Highlights From Our NJAJ Q&A
Every month, the New Jersey Association for Justice (NJAJ) publishes a newsletter called In Brief. Their May publication featured a Q&A with our very own Max Worth. While we know Max’s insights were helpful for In Brief readers, we didn’t want to keep the key takeaways confined to a New Jersey audience. Here are some key things all law professionals should know, pulled straight from Max’s feature in the NJAJ newsletter.
We see ourselves as an extension of your customer service
Max emphasized the importance of law professionals having a trusted third-party service provider when any of their clients need support with selling structured settlements. By vetting companies like ours beforehand, attorneys and structured settlement brokers can connect clients to the services they need without adding to their existing caseload. They get to rest easy and the client gets the right support — everyone wins.
In In Brief, Max said, “When we get a referral from an attorney or a settlement broker, we look at our role as being an extension of their customer service… We want their client to feel like they were sent to the right company, the right people — to someone who listened to them and was able to help them on the road to fixing their problem.”
Selling a structured settlement doesn’t mean there was anything wrong with it
It’s a common misconception that if a person decides to sell all or a portion of their payments, it means something was inherently wrong with the way that settlement was structured. But as Max pointed out in In Brief, life is unpredictable — as the pandemic solidly proved. “Things happen that are simply out of anyone’s control,” he said. “Sometimes that means a very important and valuable settlement plan that was set up years prior needs to be altered or liquidated.”
The good news is that the cash value tied up in a settlement can be a lifeline when people need it most. And our team at Strategic Capital can help people make the right decision to support them when they’re in dire straits — and to set them up for a financially successful future.
We often recommend not selling
“Often, people contact us in a panic and just do not know what to do to raise the money they need,” Max explained. He said that at the end of the day, the service Strategic Capital provides often proves more valuable than the actual selling of the payments.
“Most of the time, people just need someone to talk to who can help them understand their options,” he said. “Quite regularly, this actually means walking people through their options and explaining why it’s not a good idea for them to sell. One-quarter of the time we dissuade people from selling at all because we don’t think it’s helpful.”
In other words, we work to provide recommendations based on people’s unique financial situations, factoring in their specific wants and needs. Our goal is always to help people get into a better situation than when they first come to us.
If you’d like to learn more about Strategic Capital or the service we can provide to your clients, don’t hesitate to contact us.