Archives for October 2013

How to Build the Best Case for a Structured Settlement Sale

You would think that selling a structured settlement would be a relatively simple process. However, if you’re not prepared for the realities of this situation, it can be quite complicated. The most important thing to understand is that you have to go back to court, and the judge MUST approve the sale of your settlement. Without the judge’s approval, your sale is out the window. Of course, you’ll still enjoy your regular scheduled payments, but you will not receive a lump sum. The trick is to make the best case possible for the judge to approve your sale. How do you do that?

Real Financial Need

One of the first things to understand in this process is that you need to have a real financial need. If you’re selling your settlement simply because you want the extra cash on hand, the judge is going to take a dim view of your sale. If you’re selling your settlement to help make ends meet because you’re out of work, but haven’t done any actual job hunting (and are able to work), the judge likely won’t approve your sale. While there’s no way to give a 100% guarantee that a judge will approve the sale of your structured settlement, having a real, verifiable financial need for a lump sum payment goes a long way.

Prove You’ve Gotten the Advice of an Attorney

Let’s get something straight – you do NOT have to consult an attorney concerning the sale of your structured settlement. However, it’s a wise thing to do. If you can prove to the judge that you’ve spoken with an attorney about the sale and been advised that it’s the best move for your situation, he or she will mark that in your favor. Of course, consulting an attorney before selling your settlement really is a good idea in order to get some necessary legal guidance here.

Working with a Reputable Buyer

Not all buyers out there are on the up and up. Some have a long, verifiable history. Some are newcomers. Some are “shady”. The judge is going to investigate the buyer and if he or she finds that the buyer isn’t up to par, your sale is on the skids. Make sure that you’re working with a reputable buyer capable of upholding their responsibilities after the sale is finalized. That can be difficult for most consumers who have never been in this position before. There is a way around this obstacle, though. You’ll find third party service providers available that work in the seller’s best interests. These firms vet and verify the quality of all buyers so you don’t have to stress about it.

If you follow these brief tips, you’ll make your case more palatable for the judge and increase your chances of being approved to sell your structured settlement. The most important consideration of all is to work with a reputable seller services company to streamline the process and protect your interests from unsavory buyers.