Things to Avoid When You Sell Structured Settlements
When it is time to sell structured settlements, choosing a structured settlement buyer is not easy. All of them seem to promise the same thing: immediate cash. Looking past the sales pitch, you’ll find that not all buyers are equal. Here is a list of things to watch out for when choosing a structured settlement buyer.
Structured Settlement Buyers Who Promise Unrealistically Fast Results
Don’t be fooled by these empty promises when you sell structured settlements. The speed of the process is at the mercy of court approval that no one could expedite. The average time for court approval is 90 days, with some states being quicker (45 days at the very least); so beware of companies claiming that they can process your purchase in less time. The only thing that will speed up your processing is efficient, accurate preparation and application.
Structured Settlement Buyers Who Offer Poor Support
Avoid buyers who offer just the bare minimum support and information needed for the transaction. Choose the most helpful buyer you can find, the kind that provides good customer service with all aspects of the transaction. Going with a buyer who is willing to work closely with you prevents errors in your court petition – errors that will lead to the denial of your petition to sell structured settlements.
Inexperienced Settlement Buyers
Though they may have your best interests at heart, younger companies often do not have the sufficient experience to convert your structured settlement into the best deal you could hope for. It is still best to choose an industry leader with years of experience and a long list of satisfied clients under their belt.
Settlement Buyers Who Keep Information from You
Choose a structured settlement buyer who is transparent with their actions. Companies who believe that they are entitled to non-disclosure are probably trying to hide hidden fees whereas an honest buyer will be upfront with all costs and rates pertinent to your transaction to sell structured settlements.
After all is said and done, what you want is someone who is both ethical and dedicated to giving you a fair deal; professionals who are sincerely concerned with your best interests. Structured settlement factoring is an expensive transaction and financial last resort for someone with significant financial need. If you are unable to find an alternative, at least find a buyer worthy of your trust.
If you have questions, Woodbridge Investments can make sure you are making the right choices in finding the right broker to sell structured settlements. Fill out our Quick Form or comment below.