting your mind around what to focus on. You will be surprised how important different aspects of the transaction are to different people.
Convenience: Believe it or not, there are some consumers that put convenience as the single most important element when you sell a structured settlement for a lump sum. This especially comes into play when they have previously sold a structured settlement before. Just recently we heard from a woman who was about to sign a contract to sell structured settlement payments in Maryland to JG Wentworth because according to her “they have my documents and therefore they can make the transaction easier for me”. While there is some truth to that statement, the real question is how much money are you going to give up if you do not shop around your structured annuity payments. The answer may be nothing or the answer may be a substantial amount. Convenience definitely matters, the question is how much?
Cash Advances: Some people that are in the need to get cash for a structured settlement, need to access money very quickly and the court process by its very nature takes some period of time. The amount of time varies by states, sophistication of the structured settlement buyer, and ultimately the court’s calendar. Cash advances are often available to bridge the period between initial contract signing and ultimate funding. When, how much, and transmission of the structured settlement cash advance is something you should discuss with the settlement buyer before you sign a contract. Getting a cash advance is definitely an important factor but is it the single most important one, are you willing to take a reduced lump sum for a cash advance?
Experience: One could go back and forth on how much the experience of a structured settlement buyer ultimately matters. We think it matters a lot and can impact the speed, efficiency and other elements of a transaction. Some people might suggest that it is one of the most important factors when selling a structured settlement. Does going with an experienced structured settlement buyer mean you get less cash? Less personalized service? Your file gets less attention?
Contact us at CSF, Let Us Show You Why We are the Best Structured Settlement Buyer