Structured settlements are a financial product offered to individuals who have received a settlement from a personal injury lawsuit. The settlement is paid out in monthly installments over some time, rather than all at once. This can be beneficial for the recipient. It allows them to receive regular payments and avoid worrying about managing a large sum of money all at once.
Damages Awarded in Structured Settlements
Types of damages awarded in structured settlements include, but are not limited to:
- Medical bills and rehabilitation costs
- Lost wages from inability to work due to an injury or illness caused by another party’s negligence, recklessness, or other actions.
- Property damages are caused by an accident or incident involving another party, such as in auto accidents where one driver hits another vehicle.
- Pain and suffering caused by physical injury or psychological trauma.
- Wrongful death – if someone dies due to an accident caused by another person’s negligence, recklessness, or other actions.
Factors to Consider When Choosing a Settlement Company
1) The Duration the Company has been in Business
A structured settlement company that has been around for a while is more likely to be trustworthy. They have developed relationships with other companies and individuals in their industry, which can benefit you as a client. We believe Settle4Cash.com is a trustworthy structured settlement company. New companies in the business are not necessarily bad. However, you should do your research to make sure they are legitimate.
2) Company’s Track Record
Look at the company’s track record and the type of settlements they have been able to get for their clients in the past. A good company will be able to provide you with case studies and references to know what kind of success they have had in the industry. Companies with a positive track record are usually more trustworthy than those with no or negative track record.
Structured settlement companies without experience in the industry may not have access to as many resources and contacts, which means they will be less likely to find you a good deal on your annuity payments. They might also take longer because of their inexperience.
3) Company Resources
It is important to find a company with sufficient resources. It’s also important because you don’t want your money going into someone else’s pocket instead of yours. Established companies can afford to have a team of attorneys working on your case, and they will also have the financial resources to make sure you get the best settlement possible.
4) Company Reputation
Check the reputation of the structured settlement company and the type of settlements they provide to their clients. If you have any doubts about the company, you can always ask for references from other clients or read reviews online. The reputation of the structured settlement provider will determine how well they will treat you and how successful they will be in getting you the best settlement possible.
5) Company’s Fees
Find out what the company’s fees are and any upfront costs. Some companies may have a list of expenses that they charge, but most will only charge you when your case is settled before signing up with them. Also, find out if there are any hidden charges or unexpected expenses by reading the fine print in the contract.
A reputable company will be upfront about its fees, and there should be no hidden charges. Ensure you understand the fees before signing anything so that there are no surprises down the road.
6) Company’s Customer Service
Find out about the company’s customer service. Determine how long it takes for them to respond to your questions, requests, or complaints and if they can be reached by phone, email, or text message at any time of day. A good company will always make sure their clients are taken care of and provide a way to get in touch with them easily.
Poor customer service is a sign that the company might not be reputable. Ensure you are comfortable with the level of customer service provided before signing up with any structured settlement company.
It is important to keep these four factors in mind when considering a structured settlement company. They will guide you to get the best settlement for you and your loved ones. Failure to choose the best company could result in less money for you in the long run.