The 12 Questions of Selling Your Structured Settlement Payments
December 21, 2011 – As 12 is a popular number this time of year, at Annuity Transfers we have devised a list of 12 basic questions you should ask any prospective buyer when considering selling your structured settlement payments:
1. Are you a broker or a direct funder?
2. What is your rating with the Better Business Bureau? Direct me to the rating on the internet in order to verify…
3. How long have you been in business?
4. What is your approval rate in court?
5. Have you ever completed a transaction in my state? What about the specific area and county where I live?
6. Is the amount you have quoted gross or net? Will I be responsible for any fees or expenses?
7. Are the testimonials on your website real? Prove it…
8. Is a commission, referral fee or any other bonuses being paid to anyone as part of my sale to your company?
9. Do you operate any other businesses or websites using a different name? Is the connection between companies disclosed…if not, why not?
10. Has your company ever filed for bankruptcy? If so why? If so, how can you assure me that I will be funded after court approval?
11. How quickly will I receive my money after court approval? What is your funding process…again, are you brokering my payments to a third-party?
12. Given that so many companies want to buy my payments, why should I do business with you/your company?
Navigating the various companies offering to buy your structured settlement payments can be difficult and confusing. We believe this list can help sellers determine a level of trust with the company. The reality is that all companies offering to buy your structured settlement annuity payments are not created equal. Some will offer a much higher price, some will need to broker your payments to a third-party because they lack their own capital, some have declared bankruptcy in the past or operate shadow companies and websites under different names.
The answers to these questions are important and any difficulty answering these basic questions could be a sign that there may be trouble ahead when it comes time to fund your transaction after court approval, or even difficulty obtaining court approval. We hope this list is helpful to you. Happy Holidays!
