Beware of Structured Settlement Buyers

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If you fall into the latter category then beware of structured settlement buyers. The reason I advise this is because unless you have good knowledge of the market, you could well end up being paid far less than you could have got somewhere else. As in all industries, there are the good, the bad and the greedy.

If you are wanting to sell a structured settlement, then get a good solicitor or lawyer and get a quote from them as to what their charges are going to be first. They usually either work on a flat fee or on a percentage basis but you need to have these figures ‘up front’ so you will know what expenses have to come out of the settlement agreement so you will know what is an acceptable offer for someone to buy your agreement.

To get a structured settlement agreement you may have had to go through considerable pain or angst to get it and it is now your asset. Treat it like an asset and look to sell it for the highest possible price. You may need to divorce yourself from your emotions to do this and so it won’t be easy to let it go. Emotional attachment plays no part in common sense business.

If you have got this settlement from an insurance claim because you were involved in an auto accident for example, you will most likely go through a grieving period. Go with the flow, and don’t be afraid to talk about your feelings to your family but don’t do it to a potential buyer, even though they may (if they are unethical) want you to talk about the circumstances in which you were awarded the settlement.

They may try to entice you to do this in the hope that the horror of it all will break your resolve and make you feel that all you want to do is to get rid of it at any price. This is just an under-handed tactic that some may use in order to get the agreement for a lesser price. Don’t fall for it. Also, personally, I wouldn’t be doing business with them either because they have shown themselves to be ‘dirty-players’ and you you don’t need to get any more problems from this settlement.

Selling a structured settlement is simply selling an asset and you shouldn’t sell any asset unless you need to. If you do need to sell it then beware of those who buy structured settlements because they aren’t always as ethical as they should be.

 

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