I frequently receive emails about how to tell if a structured settlement company is legit or not. While this isn’t always easy to find out, there are a few key things to keep in mind while shopping around for a company to sell your structured settlement payment rights to.
Shop around. I can not stress this enough! You will get better deals by shopping around. Companies always want to beat each other’s quotes so don’t be afraid to let them know you are checking out all your options. A reputable company should already know this and understand your process. If they get upset or tell you not to talk to anyone else to get a quote, they are probably not maximizing your payments.
A good company will be up front about what they can and cannot do for you. Don’t be afraid to ask a lot of questions; always remember that it is your money and you choose what to do with it. If a company tries to pressure you or wants you to proceed without explaining the entire process, don’t move forward until you are 100% comfortable. Legit companies understand this is a big decision that cannot be taken lightly- they will always wait for you.
Always ask if the company is a broker or a direct lender! This is so important because a broker is just a middle man. Find a company that uses it’s own money rather than fund it from the outside. You’re always going to get a better deal this way.
You can also do a simple internet search for the companies you are thinking about working with. Read reviews from others who have done business with them in the past. This can give you a better idea of how the company operates and what you should expect when doing business with them.