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Buy Structured Settlements – When You Should Buy?

There is much to bear in mind when first learning how to buy structured settlements. Chief among them is learning how to buy structured settlements based on your unique needs – be it your financial situation, where you reside, what you hope to achieve in the purchase and more.

Here are just a few quick rules of thumb on how to buy structured settlements. For starters, make sure your broker has a good reputation. After that, when buying a structured settlement, you’ll want to make sure the financing company you use is part of the National Structured Settlements Trade Association. Once you’ve narrowed down your choices, the next most important thing is to find the best rate. Brokers worth their weight should be able to offer a free quote, no questions asked.

Those that insist on charging for a quote should be avoided. Another great resource for learning how to buy structured settlements is an attorney. If nothing else, an attorney can help draw up the agreement between you and the broker. Bottom line, they can help to protect you from bad deals, sketchy deals, sketchy salesmen type brokers and legal violations – all before they come home to roost.

Finally, here are just a few more pieces of advice to weigh in terms of how to buy structured settlements. To begin with, make sure to ask any vendor you work with, be it a lawyer or a broker, for a list of references so that you can check into how they do business for yourself. After that, make sure your broker has insurance and that they are both licensed and bonded. Too often, one hears a nightmare story where a seemingly reputable broker literally cut and run with all of their hard-earned cash, never to be heard from again. Plus, when you go with a broker that is insured, you’ll get your money even if the broker goes bust. Keep in mine the issues of structured settlement loan too.

You should also take some time out to talk about how to buy structured settlements with your accountant. Some states actually require that you do so by law. The fact of the matter is, when it comes to major cash cows like these, it’s really smart to talk to a tax advisor or some sort of an authority, like a judge, in your tax obligations before you buy a structured settlement. You might even need to obtain prior legal approval for the purchase of said structured settlement as well. If you don’t get the approval, don’t be surprised if you receive a bill or a tax on top of what you already owe before too long.


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