Structured settlements are a popular way to resolve personal injury claims, lottery payments, insurance claims and other situations where one party must pay another. Structured settlements are used to benefit both parties involved in the settlement, the paying party doesn’t have to come up with a large sum of money right away, and the receiving party can rely on a set level of income over the payment period. Sometimes the receiving party wants the money right away, when this happens they can sell their structured settlement payments.
Selling structured settlement payments for a lump sum can give people more freedom to use their money where they need it. The lump sum can be used to pay down debt, pay for education, purchase a car, buy or repair a house, invest for the future or anything else. To get the most value for selling your structured settlement you want to be sure to find the company that can give you the best deal.
A good number of companies that will buy your structured settlement quickly sell the payments to a bank. Effectively they are little more than brokers between you and the bank and make a profit from the sale of your structured settlement payments. Because they need to make money there is a good chance you will not get the best value for your structured settlement payments. To find the best value it helps to cut out these brokers and work directly with a bank.
Working with a bank helps you feel confident that you are getting a fair deal for selling your structured settlement payments. When you work with a bank you know that the bank has a reputation to protect. It is unlikely that they will try to scam you because it could cost them investors. With this peace of mind you can be more confident that you are likely getting a good deal.
When selling your structured settlement payments for a lump sum you should know who you are working with. Finding the best value is important and the best chance you have to find the best value is to work directly with a bank.
