How to Sell a Structured Settlement Payment - What You Need to Know

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People have various reasons for selling their structured settlement payments.

Some need to have money right now to take advantage of an investment opportunity. Others are in the unfortunate position of having out-of-pocket medical expenses, or just need to cover living expenses as they recover from an accident.

Either way, selling your structured settlement payments for cash is the only way you can use it to cover a major expense.

The Best Way To Sell Your Structured Settlement

There are plenty of reputable companies that deal with purchasing structured settlements for lump sums.

They're not hard to find - you can start by getting referrals from brokers or lawyers. You should also be searching the Internet... the structured settlement market is extremely competitive online and companies have to give you great deals if they're going to compete with each other.

Selling Your Structured Settlement

There's quite a bit of paperwork involved with selling your structured settlement. It's not complicated, just time consuming - of course it's worth it in the end!

You see, potential buyers want to look at your assets to assess their options.

Avoid Making This Common Mistake Most People Fall Into When Selling

Depending on how long you've had the settlement, a buyer might want to "discount" the value to account for inflation.

Here's the basic idea: The value of the dollar is not the same now as it was 20 years ago. Inflation affects the economy and buyers will want to adjust for it.

Again, this won't affect you as much if you've only recently been awarded a settlement.

Either way, inflation is *always* working against your finances so make sure you make the right decision.

How Do I Get My Lump Sum Payment?

Once the paperwork goes through and gets approved, the buyer will ask how you want to receive payment.

Lots of folks choose direct deposit straight to their bank account. Others will want a cashiers check from a bank.

Don't Let The Process Stress You Out

I always recommend doing as much research as possible beforehand. Take your time talking with various buyers... have "fun" shopping around and let potential buyers know that you are - this will make them compete harder for your business!

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