31 Jan 2015 --- Father and daughter with laptop and game at wooden table --- Image by © Uwe Umstätter/Westend61/Corbis

Reasons for Selling your Structured Settlement

No two people are exactly the same when it comes to selling structured settlement payments. You must ask yourself what the purpose is of selling your periodic payment stream for a lump sum of cash. Selling payments is an extremely important and personal decision that you need to feel comfortable with before making a transaction. Not only must you be comfortable with your reason to sell your structured settlement payments, the judge approving your transfer must also be made comfortable that you are making a wise financial decision.

Many annuitants feel trapped due the original set-up of their structured settlement annuity. What may have made sense 10 years ago may no longer meet the needs for an annuitant today. Selling structured settlement payments can be difficult and even overwhelming without professional guidance.

Some of the most common reasons for selling annuities include paying for an education, starting a business, purchasing a home or an investment property, and planning for the future. No matter what your reasons are for selling your payments, you should consult with a financial professional. If annuity payments are transferred incorrectly, there can be adverse tax consequences.

If you’ve looked at other options and feel confident that selling your payments is right for you, it’s imperative that you work with a company who truly has your best interest at heart. Several lump sum companies have reportedly been treating their clients poorly. Companies intentionally miscommunicate dollar amounts, and even misrepresent themselves all for their own profit. It’s highly important that you work with an honest company who will take care of you throughout the entire financial process.

In closing, each annuitant’s reason for selling their structured settlement payments is extremely personal. No matter what your circumstances might be, an industry expert should be involved with the process. Consult with a lump sum company like True Vision Funding to learn how the process works and decide if it’s right for you.

Selling Structured Settlement Payments

4 Common Mistakes made Selling Structured Settlement Payments

Finding it difficult to make ends meet before your next structured settlement payment hits the bank? Well, you’re not alone. Actually, many structured settlement payees have a hard time living off their periodic payment stream.

This is understandable considering life has a way of throwing financial road blocks at us when we least expect it! What do you d0 as an annuitant when you need to sell structured settlement payments as quickly as possible?

  1. First, it’s important to make sure you actually need to sell your payments. Many structured settlement annuitants won’t take the time to look into other financial options other than selling their payments. This is a major mistake because your annuity is an ill-liquid asset that needs to be treated with care. This leads us to our next pitfall.
  2. Make sure you have a sincere motivation to sell. Every transfer of structured settlement payments must be approved in court. The courts look at every transaction on its own set of facts, but if you don’t present the judge with a true vision as to why you want to sell your funds, your transaction could be in jeopardy.
  3. Another mistake to watch out for is misrepresenting yourself and/or your payment stream to the lump sum company helping you transfer your payments. Not only does this create unnecessary confusion, but it will also severely decelerate the process time of getting money into your pockets.
  4. While misrepresenting yourself will slow down the processes of getting you paid, it’s just as important to deal with a company that takes excellent care of you. Remember, this is YOUR money that you’re selling. If you feel that the company can’t meet its obligations to you and/or is unfriendly, move on to another company that will. Don’t settle for being treated like a number or being neglected and ignored during this crucial time.

True Vision Funding

At True Vision Funding we provide more than just a simple quote for your payments, we offer a financial assessment that’s tailored made to meet your needs. With over 80 years of combined experience True Vision Funding is a safe and useful resource when selling your structured settlement, lottery, and or casino jackpot payments.

Access YOUR cash when YOU need it!

When you or your family needs to gain access to your structured settlement payments in the form of a lump sum of cash, True Vision Funding is your go-to resource. To learn more about how True Vision Funding can help you, contact us at 301-537-7916 or send us an email at info@truevisionfunding.com