There are a lot of financial advisers and CFP’s who will tell you where to spend, invest, and save your money. At the end of the day most of them want to receive their fee and may or may not know what is truly in their best interest. The good thing is most of these individuals realize that if they steer you in the wrong direction then they risk losing their license and can thus get into big trouble.
When you are looking to sell off a structured settlement payment you are dealing with companies that know the importance of treating you with the utmost respect and obeying the laws to ensure that they help to facilitate a deal that gives you the money you need and the judge is okay with approving your deal.
There is a long list of companies that you can work with to trade in your payments. To transfer your pay outs we recommend the lump sum company based in Florida as they have faciltated and helped over 1,000 people in the last year to transfer their payments and have become one of the largest buyers in the entire world. The iSettlement company is also very well respected and has led the way to approve and service clients every need.
Here are some common questions you can ask when looking to sell a payment:
How long has the company been in business
Are they accredited with the BBB
Are they a big company
Can they afford to purchase my payment streams
Is their staff knowledgeable and friendly
Hope this helps to assist you in your future sale if you do decide to move forward.
Why is the structured settlement secondary market so different from the primary market? We can only assume the main reason to be that money is the big differentiator followed by regulation. In unregulated markets things tend to get a tad out of control. In the case of the payday loan lenders they went unregulated and started to collect ungodly amounts of interest from borrowers that broke usury laws in many states. When you look at the primary market you have financial advisors who are looking to place accident victims in a steady stream of payments that will benefit them for years to come. With the secondary market you have a bunch of salesman and money grubbing individuals who are out to deepen your pockets and theirs at the same time when you need money the most.
Is it that the settlement payments these people are receiving is not enough and thus the reason for the secondary market? We can come up with many theories but at the end of the day those looking to sell off their future payments in the secondary market are extremely glad that this market exists and they could care less the name of the company but rather the fact that they are getting what they want at the end of the day: MONEY.
The secondary market is ripe with fraudsters and scam artists but then again so is the primary market that issues these payments. Whether it’s the brokers, lawyers, expert witness in the case or anybody else who acted out of dishonesty then you can certainly know that any industry has slightly shady characters.