Should I Sell My Structured Settlement?
"I have a structured settlement and I need cash!" is a frequent rallying cry of those who face sudden financial hardship and have a structured settlement. A structured settlement payout can take a long time to come around, and a structured settlement buyout might be a better option, depending on your particular cash needs. You should do due diligence and research the implications of selling your structured settlement. A structured settlement calculator can be found on many sites, and if you are going to sell structured settlement, calculator will be essential to making sure that you are acting in your best financial interest. Make sure you talk to a certified financial planner or advisor before choosing to sell your structured settlement.
It's a Good Idea to Sell If ...
Many people consider selling their structured settlement if they need cash now, and don't or can't wait for their next payment, or if their payments aren't enough to cover their expenses. Consulting a structured settlement annuity calculator will help you decide if the money you will lose on the broker's discount rate is worth the benefit of having greater financial liquidity on hand.
How Do I Sell My Structured Settlement?
One of the first things to do when you are looking to sell your structured settlement is to look into the best structured settlement companies. Contact these companies and get structured settlement quotes from them, which will give you an idea of who is offering the best deal. Once you have a structured settlement quote, you will contact the structured settlement purchasers and they will help you get the process going. You will have to receive approval to sell your settlement from a judge to make sure you aren't being exploited, and who will also take the needs of any minors or dependents into account. After this process has run its course you will sign the papers to exchange your structured settlement for a one-time cash payout. This money can be used for any expenses that you might have, from car repairs or home repairs, medical, legal, or credit card bills, or just to have some extra cash on hand. Understanding these financial products can be challenging, so it's important to talk to a certified financial advisor who can help you understand all of the implications of selling your structured settlement before you decide to make any sale. This will ensure that you and your family will be protected for the future.