If you were awarded a structured settlement, but you need your money now, you should think about selling your settlement for a lump sum payment.Structured settlement quotes can by found with a simple search of the Internet. What exactly can obtaining a quote or several quotes do for you?
Before you decide to sell your structured settlement there is some information that you must know. Some settlements cannot be sold. Approximately two thirds of the states have laws that do not allow these contracts to be sold and if it can be sold you may need a court order in order to sell your settlement.
The contract that was originally signed may not allow sale to another party. This would most likely be a result of how your original settlement was written by an insurance company.
Tax considerations should also be a factor in choosing to sell because you may be receiving higher tax deductions due to your settlement. By deciding to sell your your settlement you may have to pay a larger amount in taxes because you received a lump sum of cash.
Now you have decided to sell. Why is this good for you? The obvious benefit for you is cash now instead of waiting for your future payments. By obtaining more than one structured settlement quote, you can compare who will give you the most for your settlement. When you review the quotes, they may seem less than what you expected, why? Because the company purchasing your settlement is assuming all the risk of future payments plus has to wait a period of time before they receive all the settlements. As we all know, cash today is worth more than cash tomorrow so the price you get today is less than if you were willing to wait to receive your payments at a later date.
Flexible or full payment payout options may be offered through different providers. A flexible payment will give you access to a lump sum now in addition to a portion of you existing payout, which is a good option if you need some cash now for debt repayment but will also give you the security of continued payments. The full payment option is a better option for you if you are in dire need of a large amount of money, whether it be to avoid foreclosure or to pay off large amounts of debt.
It is very important that if you decide to sell a structured settlement, that the company you work with is on the up and up. In the end, you want to make sure that you get the most from your settlement and by comparing structured settlement quotes from different companies you are one step closer to making a great decision.
Settlement Quotes is the leader in providing a dynamic marketplace for you to get the Highest Price Offer for your structured settlement or other annuity by having their Certified Funders compete for your business.Their Certified Funders represent the best companies in the industry. You do not give up any rights to your payments until your transaction is completed and you are paid the selling price. Your case is reviewed by a court and a judge’s order requires the funding company to perform all of its obligations. You are fully protected.