When you are awarded a structured settlement it means that you are going to receive scheduled payments for a set period of time until the payment has been made in full. Having additional income in the future is helpful for saving money and being able to live a little bit above your means if you so choose. There are times, however, when circumstances change and you need an influx of cash now. In these times you can sell a structured settlement to a company or bank.
When you choose to sell your structured settlement for a cash payout there are a number of companies you can choose to work with. You are going to want to make sure that you get the best cash payment for your structured settlement so that you can cover the expenses that you have. Some companies that by structured settlements plan to sell the settlement to a bank to make a profit, leaving you with a smaller cash payment than they receive. To prevent this from happening you can work directly with a bank.
When you sell a structured settlement to a bank you can feel confident that you are getting a fair deal. Banks rarely seek to sell the settlement payments and can offer you a higher lump sum cash payment. Banks are also more established and can give you peace of mind that you are working with professionals.
A good example is AnFed Bank. AnFed Bank buys settlements and provides the seller with cash that they can use. They are an established bank that is a division of BofI Federal Bank. BofI Federal Bank is a publically traded company (NASDAQ: BOFI) which means that they have a responsibility to their shareholders to operate in professional manner. Working with a bank gives you confidence that you will not be tricked into accepting a low offer by companies who want to make a quick profit.
When you are in a position that you need to sell a structured settlement to get cash now find a bank that can help you through the process. You will feel more confident that you are getting a fair lump sum payment and know that you are working with industry professionals.
