Choosing the right structured settlement buyer may seem like a daunting task, but if you know the right questions and the important information to obtain, this process can be relatively simple.
While the highest quote from any potential buyer may seem tempting, you need to feel comfortable with the company and its reputation before choosing a buyer. Selling a structured settlement can be a complicated legal process; You need to know that the company can be successful in getting your money. Don’t be afraid to question anything that seems suspicious. If they can’t answer the questions to your satisfaction, then it might be time to look for other buyers. Remember it’s your money!
Below is a list of questions and items you should know about any potential structured settlement buyer:
1) How long have you been in business?
2) Is your business and contact information verifiable?
3) Are they guaranteed or insured?
4) What are your subscription criteria?
5) What is your Better Business Bureau rating?
6) Do you handle your type of structured agreement?
7) How many purchases with structured settlement do you make per year?
8) Are they familiar with local courts and state practices?
9) What is your success rate in obtaining structure liquidation applications in your state?
10) How will you price your structured deal?
11) What discount rate did you use in the quote?
12) Can you provide a timeline for the process?
13) Do you use multiple sources of financing for your quote?
14) Are you a principal or a broker?
15) Are they associated with or members of a larger corporation?
16) Do you have a privacy policy?
17) Are they members of commercial and professional organizations?
18) Are they professional in all communications and business presence?
*Consult an attorney, licensed insurance agent, securities broker or other financial professional for advice regarding your personal situation.
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