Going to court isn’t the only way to settle a lawsuit. In fact, more than 95% of lawsuits settle without ever going to trial. Once they do, the injured party will often receive a structured settlement to slowly pay for the injuries they suffered.
For many people, waiting until the end of the settlement’s term to receive the full amount they’re owed isn’t ideal. Luckily, you can sell your settlement to get a cash payout upfront. But you need to make sure you’re getting the largest payout possible.
Here are a few things you can do to increase the chances of getting a fair payout.
Make Sure Selling Is the Best Choice
When you sell a structured settlement, the cash payout will never be the same as the full amount of your settlement. This is because the buyer needs to make money on the purchase.
Before you make the decision to sell, think about your goals and consider why you’re wanting to sell in the first place. If you need the money now or the distributions that you’re getting each month aren’t enough to make a difference in your life, selling is a good choice.
However, if you want to get the full amount of your settlement, selling won’t be the best option.
Look at Reviews for Different Companies
There are tons of structured settlement firms that specialize in buying settlements and issuing cash payouts. But some are better than others.
According to Rightway Funding, you’ll need to do some research before you can choose the best companies for your needs. Look for both local and national companies and read up on reviews to see what others have to say about their experience.
If most of the reviews are positive and the payout process seems simple and fast, the company is worth contacting. But if the reviews mention delays or problems getting payouts in the first place, keep looking.
Get Offers From Several Buyers
Once you’re sure selling is a good choice, you’ll want to shop around. Get quotes from several structured settlement buyers and compare the quotes in detail.
Look at the amounts they offer for your settlement and pay attention to any additional fees or service charges they assess. As a general rule, you’ll want to choose the company that offers you the highest price and the easiest settlement payout process.
You Can Get More Cash for Your Structured Settlement
You don’t have to settle for monthly payments if you have a structured settlement. Selling one will give you access to cash upfront. Just make sure to consider these key things before you sell.
As long as you take your time, research companies, and compare offers in detail, you’ll be able to get the largest amount for your settlement.
Once you receive your cash payout, how you use the money is up to you. Check out our latest posts for tips to help you spend the right way.