Is Selling Your Structured Settlement the Right Thing to Do?

You may be wondering whether or not you should sell your structured settlement annuity. There is no clear cut answer to this question, as the benefits and drawbacks are different for everyone. The first thing you should do when considering selling your structured settlement annuity is to discuss the decision at length with a trustworthy financial professional who knows a lot about the subject. Another thing you'll need to consider is how old your settlement is. If you just received it, you should take some time to think before deciding anything. Not only that, but you'll find it difficult to get a good sale price on an annuity that still has decades to go.

You'll also want to think very long and hard about your own motives. Do you have a legitimate need for a lump sum of money? Or do you just want the lump sum so you can spend it on things you want? Having a genuine need for a large sum of money is one thing. You might decide you want to invest the money, buy a house, or pay off debt. But if you don't have a good reason for wanting the money, you should definitely reconsider selling. After all, when you sell your structured settlement annuity, you are basically handing over some of your money to a buyer looking to make a profit.

If you decide that selling your structured settlement is the best thing to do, it is your right to do so as long as you are over the age of 18. You will want to think about your asking price. How much of your money are you willing to sacrifice for that lump sum payment? You will want to come up with a maximum amount and stick to it to avoid getting scammed. Even though you're sacrificing money, getting a lump sum can be to your best interest especially if you invest the funds wisely. A good investment could gain you more than you would have received from your structured settlement. Of course, a bad investment can have disastrous consequences.

The decision to sell or not to sell is one that will be left up to you. You should always consult with a tax professional and trusted financial professional who can give you an unbiased opinion on the matter. The people close to you, such as family and friends, will likely have something to say as well. Don't let them influence you. Rather, weigh all the pros and cons after getting as much information as you can on the subject before deciding what is right for you.

Copyright 2007 Jim Sterling - All Rights Reserved

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By Business Wire 01/30/12 - 04:07 PM EST Imperial Holdings, Inc. (NYSE: IFT) ("Imperial"), a specialty finance company with a focus on providing liquidity solutions on individual life insurance policies and purchasing structured settlement payments, .

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New York Attorney General Eric Schneiderman expressed confidence Friday that his main concern with a pending settlement of alleged foreclosure abuses by U.S. banks would be resolved, but he didn't commit to participating in an agreement...


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