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Buyers & Purchasers of Structured Settlement Payments
Companies that purchase structured settlement and annuity payments form what is known as
a secondary market.
There are many buyers on the secondary market
and if you�re looking to sell there are some key points you need to know to obtain
the best price for your payments along with good customer service.
Trying to figure out where to sell payments from your annuity or structured settlement?
We can help
Although the task may seem difficult, it really isn�t.
There are firms specializing in buying payments, and they can get the process started with
just one call from you.
The journey begins with learning what a buyer does, steps to consider, and finding a buyer
who is right for you.
People interested in selling annuities and structured settlement payments turn to structured
settlement companies in what is known as a secondary market.
The secondary market started about 25 years ago and has grown dramatically as it has developed
into a competitive and regulated industry.
Buyers are individual investors and businesses who are willing to purchase payment streams
in exchange for lump- sum payments.
Whether you have a settlement from a personal injury, or an annuity you inherited from a
family member
getting money in the near future requires finding a quality buyer who will deliver the
best service available.
What Is the Buyer�s Role?
Structured settlement companies acting as buyers are available online and by telephone
to discuss your interest in selling payments.
A buyer will review your situation and in most cases provide you with an offer if the
terms of your annuity or structured settlement allow you to sell your payments.
Buyers benefit by purchasing your payments at a discount.
Although you lose some of the value of your payments
the ability to receive money in a lump sum can be an advantage, especially if you have
a financial emergency or want to make a major purchase such as a car or house.
The secondary market stays competitive as buyers use their available resources to provide
you with up-front cash, in exchange for waiting months or years for the payments you sold
them
While they benefit from the profit margin related to the discount rate and waiting for
a long-term payout, you benefit from receiving money now.
Selling Your Payments in the Secondary Market
The primary market for structured settlements is estimated at $6 billion in sales a year,
and the secondary market buys its products from the primary market
As these businesses developed, the industry has become highly regulated and closely monitored
to protect the seller�s best interest.
Because there are about a dozen companies prominently involved in the secondary market,
buying annuity payments, it makes sense to shop around and compare rates.
Remember that companies buying structured settlements are businesses trying to make
money.
They charge fees for their service, similar to the way banks charge fees for loans or
credit card accounts
The fees for structured settlements pay for legal, administrative, recording, filing and
miscellaneous work.
These fees are usually factored into the settlement.
Once you have chosen a company, they should send you a contract and disclosure statement.
You should review the contract and disclosure statement, either with your attorney or a
financial advisor
When you sign it and return it to the company buying the annuity payments, they must file
it with the appropriate court to get a judge�s approval.
The court then convenes a hearing and may ask you to attend the hearing to answer questions
about why you want to sell the structured settlement.
If the court agrees to the payout, the judge will approve the transfer and you will receive
a lump-sum payment.
You can check with the Better Business Bureau or Chamber of Commerce where the business
is located to see how other people in your situation have felt about working with a particular
company.
You should feel comfortable throughout the process of getting a quote.
Avoid companies that put undue pressure on you to sell immediately or have poor ratings
from the Better Business Bureau
A trustworthy company should be able to get you money quickly but also take the time to
answer any questions you have along the way.
links http://paymaster.co/structured-settlement-companies/
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