Individuals selling settlements are often ripped off by predatory buyers. A new website gives free guidance to help sellers get higher lump sums.
New York, NY -- (SBWIRE) -- 09/21/2012 -- People looking to sell their structured insurance settlements often lose more than 40% of its value in the sale due to predatory tactics, say experts at a newly-launched website SellAStructuredInsuranceSettlement.com. According to the experts at the website, people selling their settlements are often in dire situations, such as facing mounting medical bills or living expenses. Settlement buyers, also called factoring companies, know this and take advantage of settlement winners by offering unfairly-low lump sum amounts in exchange for all future settlement payments.
SellAstructuredInsuranceSettlement.com aims to help people get a fair price when selling their settlements. The website creators do stress, however, that no settlement sellers are ever going to get the full value of their settlement. Not only are the factoring companies out to make a profit, but the companies also must compensate for the costs of inflation. The adjusted value of the settlement based on inflation is referred to as “discount rate.”
Selling a structured settlement award is often a difficult process. In most cases, sellers are required to seek financial or legal counsel and appear in court to have the settlement approved. It is not uncommon for sellers to have their transactions denied, which can be a major blow for those in need of the lump sum amount quickly. These procedures are burdensome but are in place to protect sellers from predatory buyers. However, it is ultimately up to the sellers to make sure they are entering into a fair deal.
For tips on how to get the biggest lump sum and free guidance through the selling process, visit SellAStructuredInsuranceSettlement.com.
SellAStructuredInsuranceSettlement.com is an online resource center for individuals who want to sell structured settlements or other annuities.
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