Structured Settlement Quotes Inc. expands its network of structured settlement purchasers as it welcomes its newest Certified Funding Partner, who is expected to enter its bidding marketplace on April 5th 2012.
The introduction of their latest funding partner, a US-based mid-sized institution with an outstanding reputation in the financial services and investment industry, is the result of a year-long search and assessment of no less than half a dozen financial institutions.
A key spokesperson for SSQ Structured Settlement Quotes Inc. stated, “After much careful consideration, we have ascertained that our new partner exceeds the stringent criteria we have outlined. This includes having direct access to ample funding reserves and a solid history of excellent business practices.”
One of only two open-bidding marketplaces serving the structured settlement and annuity transfer industry, SSQ Structured Settlement Quotes Inc. operates a unique marketplace model that aims to reduce the often striking discrepancy between discount rates offered by various structured settlement purchasers across the country.
Traditionally, structured settlement factoring companies have had little motivation to offer the best price quote to structured settlement payment holders. However, the recent economic crisis has spurred a demand amongst holders of payments to explore their financial options, which includes selling part or all of their settlements. This has led to increased competition between factoring companies, who are often simple brokerage firms that do not actually have the funds to pay out annuitants.
The uniqueness of the marketplace bidding system ensures that this kind of financial malfeasance and deception is avoided by creating a network of Certified Funders, all of whom must adhere consistently to an extensive list of minimum conditions. When an annuitant applies to cash in his or her payments via SSQ Structured Settlement Quotes’ platform, financial institutions that are part of their funding network submit competitive bids for each case. Evidently, the highest bidder is the successful bidder and ultimately gets chosen by the annuitant.
With this latest addition, SSQ Structured Settlement Quotes Inc. has taken a closer step to realizing its goal of providing the best alternative funding options to annuity holders seeking to receive cash for structured settlements.
About SSQ Structured Settlement Quotes Inc.:
SSQ Structured Settlement Quotes Inc. is one of only two leading open-bidding marketplaces serving the structured settlement and annuity transfer industry. In operation since 2006, it has partnered with a selection of high-quality Certified Funders who bid on structured settlements and annuities, thus providing the best pricing to structured settlement and annuity holders seeking to cash in their settlements.