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 When you are entering into a situation where you might need to accept payments for a civil action or contract claim which calls for a structured settlement, it can be wise to employ the help of a structured settlement broker. For example, if you are put in the unfortunate position of having to make an insurance claim after an accident, it is vital that you have an advocate on your side who knows how structured settlements work. This is where the structured settlement broker comes in handy.

A structured settlement broker will negotiate with the other party to provide the arrangement that works best for you. Your lawyer may not be well-versed in the specifics of a structured settlement negotiation; this will mean that your structured settlement broker can lighten the load for your lawyer by providing valuable consultation. 

You also may decide that you need a lump sum of cash instead of a structured settlement. A structured settlement broker will have the relationships to negotiate for a lump sum. This might involve using third parties in order to get the best deal. A structured settlement broker will have these contacts and will be conversant in the protocols which are needed to get the best deal.

Your insurance company or other party will be doing everything in their power to work the arrangement out in their favor. However, your needs have to be considered as well. You do not have time to learn to become an expert at negotiating structured settlements. You may not even be able to handle waiting for these periodic payments. You may need to receive the money now. If your situation has resulted in fees and damages, waiting can really make your life complicated. However, careless sale of a structured settlement contract can result in a serious loss of money. This is why it is wise to employ the aid of a structured settlement broker who knows how this industry works. 

You need an advocate in your corner. You don’t want to carelessly arrange such a complex financial process. A structured settlement broker deals with these situations on a daily basis. That daily experience will ensure that you get the best deal possible. Don’t let the other party dictate the terms upon which an agreement is met. Your needs must be taken into account as well. A structured settlement broker will be in your corner.

This Financial Services article was written by George Mandala on 11/4/2009

George is a financial consultant