Structured Settlement F.A.Q. ? part 2

How do I know if I need to sell my structured settlement?

If you are facing an unexpected financial crisis and have no other choice to raise the cash you need to avert losing your home, paying medical bills or any other emergency, selling your structured settlement is a right option.

How does the marketplace work?

As an auction, different companies will bid on your note, lottery payment, annuity or structured settlement. You will earn the most cash possible. You don?t have the ?headache? of being called by many companies, and it saves you money. It?s also good for the buyer. They can go to one place and see many listings of annuities or structured settlements for sale. All the information they need to make a bid is there.

How can I be sure a structured settlement buying company is the right one for me?

A reputable company will have a Better Business Bureau record with satisfied clients. See if there are any complaints about a company on a Google search.

Will all companies give me the same amount?

No, absolutely! Few companies will give a very low quote to maximize their profit. Always get quotes from several places and don?t disclose the quotes from other companies. In this way, it will be clear which company is trying to help you and which one is looking out for itself. The more companies that know you are selling a structured settlement, the better price you will earn.

How do I know what the price should be?

There are calculators available that can get you an estimate of the value of your structured settlement or annuity.

How long will it take to earn my money?

A reputable company will guarantee you a closing date. If they mention an interest drag to delay the closing, you may find another company. Expect closing in 8 to 12 weeks.

What if it takes longer than 8 to 12 weeks?

In the closing guarantee you should add that any delays will award the per diem sum be paid to you at the time of closing. If they accept it will prove that the company is not delaying your case to make a profit.

Is there any government protection for the seller?

Most states have the Model State Structured Settlement Protection Act or something similar. This protection act requires a full disclosure of all the terms of the sale. This includes the discount rate, number of payments and any charges for breach of the agreement. You should insist that the buyer complies with the Act. Sometimes it may be required to have independent financial or legal advice.

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