Do you need help financing your structured settlement? Although this may seem like a complicated process, it’s easier than you think! Here are four tips you can start using today to work on financing your settlement today, beginning with reviewing your structured payments.
Review Your Structured Settlement
It’s best first to figure out how to finance your structured settlement is to review it yourself. Even if you aren’t finance-savvy, understanding how much is in your settlement and figuring out ideal payments can help you get the best financing. Once you’ve thoroughly reviewed your settlement today, you should meet with a lawyer to work over some options.
Speak to Your Lawyer
Although you’ll also need to consider working with a buyer or a local bank, a lawyer’s office is a good first stop. A legal team can further review your structured settlement to determine what the best financing would be for you. They’ll also make sure there are no “holes” in your settlement plan going forward. Hiring a lawyer might seem like going over the top, but it’s best to have a legal team backing you, rather than comparing financing options on your own.
Consider Working With a Buyer
If you don’t want all the stress that accompanies financing your structured settlement, you should consider working with a buyer. This is a person that will pay for your structured settlement before or after you finance it. They’ll offer you a lump sum for the settlement, which can ease plenty of stress off your plate. However, you should do plenty of research to find a reputable buyer to work with. You don’t want to sell off your structured settlement to just anyone, that kind of risk can be easily avoidable.
Meet with a Local Bank
If you still want to finance your structured settlement, you should meet with a local bank. They can help you (with legal support in tow) find the best finance payment plan. Once you approve a plan, your bank can have you complete paperwork to move forward in this process. However, you might need to visit a few banks before finding the best plan that works for you.
There are a few tips to consider when seeking structured settlement financing, from considering working with a buyer to hiring a legal team for support. Although this may seem like a complicated process, it will be a lot easier with this guide in hand. Get started today by reviewing your current settlement and speak to a lawyer you trust.