How to Avoid the Worst When Selling Your Payments
How To Avoid The Structured Settlement Scam
In the structured settlement buying industry, as in most other industries, there are reputable buyers looking out for the best interests of their customers and there are nefarious buyers looking to profit at the expense of customers. It is these unscrupulous buyers that taint the industry as a whole and scare some would-be sellers into forgoing the opportunities selling their structured settlement could afford because they are afraid of being ‘scammed.’
While it would be irresponsible to deny that structured settlement fraud exists in the industry, there is a sure-fire way to avoid it: perform your due diligence and deal with a reputable structured settlement buyer you trust.
WHAT IS STRUCTURED SETTLEMENT FRAUD?
Structured settlement fraud can appear in many forms, with the most common being dishonest structured settlement buyers convincing customers it is in their best interest to lie to a judge about the way they intend to spend their lump sum in order to gain approval for a sale that never should have happened.
Actual cases of structured settlement fraud have ranged anywhere from simply misleading judges as to how cash payments will be spent, to actually falsifying residential documents to make it appear as though a seller lives in a state with laxer structured settlement selling laws, when in fact they do not. At the time, these customers may have felt as though those buyers were looking out for their customers. After all, they agreed to the buy structured settlement payments no one else would. But in the long-term, many victims of structured settlement fraud can find the results devastating.
HOW CAN STRUCTURED SETTLEMENT FRAUD BE AVOIDED?
The best way to avoid structured settlement fraud is to work with a structured settlement buyer with a good reputation. If the structured settlement buyer you’re working with glosses over the ‘why’ and skips right to how much they can offer you, you’re definitely dealing with a company concerned with their own interests, not yours.
| liberty mutual structured settlement |
| liberty mutual structured settlement |