Accounts Receivable Factoring

Structured Settlement Companies that Buy Your Policy

Before you go looking for structured settlement companies to sell your policy to, perhaps you should take time to consider what such a deal will really mean.

Obviously, you must have a pressing need for cash right away, otherwise you wouldn’t be considering such a move, but take time to think it through.

Once you sell your structured settlement policy, you won’t be able to get it back, and with its sale you lose that future security that you previously may have taken for granted.

Still want to go ahead and sell your structured settlement payments? If so, then you need to make sure you find the buyer who is going to give you the best deal on your policy.

What structured settlement companies will buy my policy?

The types of companies that buy structured settlements go by many different names, so if you are searching for a buyer online, you can try searching for the following terms: settlement buyers, annuity buyers, settlement purchasers, settlement investors etc.

All kinds of people actually buy these kinds of policies, including small companies and groups of investors, although the most likely players will be the large corporations.

But make sure you take your time searching, as you will be surprised at the number of buyers willing to give you lump sum for your structured settlement annuities.

Finding a good buyer

It’s not always easy to find a good structured settlement purchaser, but it can be done so long as you know what to look for.

Make sure they are reliable, which means checking to see if they have a good track record and sound legal structure. Get references from the company who you can contact and talk to about their first hand experience.

Especially important if you can find it out, is the company’s success rate as far as court approvals go – don’t forget that it’s necessary to have a judge agree that your circumstances warrant the sale of your annuity.

Obtaining quotes from structured settlement companies

Obtaining quotes is very easy if you search for them online. Many annuity buyers will have tools on their website for you to calculate how much you can expect to receive.

Simply enter in the amount you regularly receive, dates etc, and they will reply to you by email telling you how much you can expect to make from selling your annuities.

Alternatively, you can just make shortlist of potential buyers and give them a call the old fashioned way. I can help you with this if you'd like.

Can you trust the quotes?

Any quote you receive is taken as a guarantee – the structured settlement company is legally held to their quoted price, so they cannot short change you later on.

Take note that many firms will only offer quotes for 48 hours, after which they will expire.

Going to court

You and the structured settlement purchaser will need to attend court in order to make the sale of your structured settlement legally binding.

Such transactions are not always easy because structured settlements have protection laws guarding them, and this means you need to meet certain requirements before you can sell to structured settlement companies.

The judge will investigate your financial circumstances and decide whether or not to accept the deal.

He will weigh up your need for the cash versus the loss of your future financial security before coming to a decision.

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