When people are selling their structured settlements, there are some common mistakes that they make. These are explained below, and will help to keep you from making them.
1. Not knowing what they need financially
Its a common misconception that when you sell your settlement, you have to sell all of it. This isnt true. You can sell just part of it, and still have money coming in each month.
2. Choosing the buyer that offers the most
The people who offer the most amount of money arent always the best choice. They may offer the most just to get the contract, and then start making changes. Be sure to look into all the possibilities and check the buyers before you choose them.
3. Believing in a quick closing
No matter what the buyer says, dont believe that the closing is going to be fast. If you plan your finances around that, you are going to find yourself in financial trouble. Allow for at least a month for closing to happen.
When you have safeguarded yourself against making these mistakes, you will find that the process will be a lot less stressful and that things will go smoother. Depending on what type of settlement you have...
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