I don’t know much about structured settlements myself, but the folks at J.G. Wentworth were kind enough to offer this guest post with tips on choosing a structured settlement company. If you’ve won a cash award that is being paid out in installments, you can use a structured settlement to get a lump sum now.
Choosing a structured settlement company can be a daunting task. Many so-called settlement buyers are sub-par financial services out to land a piece of your inheritance. Use these quick and easy steps when searching for reputable structured settlement companies.
Look at the structured settlement company’s payment history. J.G. Wentworth, for example, has paid $4 billion in lump-sum future payments to customers. They also have the most experience purchasing structured settlements from consumers, using a customized system to meet the customer’s needs. Lastly, their customer base is much larger than any competitor – so look for these trademarks.
Consider only structured settlement companies that do a high volume of sales. There are two good reasons for choosing a company used to handling a large volume of settlement payouts. First, these types of structured settlement payment companies can offer the most competitive quotes. Secondly, having this kind of experience means a customer can get their funding faster.
Find out if the structured settlement company has your best interest in mind. A major characteristic of a fly-by-night structured settlement company, who wants to purchase your settlement, is one that tries to “lowball” or “hard sell” a potential customer. Financial professionals at an established structured settlement company put the seller’s needs first, by figuring out exactly what monetary sum is needed and how to use it to your advantage.
Make sure the structured settlement company timelines your payout date. Structured settlement companies that make big promises about getting your payout in only a few days, are the ones you should be cautious of. A reputable company begins by walking a seller through the process explaining very honestly when the settlement can be liquidated into cash.
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What is the most common reason for a structured settlement?
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