by Structured Settlement Watchdog
In the immortal words of Aretha Franklin "You better think (think) think about what you're trying to do to me!"
While selling your structured settlement is always an option, if you have a reason and a court in the county in which you reside approves, realize that you are getting a pennies on the dollar deal. In other words you better think (think)!
Here is what one structured settlement factoring company is advertising at the time of publication:
"There were shared reactions of side eyes and eyebrow raises when U.S. government officials announced that a second stimulus check would be distributed to the public…a check in the amount of $600. The move aimed to provide U.S. citizens a financial reprieve during the COVID-19 pandemic. But many people believed that this “follow up” stimulus check was a far cry from the first stimulus payment of $1,200. People experiencing true financial hardship wouldn’t be able to scratch the surface of their debts with a meager $600 bucks. If you share this sentiment, but also have a structured settlement, listen up: Selling all or some structured settlement payments can supplement the $600 stimulus and provide real relief as the COVID-19 pandemic rages on."
The approach is simply an attempt to prey on people's emotions to induce them to make a potentially unwise decision without any thought as to the aftermath. Some companies do the same thing with holiday gifting.
There is no way any structured settlement factoring company is going to allow you to sell a minimal amount of your payments to make up for the $600 stimulus differential. You will be forced to sell more because at the very least there are (1) attorney fees (2) court filing fees (3) insurer fees and other costs associated with the transfer of structured settlement payment rights. As Earl Nesbitt, a Texas lawyer and former Counsel to the National Association of Settlement Purchasers once said on Legal Broadcast Network "it's not like you're going to the ATM"
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