If you have been awarded a settlement due to an injury that you have suffered, then you could be in good financial shape for a long time if not life! A structured settlement provides you with a guaranteed income throughout the term of the settlement, which can help your financial situation greatly. However, there may be a need for you to access the value of your structured settlement as a lump sum faster than the scheduled payments. If this applies to you, then you can make the decision to sell your structured settlement. Buyers of structured settlements can provide you with your cash when you need it the most in exchange for your future payments.
There are only a few companies that buy structured settlements around the country, and choosing one can be a difficult task. At We Pay More Funding, we have put together a guide on how to find the best structured settlement companies and how to choose the one that will provide you with exactly what you are looking for.
Searching Online for a Structured Settlement Company
The first step that you will likely take when looking for a structured settlement company is a simple web search. As you can imagine, there are many people all over the country who are looking for an easy way to sell their structured settlement payments at the right price, so you can expect results to be displayed. How do you choose the right structured settlement buyers? It is not as simple as selecting the company at the top of the search engine results. Instead, you must carefully assess all aspects of the company to be sure that they can provide you with a reliable and transparent transaction.
No two structured settlement companies are the same. They could offer different discount rates and have different ways of interacting with their customers. At this stage, performing a search online to find out who buys structured settlements can help you create a list of companies that you can perform further research on. This step of the process can be one of the most confusing, as there are many companies to choose from. However, by checking various aspects of each business, you can make the right decision.
Check A Structured Settlement Company on Social Media
Once you have created a list of the structured settlement companies that you have found through your online search, the next step of the process is to begin your research. One of the easiest ways to learn more about each company is to check their social media and Google. Structured settlement companies, such as We Pay More Funding, often provide a wealth of information on their social media pages on platforms such as Facebook and Google. Companies may also provide an easier way to connect with them through these websites, which will come in handy in the next stages of your search.
As we mentioned, honesty and transparency is key when working with a company who is willing to purchase structured settlements. You may prefer to work with companies who regularly post information on their social media and that offer a human side to their business by engaging with their followers. After all, this is one of the most important financial decisions that you will ever make, and it is important that you know that the company truly cares about those that they work with. You may also be able to find reviews and testimonials about the company by browsing their social media pages, which can also help you in making your decision.
Do Research on Companies’ Background
When you decide to access structured settlement cash, you are essentially selling the rights to your future payments in return for a lump sum payment. It is therefore highly important that the companies that you consider working with are trustworthy. Does each company have a track record of keeping their promises? Have they had any legal troubles? The answers to these questions and more will help guide you in making the right decision. If you choose the wrong structured settlement company, you could risk putting yourself in a very stressful and frustrating position.
Firstly, establish that the company has a track record. Websites like the Better Business Bureau (BBB) or Google can help you determine the company rating, which is based on, among other things, how they have treated their past customers. It is a good idea to perform a web search on the name of the company to see if any information pertaining to previous lawsuits is available online. Avoid working with companies that have a low rating, and those that have negative reviews for doing the wrong thing by their clients.
Your background research is one of the most important steps that you can take, so be prepared to spend a lot of time on this aspect of your search.
Connect with the Structured Settlement Company and Speak with Them
You, as the owner of a structured settlement, are responsible for selecting the structured settlement company that you want to work with. Once your background research has provided you with a short list of companies that you are considering, it is time to speak with them. Treat the conversation like an interview. It is not your role to cater to them. Instead, they need to prove to you that you should choose them for the transaction. You are well within your rights to call each company and have a conversation that outlines your needs, expectations, and desired outcomes.
Another reason why speaking to each company directly is a good idea is that during the conversation you can learn a bit more about the way the company works and how much knowledge they have with regards to the industry. If the company representative can answer all of your questions to your satisfaction, are showing you that they care, and are making you comfortable throughout your conversation without putting any undue pressure to sell, that could be good sign.. Remember, you do not have to choose a company that you have spoken to on the phone, but after the conversation you should get a feel for whether or not you want to move forwards with them. Read on to learn about the kinds of questions that you should be asking each company.
Important Questions That You Should Ask Structured Settlement Companies
During your interview with the structured settlement companies be sure to ask a range of questions that can help you determine whether or not they are the right fit for your needs. The following questions should be asked:
What is their discount rate?
The discount rate determines how much the buyers of structured settlement companies will pay for your settlement. Each company has a different rate and this will determine the final value of the lump sum payment that you will receive.
What is their success rate completing sales?
Make sure you have an understanding of how often their sales are completed and approved by the courts. This could indicate both that they know what they are doing as well as that they are working with their customers in an appropriate way, being recognized by the courts agreeing with their stance that selling the future settlements is in the annuitants best interest.
Do they provide customer support?
A great structured settlement company will offer support throughout the transaction, including the steps that require going to court to have the sale approved.
Do they provide a clear timeline for the process?
If you want to sell your structured settlement payments, then understanding how quickly the process moves can make a big difference to whether or not you choose to work with a company.
Do they offer competitive rates?
We mentioned the discount rate, but what many sellers of structured settlements do not realize is that the lump sum amount can often be negotiated. If a structured settlement company is prepared to work for you, they may offer a more favorable rate so that you can enjoy a higher lump sum payment.
Are there any hidden fees?
No one likes surprises, and hidden fees can be the worst surprise of all. Ask the company if there are any additional fees to pay so that you can be completely informed throughout the process.
Choose a Knowledgeable Structured Settlement Company Like We Pay More Funding
Once you have worked through the steps listed above, you should have a great idea of the structured settlement company that you would like to work with. Now, you can make the most informed decision to work with a knowledgeable structured settlement company for your transaction. At We Pay More Funding, we buy structured settlements and support you at every step of the process. We work with you to ensure that you are completely happy with the outcome, so that you can enjoy financial freedom. If you are interested in working with We Pay More Funding, or want to learn more about our services, call us today at (877) 431-0704.