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Getting Cash for Structured Settlement Payments


If you’re looking to get cash for structured settlement payments then it pays to learn a little more about the industry in general – particularly the kind of companies that are involved in buying structured settlement payments.

Types of structured settlement companies

There are two different types of companies that will buy structured settlements – those that will purchase your annuity outright and then collect the payments for themselves, and those that will buy your structured settlement through a broker before selling it on at a profit.

When you are trying to get cash for structured settlement payments, you should be wary of a company that uses a broker, as they will almost certainly charge greater fees than companies that deal with your directly, meaning you will probably get less money for your annuity.

One thing that makes the process trickier is that, although it would help you if you knew how the various companies that buy structured settlements operated, they have no legal obligation to tell you and so usually they will not. Therefore, the onus is on you to do the research first and search for the best deal by yourself.

Shopping around for a structured settlement buyer

Selling structured settlement money is a big decision, perhaps one of the biggest financial decisions you will ever make, so don’t take it lightly. Take your time and consider as many offers as it takes before you finally decide on a company to sell to.

Getting offers for your structured settlement annuity is easy enough as there are many companies around that buy them, but the challenge is in sorting through all of those offers and choosing the right one.

The best thing to do is to make a shortlist of three or four companies that are willing to give you cash for structured settlement payments and then compare them more closely.

Comparing them doesn’t just mean comparing the quotes of course – you should also research a little about each company to see what kind of feedback they have had from previous customers.

Once you have all your quotes, a nice little trick is to fax the best quote to the other companies and ask them if they can better that offer. Be careful to include all of the fees and various expenses before sending it though!

Doing this may well result in one or more of the other companies coming back to you with a better offer for your structured settlement payment. The idea is to essentially start a little bidding war between the companies you have selected.

If any of them do better the first offer you sent to them, you can fax this improved offer to the first company and see if they will come up with a counter offer.

By playing this little game, you will be able to get the best possible deal on your structured settlement annuity. You will be surprised how much a counter offer can differ from a company’s original offer, and you will be extremely grateful that you took the time to shop around.

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