Do you wonder, “Who can buy my structured settlement?” Are you worried about paying a huge amount of money while selling off your structured settlements? If you answered yes, you need not worry as no trustworthy company will charge you any kind of advance fees before you begin the process of selling off your settlements. Strategic Capital will not charge you a dime! Still concerned and wonder, “Who should I go to, to buy my structured settlement?” Well, read more about what fees to look out for during such a transaction with less reputable companies.
Selling your structured settlement is a business transaction. In essence, what that means is that when you wonder who should buy my structured settlement it means that you have an asset, a structured settlement consisting of future payments, and that you are going to sell that asset to a company that buys such assets. The company incurs costs, essentially, the cost of doing business. These costs include court filing fees, lawyer fees, and so on. Therefore, some companies will include fees in your transaction in order to process the purchase and cover their costs.
Once you agree to sell your settlement payments, any legal and processing fees will all need to be disclosed. A reputable company will not only put these fees in writing for you, but a trusted representative from the company will explain the fees to you verbally as well; even better, they won’t charge you any fees at all, which is how we do things at Strategic Capital. Once you know of any fees, as with any contract, you will have time think it over or to consult with any third party, if you desire.
Don’t just ask, “Who will buy my structured settlement?” Ask how much. Note that if there are associated fees they should not be charged to you up front, rather, they should be deducted from the amount that you are selling off. Of course, when you work with Strategic Capital there are no fees at all!
Beware of Unsavory Characters
Bad businessmen lurk everywhere and it is essential that you weed out the bad from the good when determining who to sell your structured settlements to. If any company offers to put a deal together for you but charges you a fee to begin the process, steer clear. Qualified, well-funded, and trustworthy companies will have enough resources to process your transaction without advanced fees.
Now you might wonder about Uncle Sam: Will the US government want a cut in the transaction? In other words, do you have to pay taxes on this sale when I let someone buy my structured settlement? First and foremost, the smartest thing you can do when it comes to taxes is to ask a Certified Professional Accountant or trusted tax advisor. Generally, the government has established considerations to exempt damages due to personal physical injuries or sickness from taxable income, as specified in U.S. Code, Title 26, Subtitle A, Chapter 1, Subchapter B, Part III, Section 104-1. Once again, it is important to consult a tax expert to ensure that this code applies in your situation.
Do Your Due Diligence
After getting all of the information you need to let someone buy my structured settlement, it is your turn to look out for your own best interests. Perhaps the most important thing for you to do before deciding to keep or sell your structured settlement is to consider the purpose of the sale. Will the sale of your settlement benefit you, not only now but in the future? A structured settlement is a promise for future money. Consider if the sale will help to pay off a debt or help increase your earnings that will grow much faster than the settlement. Maybe it will put you in a better situation now and in the future. Determine if it will enable you to repay your debts and lead a tension-free life in the long run.
The potential to sell your structured settlement without advanced costs is something to consider. To get the whole picture, talk to an advisor at Strategic Capital today.