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Structured settlements are designed to provide a steady stream of payments after an injury or legal settlement. Unfortunately, scammers sometimes target recipients, promising quick cash in exchange for your payments. Understanding how these scams work can help you protect your money and your future.
If you’re considering selling or transferring your structured settlement, get guidance today. Contact Us or call (888) 835-5840 to ensure your financial security.
What Is a Structured Settlement?
A structured settlement is a legal agreement that provides regular payments over time rather than a lump sum. These settlements are often used in personal injury cases, wrongful death claims, or other civil settlements. The goal is to offer financial stability for you and your family.
How Scammers Target Recipients
Scammers often reach out to structured settlement recipients with enticing offers, such as:
- “Get cash now” proposals — offering immediate lump sums in exchange for your future payments
- Fake companies or buyers — using convincing documents or online ads
- Pressure tactics — urging you to act quickly to “avoid losing money”
Victims may be persuaded to transfer their payment rights without fully understanding the financial consequences.
Red Flags to Watch For
Be alert to these warning signs:
- Offers that seem too good to be true
- High-pressure sales tactics or urgent deadlines
- Requests to share personal or banking information
- Lack of verifiable company information
- Promises of guaranteed returns or inflated payments
Tips to Avoid Scams
Consult a qualified attorney
Before making any decisions about your structured settlement, speak with a lawyer who understands these transactions.
Verify the company
Verify the legitimacy of registration, licensing, and reviews.
Read everything carefully
Don’t sign agreements without fully understanding the terms and fees involved.
Avoid high-pressure tactics
Legitimate companies will allow time for review and consultation.
Ask questions about your rights.
You can protect future payments or receive advice on safer alternatives.
Legal Protections in Florida
Florida law requires court approval for the majority of structured settlement transfers. This safeguard exists to ensure the transaction is fair and in the recipient’s best interest. Even with this protection, consulting a lawyer can prevent mistakes and protect your long-term financial stability.
If you receive an offer to sell or transfer your structured settlement, act cautiously. Speak with a trusted legal team to evaluate the offer and understand all potential consequences. Protecting your payments today can prevent financial loss tomorrow.
Safeguard your structured settlement and your future. Contact The Law Offices of Justin Rickman for guidance: Contact Us or call (888) 835-5840.