5 Useful Tips How to Choose a Funding Company

Sooner or later, we all may face some life circumstances requiring immediate financial assistance. Has this point already come? Are you thinking of selling your structured settlement or annuity for a cash advance now? Indeed, this is a quite popular option to make cash quickly, especially for those suffering from temporary or permanent disability and therefore having almost no chance to receive a bank loan.

However, as any other financial transaction, structured settlement and annuity sale can be a rather complicated and challenging process requiring a thorough consideration of all related aspects, but, first of all, professional and knowledgeable assistance of a funding company. Obviously, overall efficiency and optimal results of this transaction (which is actually getting the maximum amount of cash now for your future structured settlement payouts) depends mostly on the competency and experience of a settlement funder. And as you may guess, not all funders have the same cash payout options, terms and fees. That’s why, it’s crucial that you take your time to choose a reliable funding company that you can trust. Below I’m going to provide some tips on what aspects and criteria your choice should be based on.

1. The Company’s Background

The first thing that you will have to pay attention to when choosing a settlement buyer is its background. Frankly speaking, there are plenty of new funding companies emerging on the market every single day. As you will surely agree, you can hardly expect from a company with no or little experience to accomplish your transaction smoothly and successfully and provide you with the adequate amount of cash at hand.

That’s why, it’s crucial to opt for a funder with the highest expertise level and a considerable experience of operating on the asset-backed market. Established companies apply the most proven and reliable tactics, financial and legal instruments. Make sure that they work as a direct funder, so that you don’t have to deal with a chain of brokers that may cut off a significant portion of your monetary reward.

2. The Credibility Level

Don’t hesitate to ask for testimonials. A reputable and trustworthy funding company is always ready to provide you with sufficient references, where its previous clients share their experience of partnering with the company and using their services to cash out structured settlements or annuities. Looking through reviews on third-party independent websites, forums, blogs, etc. is even a much better idea – you can find out the opinion of both field experts and settlement holders. And of course, don’t forget to check the client list – it is definitely a significant index of the company’s credibility level.

3. Variety and Flexibility of Cash Payout Options

Once you have chosen some reputable and trustworthy companies, you can proceed to checking their area of expertise, or in other words, making sure that they handle various financial agreements, including your specific type of settlement or lawsuit case. Established funding companies typically feature a comprehensive selection of cash payout options to meet various financial goals, particularly short-term and long-term ones.

In such a way, it’s essential that you’re provided with the ultimate flexibility to decide the amount you’re going to cash out. Thus, you can choose getting a full advance on your structured settlement, sell a certain part of it or just a portion of every your future payment. The last two options allow to get a sum of cash that is sufficient to handle all your current requirements and still keep receiving steady monthly income.

Now, it’s high time to contact a company’s representative for the initial consultation and quote (note, they should be non-obligation and totally free). Since every case is unique, it should be explored and analyzed thoroughly to get an ideal funding option guaranteeing you maximum cash. Such a client-focused approach will surely contribute to your ultimate satisfaction with the final result.

4. Full Customer Support

In fact, comprehensive and responsive customer assistance is an indicator of reliability of any business or company regardless of what market niche it belongs to. An established funding company will provide you with the fullest possible support on all stages of your transaction process as well as help you in obtaining any required documents.

5. Your Attorney Recommendations

If you still have any doubts regarding your funding company choice or you find it challenging to make a final decision among two or more funders, you can always consult your attorney for an expert recommendation.

Finally, as a plaintiff, you should always remember that you are eligible to ask a funding company any questions concerning their services, policies, rates, etc. during the entire process. The more informed you are, the higher chances you have to make the right decision. If you would like to share some other useful tips, please use the comment box below.

Author’s Bio

Post by Derek Wrend – a manager at OzarkFunding, a direct funding company providing cash for structured settlement payments.