How to find a structured settlement buyer

by Rob Phillips, CPA

A structured settlement buyer exists for one core reason-to buy structured settlements from sellers who find installments unsuitable to their immediate needs. Therefore these two parties (the seller and the company) enter into an agreement where the structured settlement buyer pays the seller a lump sum and continues to receive the seller’s installments.

This transaction is always beneficial to both parties. The seller gets immediate cash, and the structured settlement buyer too waits for his/her profits.

Firms that purchase structured settlements or annuities from a buyer are called factoring companies or secondary market buyers. There are many such buyers in the market but they offer different terms.

In order to get the best structured settlement buyer, you will need to comb through most of them, comparing their prices, evaluating their pros and cons and finally landing on a structured settlement buyer that you feel is the best one for your investment.

Never display your despondency for lack of money when you are dealing with a structured settlement buyer. They will prey on that to rip you off. You must stay calm, resolute and exude confidence throughout the selling process.

If possible, get structured settlement quotes from them and go through it, negotiate where possible (it’s your hard-earned money) and if the structured settlement buyer can’t offer a good deal, walk yourself out.

Every structured settlement buyer must have a structured settlement calculator on their website. When you key in your assets, installment duration, and other information, the calculator will display for you a rough estimate of the lump sum you will receive.

If the deal looks good for you, you can make a call to the structured settlement buyer or visit their office. Again, learn the art of bargaining. There is always a possibility that the structured settlement buyer can adjust the figure and add you something on top.

How to find a structured settlement buyer

The easiest (and probably the best) way to get a structured settlement buyer is to browse online and check for the companies with a positive review from the Better Business Bureaus.

Steer clear from a structured settlement buyer with a low rating or those that appear to compel you to sell your annuity payment to them. A good cash for structured settlement payments buyer should find you the money you need as fast as possible.

To make the whole long story short, here are the points you can adhere to to narrow your choices down to a single structured settlement buyer. You should select a company that:

  • Provides the best offer for your structured settlement
  • Provides good customer care services
  • Presents many options including a cash advance
  • Recommends that you talk to a financial expert or a lawyer first
  • Carries out the whole process in a transparent manner
  • Show complete understanding of the existing laws by adhering to them
  • Have a positive customer care record
  • Provides you with a timeline date for when you will get money

Make sure you consider all these requirements in order to have an easier time selling your structured settlement.

Structured settlements refer to the money paid out in installments (annuities) over a number of months or years instead of a lump sum. Whether you want to buy a structured settlement or sell to a company, you need to do plenty of research before you make your move.

If you want to buy, then brace yourself as a lot of money, and online presence will be needed plus a few other things. For now, I’d like to turn the spotlight to the structured settlement buyer– mostly companies and learn how you, as the seller can benefit from dealing with them.

When a structured settlement buyer wants to purchase from you, it’s not out of generosity- they are in for the dollar. The lump sum they offer you is usually less than what they are going to make out of it.

This is why it is essential that you bargain for a better deal. You see, when buying a structured settlement, these companies go ahead and reinvest it through the best and modern options from where they profit. These profits help them to pay their employees and get advertisement and running costs covered.

There are certain things you need to know about the company that is going to buy your structured settlement. First, the company should be financially stable. You don’t want to sell your investment to a company that might go bankrupts sometime soon and fail to pay you your dues. The company should also not rely on loans from banks in order to sustain its business ventures.

A company with a good standing reputation, in general, is worth going for. Such firms rarely deal with intermediaries and rely on their own reserves to run their business. If a company has adequate reserves, you will be sure to get an attractive offer when they are buying a structured settlement.

How can you know the value of your structured settlement?

The value of your structured settlement, in the first place, depends on the company buying a structured settlement. The best company will work with you to come up with an arrangement that is suitable for you and your condition. They should lay out everything before you, including what might make you uncomfortable-provided it’s the truth. No one likes to seal a deal and realize there was a devil hidden in the details.

To know what your settlement is worth, most companies buying a structured settlement have a structured settlement calculator that displays a rough estimate of what your investment is worth. Other factors that determine what your structured settlement is worth include

  • Your upcoming lump sum payments
  • The number of unpaid payments
  • Increases in your proceeds over time
  • And many more

There are many companies interested in buying a structured settlement. The best thing to do is visit some of them, check out their offers and compare which one is the best to work with. Buying a structured settlement follows certain rules that are meant to protect both of your rights. Steer clear from a company that operates in a “freestyle” manner.

No matter the reason for selling your structured settlement, always work with the best companies buying a structured settlement.

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