FAQ'S FOR SELLING YOU STRUCTURED SETTLEMENT
How do The Negotiator Guys make money and get paid?
If you are currently signed up with a company, we generally charge a small percentage of ONLY the ADDITIONAL money we negotiate for you. If you are not yet signed with a company, we will work with you on a fair price that we agree on before we begin to negotiate your deal from scratch. You will not pay us until AFTER you are approved and funded by your purchasing company. If you are denied or decide to not sell payments, no fees are owed to us. We only get paid if you get paid. Call us for more details and if you have specific questions.
If I am signed up with a company and waiting court, will this delay or change anything?
NO! We will negotiate a higher offer for you before your scheduled court date. You stick with the same purchasing company you are currently signed up with. Nothing changes, except the increased amount of money you receive. If the purchasing company decides to hold back from you, then, you decide what is in your best interest in regard to the amount of money, the time frame, and the urgency. We have had clients decide to cancel with their current purchasing company, but everyone has different circumstances. Remember, desperation is something that many of these purchasing companies will feed on. We will work with you on a strategy to get this done quickly if you do switch companies.
How long will it take to re-negotiate my offer?
In many cases, a phone call or 2. We will discuss our strategy with you and your expectations for time in order to make sure everything gets done, when you need it done. We have access to the same calculation systems and are very experienced with the margins/rates that all of these purchasing companies use to price your deal. We know all the tricks but they won’t work if you have us on your side.
Isn't the Judge supposed to make sure I get the maximum amount of money for my payments?
The general role of the Judge in these cases is to make sure these transactions are in your best interest. Like Attorneys/IPA's, Judges are there to make sure you understand the terms and financials of the transaction. They do not negotiate a better deal for you in almost all cases. Unfortunately, a large majority of approvals/denials are only based on your character, your needs, and your overall competency- NOT if you are getting a "good deal". This is another reason why sellers get taken advantage of by purchasing companies. Most judges don't know if you are getting short-changed.
I already had an Attorney/IPA review and sign off on my deal, why do I need The Negotiator Guys?
Most Attorney's/IPA's are there to only review the information with you and make sure that you understand what you are doing. They can answer questions regarding legal terms of the contract, although they cannot look at your numbers and know if your deal is actually "fair" unless they have industry knowledge, which almost all do not. Have your attorney call us or call us together on a conference call. Do not sign up with an attorney or IPA that is recommended to you by a purchasing/factoring company. Do your own independent research and only after ensuring you receive the best offer possible.
Why does my current company tell me not to talk with anyone else during this transaction?
Simple. They do not want to lose your deal to another purchasing company and also to not have to increase their offer for you before court. Be careful who you are trusting during this process.
Why should I call The Negotiator Guys and not just switch company's?
Switching company’s mid transaction rarely works out very well for you, for a few reasons. Aside from delaying the transfer and having to re-file, having multiple pending cases can be troublesome for you with the courts, your insurance company, your time deadlines, and the actual amount you end up receiving. Also, all of these companies may have a different sales pitch, but they all work very similar when it comes to the maximum offer you could receive. In many cases, the second company will only offer you enough extra money in order to sell you on canceling with the first company, but that in no way means that you have “maxed out” your offer to the level it should be. You are much better off having The Negotiator Guys review your deal, and if you are being short changed, we can negotiate with the original company you signed up with and at least give them the opportunity to increase your offer prior to you switching companies. Remember, the only way TNG get paid is after you are approved and funded. So, we want you at court as fast as possible, with the company you are signed up with, whenever possible.
Do you ever recommend switching company's?
Not usually, however, there are cases where it might make sense. For example, there are a few large companies that can out-bid the smaller/mid-size companies in certain cases. We will explain the truth to you and give you your options, but it will be your decision. Switching companies is NOT worth it usually. Plus, if you switch purchasing companies, you are going to have delays no matter what any purchasing company tells you. But remember, if you are desperate or have a deadline for receiving the money, purchasing companies will use that as leverage against you. Leaving a few thousand dollars on the table is also not necessarily a big deal if you have deadlines and we would never tell you to change companies mid transfer. With that said, if you are being short changed for tens of thousands or hundreds of thousands of dollars and the purchasing company you are signed up with is playing hard ball, you have all the power here. If you are willing to walk away, that will only increase your negotiation power. Ultimately, we will provide you with the facts and you can make the decision. Either way, you will probably end up with more money than the highest offer you have on the table by having TNG on your team.
My purchasing company representative tells me my offer may go up/increase but we won’t know until closer to my court date. Is this true?
