Within the structured settlement factoring industry, every company is not alike. If you are in need of liquidity and have exhausted all other options, getting a lump sum of money in exchange for your future structured settlement payment rights may be the option for you.
Here are a few tips to help you get the most money for your structured settlement:
1) Research Companies
- Check the company's Better Business Bureau record. Is the number of complaints reasonable? Make a decisions whether the company uses ethical business practices.
- Do a Google search on the company. Do you see any complaints? Bankruptcies?
- Get the opinion of outside sources and provide the sources with the information you have uncovered. Sometimes a different opinion can be a better opinion.
2) Get Several Quotes
- Don't jump at the first offer you receive. Many times companies will lowball a quote to make more profit.
- Don't disclose the quote amounts that you have received from the other companies or the names of the companies you have received quotes from. Find out if the company is going to try and take advantage of you or if they are going to provide a great quote from the start. You will know who is looking out for your best interest once you use this tactic.
3) Closing Date Guarantee
In order to secure more transactions and higher profits, companies will use tactics such as "interest drag" to delay the closing on your structured settlement factoring transaction.
- Get a guarantee that the closing will be within a reasonable time period. In most states, except New York (12 weeks), an 8 week guarantee is usually sufficient.
- In the guarantee, demand that any delays will award the per diem amount be paid to you upon closing. This way you will know the company is not profiting by delaying you case.
By using these three tips, you can be sure you will receive the most money for your structured settlement. If you have any questions, please feel free to call us at 1-888-665-1257.
