It’s Easy to Get Cash for Structured Settlements
Now a days, it’s no longer difficult to find ways to get cash for your structured settlement. It used to be nearly impossible to get a fair deal in a short amount of time. It used to take a long time to find one buyer, let alone set up a situation where you could have a few buyers bidding on your structured settlement. As a result of the change in the way things work, more and more people are benefitting and selling their structured settlements for cash.
Get Cash Quickly
You can really get cash in a hurry for your structured settlements, according to the Structured Settlements Blog. The process is pretty simple and straightforward. Visit a site like www.StructuredSettlement-Quotes.com, and fill out the relevant information in order to request a quote. This is usually a quick and easy process, and you won’t have to provide too much information. Just tell them about your structured settlements, how many payments are remaining and how large they are and then fill in some contact information.
Once that happens, the company in question will get some quotes from potential buyers. They’ll provide you with the best ones, and you will then have a period of time to consider the quotes and decide whether or not to accept one. Usually you’ll have a day or two to decide. You will not be under any obligation to accept one, so it’s a risk-free way to evaluate your options and find out how much money you can get for your structured settlements.
What Happens Next
After you accept an offer, the process of completing the sale will begin. This will involve filling out more forms and documents in order to transfer ownership. You will need to allow some time for everything to be processed and to go through court, and you may need to speak in front of a judge in order to explain why the sale of your structured settlement is in your best interest. They will make a ruling on whether or not to allow the sale, and then you’ll receive your cash right away.
In some cases, the buyer of a structured settlement will even front some of the money to the seller so that they do not have to wait for the process to play out. This can be particularly useful in times when the money is needed in a hurry for an important financial obligation.
Advantages of New Processes
In the past, it was really difficult for most sellers to navigate the process. They didn’t have clear-cut instructions and they had to find a way to locate a potential buyer and then complete the transaction. Now, there are websites that basically serve as marketplaces. This shifts the power in the transaction so that there is more of a balance between the buyer and the seller in terms of leverage. When the buyers know that there are multiple people competing, they are more likely to offer more money and the seller is going to have an increased chance of getting a better deal. On the other hand, the old process used to leave the seller with only one buyer. That meant that they had little or no negotiating power and had to try to get the most out of only one buyer who knew that he or she did not have any competition.
Advantages of Selling a Structured Settlement Online?
If you are considering selling a structured settlement, you are fortunate to live in a time when the Internet offers a lot more options than sellers had in the past. This has created a shift in the marketplace for selling structured settlements, which can be felt both online and offline. However, there are still advantages to selling your structured settlement online.
Quicker Process
When you sell your structured settlement online, you will be able to work your way through a very quick process. You’ll visit a website like www.StructuredSettlement-Quotes.com, and then provide them with some basic information about yourself. This will include you contact information. Then you can fill out a form about the remaining payments on your structured settlement, as well as any other pertinent details. This entire process can be done at once and shouldn’t take up much of your time.
After you provide the information, the quotes will start coming in very quickly. They’ll screen out the best quotes and then provide them to you to consider, at which point you can make a decision on whether or not to accept one and go ahead and sell your structured settlements. This part of the process can move very quickly when you sell online, and it can be wrapped up in just a couple of days.
This enables you to move toward the sale a lot faster, which means that you can get the cash that you need in a hurry. As a result, it is a huge advantage in selling your structured settlements online.
Easy to Understand the Process
When you sell your structured settlement online, you can easily pull up step-by-step instructions and read them so that you understand what is happening and what information you need to provide.
This way you won’t have to worry about whether or not you missed anything or provided all of the necessary information. You simply follow the steps and then wait for the quotes to come rolling in. It really doesn’t get any easier than that.
In addition to being simple, it won’t require much work. You don’t have to worry about making a phone call or scheduling a meeting. You can simply fill out the forms that are needed on your own time in the comfort of your own home.
More Offers and Better Offers
When you sell your structured settlement online, you are increasing your chances of getting more offers and higher offers. This is because the people who want to buy your structured settlement know that they are competing with a number of other buyers. As a result, they will offer more money to increase their odds of placing the winning bid.
This is a far cry from the offline process in the past, because it used to be very difficult to find buyers. You’d be lucky to find one person interested in buying your structured settlement, let alone enough to create a bidding war.
Best Way to Find Structured Settlement Buyers
If you have considered selling your structured settlement before, you may have had a difficult time locating potential buyers. This has been a common problem in the past, so it has caused a lot of people to shy away from selling their structured settlements. However, if you believe that it might be in your best interest to investigate your options with regard to selling your structured settlement, you owe it to yourself to find some potential buyers. Then you can get quotes and figure out exactly how much cash could be on the table for your structured settlement.
Benefits of Selling a Structured Settlement
There are a number of advantages to selling your structured settlement. Some of them are predicated around short-term benefits, while others are part of a long-term strategy that can lead to more financial security in the future.
If you have short-term financial needs that you cannot afford to handle, then selling your structured settlement can get you the lump sum of money that you need in order to solve your financial problems. Often times, periodic payments aren’t enough to help, but the lump sum from the structured settlement can be enough to make a major difference in your current financial situation.
Another scenario might arise when you have an investment opportunity that you cannot afford to take advantage of given your current financial situation. However, when you sell your structured settlement, you will have the large amount of money needed to make the investment. This can give you great financial security in the future.
Find Out if You Can Sell Your Structured Settlement
According to WikiHow, the first step in the process of deciding whether or not to sell is simply to determine whether or not you can sell your structured settlement. Some structured settlements are not transferable at all, but usually that will not be the case. In fact, even if there is some language in yours that says it is not transferable, you should speak to an expert.
