20 Nov App to Release In 2016 That Will Give Users Quotes for Cash for Structured Settlement Payments
Selling a structured settlement or annuity can seem like an intimidating and daunting task. First, you have to decide if getting cash for structured settlement payments is in your best interest, then you have to try and track down the best possible deal. A new app set to release in early 2016 could help take some of the burden off potential structured settlement annuity sellers, according to the technology news site Virtual-Strategy.com.
The application, known only as the StarStarCash app right now after the company that’s releasing it, will allow users to receive automated quotes that will tell them how much cash for structured settlement payments they can expect. This technology is the first of its kind in the industry.
Estimates suggest that the vast majority of cases settle outside of court (80 to 92%). While it’s unclear if the app will work only exclusively for personal injury settlements, or other type of settlements and annuities as well, it will provide a means to handle other things like personal loans and credit cards.
“We see this as a game changer for the structured settlement industry, while providing added transparency for the consumer,” said Fred Greene, Director of Marketing for Star Star Cash.
Once released, the app will be available for free download through the Apple Store and Google Play.
This new tool could play a big part in changing the momentum in an industry that’s been largely criticized in the media recently by providing more convenient and accessible transparency.
Obviously, their hope is that people will end up selling their settlements to them, but it can be beneficial to people shopping rates to get cash for structured settlement payments. It has the potential to make it much easier for consumers to compare rates and determine whether or not they’re being offered a good deal.
It’s just an estimate app that shouldn’t be taken as Gospel, but it is good news for consumers, considering medical malpractice lawsuits paid out $3.6 billion alone in 2013 and the average employee lawsuit pays out $150,000. The more information one has in these situations the better.