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  Category: Articles » Finance » Article
 

How to choose the right structured settlement broker




By George Hostetler

A prospective seller of a structured settlement payment is better served utilizing the services of a structured settlement broker rather than approaching a buyer directly. The same is true for an individual who is about to come into a large sum of money via a structured settlement payment. This is because with a broker mediating a deal, it works out best for all the parties involved.


While selling a structured settlement, taking help from a broker is recommended as a broker maintains professional contacts with several underwriters and is thus in a position to offer the best deal to a seller. One should ensure that the broker is not working exclusively for a selected few underwriters as it may result in lower lump sum payments.


A seller can take help from an attorney who has had past dealings with structured settlement brokers and knows the right questions to ask. One should focus queries on the cost of the process and time involved.


The broker should be experienced enough to handle the intricacies of a structured settlement and variables affected by individual situations. This ability makes an experienced broker a valuable asset in ensuring that the settlement process takes place fast and efficiently. The brokers should also possess all the means of communication so that time is not lost and there is less paper clutter at the client's end.


A structured settlement broker can provide an indication of the costs and time involved in selling a structured settlement. The broker's inputs will be useful in deciding the right amount of payments to sell. Alternatively, when an individual is obtaining a structured settlement payment through an out-of-court settlement or lottery winnings, the broker analyses the best possible payment scenario for his client after understanding his concerns. This helps the beneficiary in availing the settlement payments in the best possible manner. The broker's efforts also involve imparting tax-planning and investment advice to his clients.


Ideally, the structured settlement broker should be registered with the Department of Justice, be registered in a state of America, and with one insurance company at least. Brokers should be insured against errors and omissions and should have a reputation for fair dealing.
 
 
About the Author
George Hostetler recommends http://www.structured-settlements-guide.com/2006/03/which_structure.html for more information on finding a structured settlement broker.

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  Some other articles by George Hostetler
Do I really want a structured settlement company?
An individual who receives a large cash award can take the services of a structured settlement company and avail the cash in a variety of ways. The settlement amount is paid by a defendant in litigation ...

How can I sell a structured settlement payment?
The first step to selling a structured settlement payment is to have an idea of the amount to be sold and finding a suitable ...

How does a structured settlement annuity work?
The process of arriving at a structured settlement is through negotiations concerning the value of the annuity and payment schedule. The process involves primarily a claimant and the life insurance company; if ...

Is selling a structured settlement a good investment?
Before one decides to sell his structured settlement for another investment opportunity; it is worthwhile to consider the pros and cons of such an action. The most important advantages ...

The lowdown on getting cash for a structured settlement payment
It is possible for recipients of a structured settlement payment to sell a part of the amount for a lump sum that ...

Why a structured settlement payment is so popular
Structured settlement payments are becoming popular because of the advantages they offer over other forms of payments and investment options. The ...

  
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