by Structured Settlement Watchdog
An economist on our listserv recently told a story a Marketing professor at his university who bought a new washing machine and was bragging about how he picked his washer and the great deal he got. He said he went to two different appliance repair stores and asked them which brand to buy, and took their advice. Now what he didn’t consider was that the repair stores only make a profit when someone has to bring in a machine to be repaired. What good repairman is going to tell him to buy the machine he never sees in his store?
That's something good to know if you ever have to buy a new washer, but conceptually it's also good advice if you are considering selling your structured settlement payment rights.
The buyer of your structured settlement payments rights (structured settlement buyer) is conflicted in giving you advice because he/she only makes money if you sell your payments for a deep discount.
Be sure that the person you are speaking to is a licensed insurance professional or a lawyer (not working for the buyer of your structured settlement payment rights for a deep discount) to discuss the financial alternatives that may be available to you. Perhaps you won't have to sell your structured settlement payment rights to a structured settlement buyer for a deep discount.
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