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As I wrote yesterday, we have become an instant gratification society, which has manifested into Americans being increasingly overweight, in-debt, and lacking self-control. Cheap fast food, buy now pay later deals, and cash now for your structured settlement all target the same weakness – a lack of discipline.

Structured settlements are a form of imposed self-control, which allow plaintiffs to invest money for future needs in a safe and tax-free investment vehicle. Sometimes circumstances change, such as the downturn in the economy since 2007 causing millions of individuals to lose their jobs, which make the sale of a structured settlement necessary. Sometimes it is just a lack of disciplined spending by the former plaintiff and a lack of self-control that causes the desire to sell their structured settlement. In short, a failure to control their financial diet has caused them to need money now.

Whatever the reason for one’s desire to sell their structured settlement, there are a plethora of companies willing to buy the structured settlement in the secondary market, giving the individual back the control of their money. Can the decision to sell their structured settlement be risky for some former plaintiffs? Absolutely. Many factoring companies are only concerned with their bottom line and not the best interests of the client selling their future structured settlement payments. Consequently, it is very important that great care is taken to ensure that the factoring company isn’t just chosen off a television or internet ad, but rather is vetted against other companies based on the amount of their offer and their track record for doing what they say they are going to do. Moreover, choosing a factoring company that takes a comprehensive counseling approach to help the former plaintiff see the sale as part of their financial plan, which still needs to exhibit a modicum of discipline, is the key to achieving your client’s financial goals from the sale of their structured settlement.

Jay Fisher is co-founder of Vantage Capital Consultants, a fair purchaser of structured settlements and annuities.

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