Why you need objective advice before you sell your annuity structured settlement
Structured settlement factoring companies sell annuity buyers who take your stream of payment in exchange for a lump sum – in business to make money. It is not there to help you, and they are not on your side. This does not mean it is evil; it simply means that they are in business. As a result, it is important that you can find your own best interests by agreeing to sell your structured settlement.
Get advice. First, if you can, tell a trusted friend or financial advisor that you are thinking of selling your structured settlement. Someone else may be able to give substantive suggestions for other ways you can get the cash you need, or to meet your financial obligations, without selling. Sell annuity financial adviser may also be able to help you find alternative financing, or work with you to restructure your debt into something more manageable. Although financial advisers charge a fee, it might be worth it, considering how many will give up if you sell your structured settlement.
Watch out for compression methods. While selling an annuity sale settlement structured new for you, it’s just another day for structural settlement buyer. They know the hopes and fears of the structured settlement, owners may try to play on your emotions to get logged on to deal in a hurry, or agree to sell the annuity deal is best for you. Avoid this kind of pressure. If possible, get a friend to be with you whenever you’re dealing with structured settlement companies to give you a second opinion, and get repulsed by signing in a hurry. If you have someone who can serve in this role, promising to wait at least 24 hours before making a decision – write it down and then place if you need to. The company says that you have a financial advisor who must look at every aspect of the transaction, even if you really like this person. The company in an attempt to convince you that the deal will be off the table if you wait; this even bigger red flag back away.
Get legal advice. Most States require structural adjustment ‘ to get legal advice before selling their structured sale annuity chose an independent lawyer (avoid any attorney who is “popular” or “buyer” recommended structural adjustment) and who has experience with structured settlement factoring transactions. Listen carefully to his or her advice. If s/he tells you that sale of a bad idea, a review of the decision on the sale.
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