When you ask yourself, “Should I sell my structured settlement?” You need to think about what you need the money for and what your financial situation will be after the sale. If you want to avoid becoming another “lost their money” statistic you need to adhere to the following steps:
Before you sell structured insurance settlements test your knowledge and see if you mastered structured settlement 101 by taking the following brief quiz about selling your structured settlement for cash now:
Click on the answers and test your knowledge:
You are knowledgeable about selling your settlement, understand the benefits of structured settlements vs lump sum, and probably ready to make a good decision.
just to ensure that you are thoroughly prepared for the sale process.
Checklist for Selling Structured Insurance Settlements
- Find and keep handy original structured settlement agreement.
- Begin a notebook or computer file to record notes during the sale process.
- Conduct structured settlement companies reviews, then get quotes from 3 companies:
- Consult a financial advisor or lawyer, or at least talk to a family member.
- Negotiate best quote.
- Accept quote, in writing or verbally, as required by company. Write down every conversation that I have with every person from the company.
- Submit any required documentation.
- Create a budget to make ends meet without payments that I sold.
- Check with purchaser and asked if there is anything else that I need to do.
- Keep in contact with purchaser at least once every week.
- Attend court date.
- Continue to keep in contact with purchaser until check is received.
- After receiving check, do what I intended to do with the money.
- Invest any leftover money appropriately.