In many cases, courts will rule for the owner of the structured settlement to be able to sell it if it is in their best interest. Thus, you shouldn’t give up just because you aren’t entirely sure whether you’ll be able to sell it. In fact, in some states, there are laws on the books that protect the rights of owners of structured settlements to be able to sell them, regardless of what any language in the agreement itself says.
How to Find the Buyers
The new way to find structured settlement buyers certainly beats the old one. All you have to do now is visit a website like StructuredSettlement-Quotes.com and fill out the forms to provide information about your structured settlement. Once you provide some details about the remaining payments and the value of your structured settlement, they will be able to get you some great quotes on offers to buy it from you for a lump sum of money. When buyers compete with each other to put in the best bid, it benefits you greatly.
Selling Your Structured Settlements Can Be a Windfall At the Right Time
More and more people are finding that selling their structured settlements can be a huge benefit to their financial well-being. There are a lot of reasons to consider selling your structured settlements, so you should definitely consider whether it is right for you.
Before you can decide whether you should go through with a sale or not, you need to try to figure out what a reasonable offer would be on the remaining payments in your structured settlements.
Discounting Payments for Time
When you sell your structured settlements now, you’ll have to understand that you will not get the full value of the remaining payments. There are a couple of reasons for this. The first is that money now is worth more than the same amount of money in the future, as it will have the opportunity to gain interest over time. As a result, the fair value for the structured settlement is actually less than the total sum of the remaining payments.
In addition, you have to keep in mind that the people buying structured settlements do need to turn a profit, so that will be factored into the discounted rate as well. Thus, you’ll want to make sure that you have realistic expectations with regard to how much money you expect to receive for your structured settlement. Once you do that, you can proceed in the process and try to get a few quotes and weigh your options.
How to Get Quotes
It’s really easy now to get quotes for your structured settlements, according to Market Watch. All you have to do is find a site that is offering quotes, such as www.StructuredSettlement-Quotes.com. You can then enter a little bit of information about your structured settlement, as well as your contact information. They will then shop your structured settlement around to buyers, looking for the best offers.
What Are Structured Settlements?
In the United States, about 15,000 structured settlements are bought or sold in a given year. This makes up a total of more than $6 billion changing hands and it is a market that is growing.
That said, if you are not actively involved in the structured settlement market, you may not realize what they are or have too much of an understanding over how they are implemented. They typically originate out of personal injury lawsuits, wrongful death claims or other similar legal action.
When a case is wrapped up, there will often be a structured settlement reached between the winner and loser in the case. Typically, there will be a series of payments that add up to the total amount of the decision. This enables the defendant to find a way to make payments without going into total financial disarray. It can also be advantageous to the recipient if the money is needed to pay for expenses that will be continuing for a long period of time.
Tax Benefits
According to Forbes, the driving factor behind most structured settlements is taxes. More accurately, it’s avoiding taxes. As long as the structured settlement meets specified requirements, the owner or recipient of the payments can have the federal income tax on the money waived. This is possible when the structured settlement arises out of a lawsuit or an agreement for payment in accordance with damages, which can be excluded from gross income. It can also be the case when there is a structured settlement arising from a workman’s compensation claim.
When the periodic payments are made, they must go to someone who was a claimant in the suit or who has been given a qualified assignment of those payments after the fact.
Essentially, all of that just means that money received in a structured settlement may be tax free when those conditions are met. Whether it comes from the end of a lawsuit, or from a settlement to avoid court all together, these requirements could potentially be met.
Complicated Parts of the Process
In order to get the full tax benefits, there must be a third party set up to be the assignment company. This company buys the annuity that is used to create the structured settlement, and receives a lump sum of money from the defendant. They then administer the policy and pay the recipient in accordance with the agreement in place.
This is a complicated structure, but it is necessary in order to receive the tax benefits that are mentioned above. As a result, it is commonly used to provide benefits to both parties involved.
What Are The Benefits of Selling Structured Settlements?
It’s hard not to wonder about the possibilities of selling a structured settlement with so many people offering you that option. There are plenty of benefits to consider, and for a lot of people selling structured settlements makes perfect sense.
When you consider whether or not to sell your structured settlement, it is important that you consider both the pros and cons, according to Yahoo. In many cases, it makes perfect sense to go ahead and sell your structured settlement and see what you can get for it. However, in others, you may be better off holding onto it. You’ll need to figure out what is right for you and act accordingly.
With that in mind, below are some of the best reasons to sell your structured settlement payments.
Need the Money for Something Important
This is by far the most common reason that people sell their structured settlement payments. They have an urgent financial need that they cannot account for with the money that they have on hand. As a result, they decide to look into all of their available options.
In many cases, the best available option is to sell their structured settlement and get a lump sum of cash right away that they can tap into in order to handle their pressing needs.
In many of these cases, the need arises due to unforeseen circumstances that are unrelated to the structured settlement. It could be due to car problems, home repairs or other random financial needs. However, in some cases it is directly related to the structured settlement.
Settlement Becomes Insufficient
Unfortunately, sometimes a structured settlement does not live up to what it is trying to do. For example, if there is a settlement that is supposed to provide for medical care as the result of an accident, it has to be carefully planned in order to ensure that it will continue to live up to the needs of the injured or ill.
Medical costs can rise rapidly as needs escalate and as part of inflation. As a result, if a structured settlement was created with fixed payments, they could very well become insufficient over time. If that is the case, there is often no other option than to sell the structured settlement for a lump sum that can provide some financial relief.
In some cases, the structured settlement is largely adequate to handle medical expenses, but some large unforeseen expenses can arise too. In these cases, it might be better to sell some payments while holding on to other in the future.
This is a balanced approach that can provide immediate financial assistance in the short term while still preserving some long-term financial security.