This is all part of the game for many of these purchasing companies and is a common strategy used to “keep you on the hook”. Be careful building friendships with your sales rep from purchasing companies. They are trained to build a relationship and build trust with you, in order to short change you as much as possible. Sometimes for hundreds of thousands of dollars. This is how these companies make money, no matter what you are told. Do not let your guard down. All of the talk about “speaking to the investor” about “raising your offer”, or “it depends on the federal rate”, and/or your rep from the purchasing company saying they are “working on it”... is probably false. They are working on you and trying to keep you at the lowest purchase price possible, no matter what they say. The only way the offer will go up is if you negotiate effectively. If you are being short changed for a large sum of money, your company may increase your offer by a few thousand dollars, just to make it look like they are working on getting you more money. This deceptive practice is very common. So be careful. The Negotiator Guys will be able to tell you exactly how much money you should be receiving. Our services will always more than pay for itself or you owe us nothing.
My factoring/purchasing company already significantly increased my offer and/or I shopped my deal to multiple companies before signing any paper work. Should I still have The Negotiator Guys review my deal?
Absolutely. For starters, it can’t ever hurt you to have us review your deal. Also, even if you have shopped your deal to other companies before or after signing your initial paperwork, you should always have us review your deal. Sometimes these purchasing companies will work together in order to make you think you’ve received a great deal, including splitting the profits they make. You never know. Worst case, we review your deal and tell you that you did a great job of negotiating on your own. If your offer is already very good, we will not waste your time or our time. At least you have peace of mind. Best case, we can help you get your offer even higher before you go before the Judge. We will be able to tell you within minutes and before you sign up to work with us.
How much information do you need to review my offer?
Your name, the payments you are selling, the exact dates they are due, and the name of your insurance company. That’s it. We don’t need you to answer 50 million questions and you will never be signing any new court documents in order to work with us.
Will the Judge be upset that my offer has increased while waiting for my court date?
The higher your offer is and the more you negotiated, the better chance you have of getting approved. In all cases. The court process is supposed to protect your best interests, which is why it’s required. We have seen multiple cases where Judges were going to deny a deal but ended up changing their mind at the hearing after learning the offer had increased. Judges want you to get the best deal possible. Unfortunately, most Judges do not understand the rates/financial terms of how these companies price deals. By effectively negotiating, this shows the Judge that you are taking your transaction seriously and helping yourself. Judges will usually appreciate this and it should help them look more favorably towards approving you.
I already took an advance/gifts from the company I am signed up with, will re-negotiating effect that at all?
No. Whatever you were provided in terms of advances, bonus’s, rewards, gifts, ect… will not be affected. Your representative may be a little upset that his commission just went down, sometimes by 10’s of thousands of dollars, but this is your money! We have been very successful at negotiating additional advances as well, though we do not recommend taking any if you can avoid it. You owe it to yourself to get whatever you can if you have made the decision to sell payments. Do not settle, but also do not take unnecessary gifts or bonuses without first understanding if your offer is where it should be.
I was offered a trip and new cell phone while I wait for my court date, why?
If either of these things was offered to you, call us IMMEDIATELY. If you have been offered a cruise, a trip, a hotel, a new phone and/or told to stay away from home, you are probably leaving a lot of money on the table. Again, we are not here to decide if this deal is in your best interest. We are here to make sure that you walk into court with the highest offer possible. If any of the above-mentioned things have happened to you while you are awaiting your court date, you need to give The Negotiator Guys a call because you are probably being short changed for a lot of money. Paying $5,000.00 to send you on a cruise for a few weeks and $500.00 for a new phone are small potatoes in comparison to the tens/hundreds of thousands of dollars your purchasing company could be profiting from you.
Is there any possibility that my purchasing company will not increase their offer, even if The Negotiator Guys believes they should?
If you are willing to hold your ground, trust us, and work together in order to make it happen, this should never be an issue. The purchasing company will still always make a profit at the end of the day, it’s just that when The Negotiator Guys are involved they are making the minimal. The purchasing companies would rather make minimum profit than no profit at all, hence why it would be very rare for a company not to increase their offer. The closer you are to court, the more leverage YOU HAVE. You have all the power, not the purchasing companies. They want you at court as much as you want to be at court. Remember, you hold ALL of the power aside from the Judge, no matter what you are made to believe. This is your structured settlement which you receive for some form of injury or horrific event that has affected your life. Do not sell away your payment rights without making sure you get every dollar you deserve.
How are many of these purchasing companies getting away with lying, false advertising, sending fake gift cards/checks in the mail, sending “audit” letters, and all of their deceptive behaviors? Shouldn’t they be getting in trouble?
