Do you find yourself wanting to scream sometimes, “Will a buyer please buy my annuity payments!!” or “Will a company, please buy my structured settlement?” Are you looking for structured settlement companies reviews that are honest? Then you’ve come to the right place!
Many people have structured settlements, usually from a personal injury claim, which they receive a monthly payment over a specified period. However, sometimes life happens, and unknown expenses, such as extensive home repairs or serious medical bills are too much for the incoming monthly checks. You don’t just want the best deal, but also you want to be treated well too. We get that.
We have compiled a list of the best-structured settlement buyers / brokers and annuity payment buying companies out there according to our research and thorough testing. We have a very specific order of criteria which we used, and every business was tested and rated on an equal scale.
However, before you jump right to the list of them, there are a few things that you should know about these companies and how to prepare for selling your structured settlement or annuity payments works. For example, you should take the time to make sure that you are working with a legitimate company before you give out any personal information or agree to work with anyone. Then, you should fill out the forms with the company. Take the time to check with a couple of different companies, though, so that you get the best payout that you can. Remember, it isn’t just the offer they give you; it understands the fees involved. Every transaction has fees. So, the best cash offer might be one that also has the highest costs, so the actual money you are given may be less than what another company could have given you. Always ask “How much money will I get?” The real payout number is crucial.
Once you fill out the paperwork the company requires, they should then send you a quote. This quote should not just be the amount of the offer, but also all fees involved. If the company is unwilling to disclose the fees, you may want to go elsewhere. Some companies will say their offer covers all costs. That’s fine, but you still want the breakdown of every fee. This way you can compare the different offers and see if there is some wiggle room with some of the fees or even with the offer they have made.
You need to prepare yourself because the offer you receive will be substantially less than the money that you are owed. Typically, lump sum payments usually end up being about 30 or 40 percent lower than taking the payments over the specified time of your settlement. If you have a structured settlement for $500,000 that is supposed to be paid over ten years, you might end up getting an offer of $200,000 or $300,000 at best. However, that’s the price that structured settlement online companies are going to pay, and based on current demand; it could be even lower. If you need the money now, rather than later, it might be worth it, though. Protect yourself by calling at least three companies to get quotes to compare.
Why are the offers much lower than what you are owed? It all is because over time the cost of living increases and the worth of a dollar today is worth more than it is in the future. For example, back in the early 80s, the average cost of daycare for a child was $162 per month. Today, according to the NACCRA, the amount is $972 a month.
All in all, it will come down to you choosing which settlement company you’re most comfortable. You might find one company that works better for you or one that offers a higher payout. The situation will vary based on each settlement, so you’ll have to shop around and compare options. Remember these debunked myths before deciding.
Now, if you are just in the beginning stages of getting your settlement done, so you aren’t looking to sell your annuity, but looking for representation to ensure you aren’t taken advantage of, we can help. If you are looking for the best pre-settlement funding companies, where you can get an advance on your soon to be made judgment, we’ve done the homework for you too. So you can rest assured that your powerful options can take you into a great deal with your 2017 selling options for your structured settlement.
Take Earl Johnson, from Pampa, Texas who was beyond confused when he wanted to sell his payments to finish his degree as he just had been laid off from his job of 22 years. “All I wanted to do was sell my settlement. Every company I called had a different answer. I got so frustrated I screamed. My wife came running into the kitchen. She thought I had a heart attack.” Earl isn’t alone. This is one of the top complaints from people looking to sell their payments. Fortunately for Earl, he found DRB Capital. They walked him through the entire process, and he got the money he needed to finish his degree.
When you sell your account, the broker or agent must give full disclosure on not just all the costs, but also on the commissions which may be paid to other agents. For example, New York State requires the Sharing of Commissions to be disclosed.
This shouldn’t be complicated. DRB Capital makes it easy and is our pick for who you should use for your structured settlement sale. Cut the confusion and the stress.
How We Rate Companies
We take many factors into consideration in how we rate the companies. These factors include but are not limited to the following:
- Number of years in business
- Number of employees
- Phone number clearly posted
- Phone call answered promptly without any/excessive transfers
- Spanish attendants available
- Knowledge level of staff
- Physical address posted and verified
- Website up-to-date
- Professional website design, navigation, etc.
- The speed/functionality of the website
- BBB Rating
- Ripoff Report complaints
- Results of searches of company name and CEO
- Customer reviews
- Reviews by former employees
While we may, or may not receive payment from the companies listed on this page, the amount in no way affects our rating and grading scale. Companies may be highly rated which we do not receive compensation.