Annuitants Can Sell a Structured Settlement Future Payment, but Know These Seven Tips First!

You can sell a structured settlement future payment, but you should be informed first. Today’s media seems to allow everyone anywhere to advertise anything, and this includes predatory companies who advertise in an effort to purchase people’s structured settlements. Sure, almost anyone can sell a structured settlement future payment, but it is not always the best idea. Whether you have a structured settlement that you are considering selling, or you have clients who regularly ask you about selling their settlements, there are some things you need to know.
Four Things to Know before You Sell Your Own Structured Settlement

If you are receiving structured settlement payments as the result of an injury or other settlement you might have seen advertisements by other companies on the television telling you that it is your money and you should sell your structured settlement future payment for a lump sum of cash now. Well, this is not always the case. Before you sell your payments, understand the following things:

  1. A structured settlement is designed to provide you with security; you should only sell your settlement if it will improve your financial situation, now and later.
  2. Approval of your sale is not guaranteed; a court judge must approve your sale, and he or she will want to know why you need cash now.
  3. It is possible to sell only part of your settlement payments; do not let anyone tell you otherwise.
  4. It is imperative that you work with an honest, reputable purchaser, like Strategic Capital, who will give you a fair rate and good options.

Three Things to Know when Your Clients Ask You about Selling their Structured Settlements

  1. A structured settlement may have been designed to provide security for your clients, but sometimes their life changes, and along with that their financial needs change as well.
  2. Some clients are going to sell no matter what, but if you are informed then you can send them somewhere that you know will give them good advice.
  3. At Strategic Capital, we work with customers to make sure they think about how they will still be able to meet their future needs (rent, food, transportation) if they sell their settlement payments now. In fact, we encourage them to sell only as much of their payments as they must to meet their cash needs.

Making the Best Decisions

Knowing how selling one’s structured settlement future payment will impact the future as well as the current situation is very important. At Strategic Capital, we help our clients consider both current situations and future needs.

There are many ways that we help our clients make the most of their unique situation. First, we take the time to better understand client needs with our client-focused process. Then, we work with the client to discuss his current life situation, we discuss his change in circumstances, we discuss his current financial needs and we talk about his expected future financial obligations. We also help him to consider other ways that they might access the cash they need, or whether selling only part of their settlement will be sufficient.

A structured settlement future payment is an important part of your tomorrows. Deciding to take some out earlier than planned is a serious decision. Strategic Capital has helped many people review their options to balance future obligations with their current needs.

Published : June 9, 2013

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