In many cases, yes many of them should be. There are a growing number of lawsuits and legislative crack downs on the horizon. If you feel that you have been done wrong in the past by one of these companies, call us. We are not attorneys and we are not legally qualified to tell you if laws were broken. However, we are happy to connect you with attorneys and other resources with whom we have built relationships with. Help is available in many cases. One of the biggest issues is that the purchasing of structured settlements is not a very regulated industry where employees need a license, such as other industries like lawyers, financial advisors, realtors, and insurance brokers. Without that type of regulation in place, these purchasing companies can get away with a lot of things that do not work in other industries. So be very careful. Companies contacting you claiming to be doing an “audit on your last transaction”, “having new options available rather than selling payments”, and “handling policies for your insurance companies”, are trying to sound more trustworthy even though these are deceptive sales pitches. You will also have companies calling you claiming to be backed by hedge funds, investors, and many times the information provided to you is not true. Many companies claim to be “direct funders” and are not. Some say that they are buying your payments directly, which is also not true in almost all cases. Purchasing companies do not even actually “purchase” your future payments. In fact, they generally “broker” your deal with an investment firm or line of credit who becomes the actual party receiving your future payments. The purchasing companies receive a dollar amount from the investing firm or credit line, then the purchasing company gives you an offer. That offer can be much much less than the amount you could be receiving. A lot of the smaller purchasing companies actually fund your deal via the larger purchasing companies, so you then are paying for an extra middle-man. Be aware of fake checks in the mail, gift offers, and cash advances pushed in your face. These are all methods that are used to convince you to sell payments, and in many cases, for less money than you could have received. Do not get distracted or misguided by all of the different sales pitches that are attempted on you. Do your homework.
I am already working with a financial adviser from my bank, should they be the one to help me with this?
In many cases the purchasing company not only offers to help you choose an adviser, they gave you the idea to cash out money in order to invest as a way of convincing you to do a deal. This is your decision and having a bank adviser is not a bad thing. Bank Advisers are licensed financial professionals, which your purchasing company is not. However, in most of these cases financial advisers are not truly familiar with the rates and pricing techniques of these companies. They nearly become a pawn and distraction while you are short-changed thousands. We recommend a conference call with TNG and your financial adviser so they will then understand the full scope of what is going on.
I've had companies tell me to "restructure" or "reset" my structured settlement by investing or working through a financial adviser. Is this factual?
One of the most reckless sales pitches used is convincing you to sell off your entire policy or very large portion of it. Some companies call this plan, “restructuring the policy”, or “resetting your policy to work for you” which is completely false. They are not restructuring any insurance policy other than you going through the court process in order to transfer payments for cash up front. No matter how its explained to you, this process is always a transfer of your payment rights of your structured settlement, to someone else. Same as any other transaction you may have done before with your structured settlement. Many of these purchasing companies try convincing you that your insurance company and original settlement attorneys were greedy for setting a policy up over time. They may try to coerce you into cashing out the whole annuity to invest with a financial advisor, in many cases at a major bank. These companies call local financial advisors at major banks to convince them that you are about to get a large sum of money and needs advice. They never discuss whether or not you are receiving a good deal. In our experience, the advisors never even asked about the terms of your deal but focused their efforts on how to design a plan that makes sense for your future, based on the amount of your current offer. The factoring companies tell the advisor they’ve come up with a solution that would allow you to not blow through your new big lump sum. It all sounds great, but the advisers can unknowingly become a part of the problem. They become a pawn of the purchasing companies’ efforts to cash out as much of your policy and gain as much profit as possible, without the advisor knowing it. While you may be getting short changed $150,000.00 for example, the advisor is eager for your business and doesn’t think about if the terms of the transfer are good. It probably doesn’t even cross their mind and the adviser wouldn’t know the industry anyway. So, the adviser may sell you on an investment plan without understanding what is really happening. Many companies also use “investing in real estate” or a “new business” to guide you down this path. They throw cash advances in your face and build “friendships” with you. They might send you on cruises or put you in a hotel as either a reward or to “protect your privacy until court.” They might try to buy you a new phone to hide you out from the other “predatory companies that might try to mess things up for you if you talk to them”, especially when moving you from one state to another, which companies will try if you have been denied in your real county court. Scare Tactics and fear. Whatever it takes, because it’s all a distraction to build trust, hide you out, short change you, and get you approved by a judge. If you already have a true licensed financial advisor, have them call us or call us together. Once the advisor understands what’s happening, they can work with us to ensure you receive as much money as possible. Again, this is your decision and you hold all of the power. Your advisor is also there to protect your best interests and the more money you receive, the more they have to work with on your behalf. They will be on your side. You are their future client. Do not let your structured settlement purchasing company dictate your terms. They are the other party on your court case for a reason and there is a reason so many companies reach out to you every day. If you are not careful, you could be short changed for buckets of money.
The Negotiator Guys are here to make sure that you receive every dollar you deserve, without unnecessary court delays, without switching companies, and without you being taken advantage of during the process. We will never convince you to sell payments and will never try and stop you from selling payments. We will provide you with the truth and you can decide what to do. If you decide to go through with the transaction, we will work with you to ensure you receive the most money possible, every time, no matter what purchasing company you choose to work with.