Why Should I Check Out A Buyer With The BBB?
The Better Business Bureau was established in 1912 for the purpose of evaluating and monitoring business. It is an unbiased entity that offers the general public the opportunity to look into a business’s background.
By checking out a prospective structured settlement buyer through the BBB you can see what, if any, complaints have been lodged against the business or discover any accommodations the company has been honored with.
The BBB also offers a business the status of “Accredited” which means it has continually adhered to the BBB’s high standards for ethical business behavior. Always, check a with the BBB before doing business with your prospective buyer.
What Is The Advantage To Only Selling Part Of My Structured Settlement?
If you sell part of your structured settlement, whether for investment purposes or to make a large purchase, you still hold the rights to future payments on the remaining balance. Many people choose to sell only part of their settlement for this very reason.
They sell a part of the settlement in order to make a down payment on a new home or to return to school, and still keep a part of the settlement intact to ensure they continue to receive a monthly payment that will help them meet all their financial obligations.
If this arrangement seems as if it’s the right one for you, contact a professional who’ll successfully guide you through the process.
Financial Calculators
For a general idea on Present Value of a future payment, click on the link below to access a calculator that will give the basic idea of the value of a future payment.
When you click on the link, a window will pop up with a calculator. You will see several options on the left. Click in the circle in front of present value.
Enter a future value, for example, 100,000.
Enter a number of years. This number represents how many years in the future this payment is due. 10 for example means the 100,000 is due in 10 years.
Enter a discount rate. Discount rates range from 6%-19% Pick 14% as an example.
Now click calculate.
In the present value box will be a number that represents the present value of your future payment based on the amount, years, and discount rate.
This calculator and the figures it displays are meant for entertainment only and are not to be construed as an offer of any kind.
Is This Structured Settlement Buyer Reputable?
There’s a well-known company, called the Better Business Bureau (BBB) that can help you determine if the partner you’re considering is one that deals in honesty. Another littler known company, the National Structured Settlements Trade Association can also point you in the right direction.
No matter whom you end up partnering with, remember, until you sign on the dotted line, the deal is not sealed. If you have any reservations about who you’re dealing with, walk away and find a partner you’re comfortable with. As the slogan says, “It’s your money.” You don’t have to deal with any given partner unless you want to.
What Are The Benefits Of Selling To Licensed And Bonded Buyers?
When you do business with a company, especially one that is buying your structured settlement, it’s extremely important to make sure they are licensed, insured and bonded. Why? Well, if for some reason the company you have chosen should go bankrupt, or close its doors, you will still receive your money.
Most states require businesses to have all three of these things before they are allowed to operate within state borders, but it’s always good to ask for proof. Entering into a business arrangement with a company who doesn’t have the securities in place is never a safe bet.