Sell Structured Settlement Payments

Based on recent news about the secondary structured settlement markets, you already know that transferring your future payments to an investment account is perfectly legal. But, understanding that you can sell your future payments for a lump sum payment today means that you shouldn’t. There are several reasons why. While selling your future payments for a lump sum payment can save you tens of thousands of dollars, doing so may put your financial health at risk if things don’t work out the way you expect.

Sell Structured Settlement payments

One reason that you shouldn’t sell structured settlement payments is the risk of the companies you work with. You may have heard that these companies are called factoring companies. Factoring companies buy payments from people who cannot pay them. The factoring companies then make offers to the payments’ holders hoping that they will agree to pay a lump sum in exchange for allowing the company to buy their future payments.

The problem is that most people are not aware that they have an option when it comes to selling their future payments. The only people who have knowledge of this option are insurance and annuity owners. For the most part, the people who are aware of this option are those who own their own annuity or other type of insurance policy. The factoring companies are those who purchase payments from these policy holders. The factoring companies that buy your future payments are actually discount rate collectors.

When you decide that you want to sell structured settlement payments, the next step is to request a free quote from a few reputable companies. The best way to do this is by using the internet. Once you receive a few quotes, take the time to compare them and find the quote that offers you the best deal.

You may be offered a price between one and three hundred dollars. You will be told how many months you will need to pay the discounted amount plus any fees. In order to get the full discount rate, you will have to pay between six and nine hundred and fifty dollars. Some companies may also offer you a credit towards an early payoff option. This way you can easily have a lump sum at your disposal and avoid paying interest on it for years to come. The lump sum payment should come with a monthly fee and the discount rate should not be less than one percent.

After you have chosen the right company, all you will have to do is fill out the paperwork. The company will then give you an estimate of the time it will take to get the money you need. This process can be rather quick and you may be able to have the lump sum in your possession in as little as two weeks. All you need to do is make sure you get the best option available for your needs and enjoy financial freedom.