News and Tips on structured settlement transfers.

Cash

July, 2011


1
Jul 11

Structured Settlement Sales: Just the Facts Ma’am

The term “structured settlement” payments cover payments you receive, usually monthly, as compensation for damages caused to you in the form of injury, crimes, or perhaps hazards at work. Often these payments are considered by those receiving them to be just a replacement for regular income. But what about situations were you find yourself in the difficult position of needing financial help yet have little or no ready access to cash? What about unforeseen emergencies? What about finding you’re behind on your mortgage? Then, your structured settlement payments can become so much more than just replacement income.

Whether you are in the midst of seriously hard times, or just want to upgrade your car, pay off your credit card bills, or send your child to college, your structured settlement could offer the relief you need. These settlements are, in essence, a deferred method of financial payment and can be very beneficial in terms of a solid and predictable monthly income. If the day has come, however, when the amount stipulated in your monthly payout is just not enough to cover your financial needs, it could be time to consider selling your structured settlement. If you are at this crossroads, there are certain crucial issues you need to consider before selling your structured settlement.

Although it was not always so, the sale of your structured settlement now requires a court in your state to review the agreement you eventually reach with a buyer, and prepare an order approving the sale; these rules are intended to protect you from being deceived or entering into a deal which is not in your best financial interest. Once you have decided to sell your structured settlement, you must do your research. Although there are many reputable companies out there, there are also some that are less than reliable. It is a good idea to call the attorney general or consumer affairs in your state to check out any prior complaints against the company you are considering. Take the time to thoroughly check out companies who purchase structured settlements, and remember that the highest bidder will not always be the best. Some companies will make a high offer in order to get you to sign a contract—later the “hidden” costs and fees come to light, leaving you with much less than you anticipated. The specific terms and conditions in purchasing structured settlement can vary widely from company to company therefore you should read the fine print thoroughly and ask questions if anything seems doubtful.

Once you have obtained multiple quotes, and have narrowed down your choices to the one you believe will can best help you, it’s time to send in copies of your structured settlement policy to the purchasing company. Once received and approved, the company will send you a disclosure document to sign which should thoroughly explain the conditions of your transaction, including offer, terms, and any other pertinent information. Once you sign the settlement agreement, the court order process will begin; be aware this process can take up to 90 days, depending on your state of residence and your insurance company. In most cases, once approved, you can receive your money fairly quickly, sometimes as soon as ten days to two weeks. Although you may need cash desperately at this moment, keep in mind that selling your structured settlement is a major financial decision that has potential consequences which will last for a very long time. Be smart, and be don’t rush into anything when negotiating a sale–the results will reflect that care.

If you need help selling your structured settlement, annuity or lottery payments,
contact us today. We are here to answer your questions and help you obtain the
highest possible price for your structured settlement sales.


1
Jul 11

Structured Settlement Sales: What Do You Mean, I Can’t Sell?!

So, you’ve found yourself in a position where due to the cost of a medical procedure, the need to take care of credit card debt, a possible mortgage foreclosure, or any of a dozen other reasons; where you have finally decided to look into selling your structured settlement payments. As you are browsing through your documents regarding your structured settlement while you begin to prepare for the sale you stumble on to some disturbing language in your settlement- an example of the language that may be contained inside your annuity policy or settlement agreement would be something like this-

“none of the periodic payments may be accelerated, deferred, increased or decreased and may not be anticipated, sold, assigned or encumbered.”

What does that mean, anyway? First of all, that would be called  “anti-assignment or anti-sale language”, and secondly it is often put in there to let you know the annuity payments cannot be sold or transferred. But, wait. It’s your money. What happens if the Settlement Agreement has anti-sale or anti-assignment language? Does that mean you can sell your money? That you can’t sell your structured settlement payments? It sure sounds like it, but no- you can still sell, it’s just become a little more difficult.

What Happens If Your Annuity Policy Includes Anti-Assignment Language?

Many annuity policies and settlement agreements usually include anti-assignment or anti-sale language. Even though this language is included within your settlement documents, you are still able to sell your future structured settlement payments!

Selling the rights to your structured settlement payments requires you to receive a court order in which a judge will review and approve the sale of the annuity payments.
Most states have a Structured Settlement Protection Act which states that a judge must approve the transfer of such payments. Since you’ll be required to go via the court system anyway to make your sale, you can explain to the judge about your situation in regards to the language of your settlement. Remember, a judge has the power to approve the sale even if anti-assignment language exists in the Settlement Agreement or Annuity Policy since his ruling will supersede any and all agreements made on the terms of your structured settlement payments. It is important to remember that a judge will only approve the sale of your payment rights if the transaction is in your best interest.

If you need help selling your structured settlement, annuity or lottery payments,
contact us today. We are here to answer your questions and help you obtain the
highest possible price for your payments.


1
Jul 11

Reasons to Sell Your Structured Settlement Today

Sometimes, annual payments from a structured settlement or  annuity just aren’t enough. When an emergency situation arises or a new  financial opportunity appears, you may need more funds each month. Many people  find that selling a structured settlement-rather than waiting for the  money to arrive at some future date-can be extremely helpful for a number of  reasons.

*   Pay Off a Debt – If the small, monthly  payments from your settlement aren’t enough to cover a large debt that has  accrued over time, you can get a large sum of money for your annuity and  completely pay off the debt. A lump sum can help you take control of your  financial future.

*   Major Purchases (Homes/Vehicles) – Whether you  are looking to purchase your first home, or have a house in desperate need of  repair, selling your structured settlement for a lump sum can provide  the money you need for a down payment on your housing situation. In addition,  it can provide you with the opportunity to purchase a reliable vehicle for your  everyday transportation needs.

*   Higher Education – As the cost of education  continues to rise-and regular annuity payments cover only the basic monthly expenses-they  may not provide enough to cover educational expenses for you or your children.  Using a lump sum to pay for your education is a solid investment for your  future.

*   Sudden Illness – Medical expenses are  tough, especially if you don’t have good health insurance. If the unforeseeable  happens and you find yourself in need of emergency or special treatment, a lump  sum can take care of you when smaller settlement payments don’t cover all of  your expenses.

*   Start a Business – The saying that you have  to spend money to make money is very true. Many small businesses fail because  they don’t have the capitol to get started. A structured settlement may pay  your monthly expenses, but you may need a larger amount of cash to fund a  successful business.

*   Investment Opportunities – Annuities are an  investment for your future. A structured settlement ensures that you will  receive those annual payments to cover your daily expenses. However, for those  who understand finances and know how to make the most of an investment  opportunity, it may be more beneficial to get a full payment and handle the  investments on your own.

*   Helping Others – If you are receiving a  structured settlement, there is a good chance that it is because of an  arrangement with a financial or insurance company after a personal injury or  other circumstance. If you or your loved ones are in really bad shape, you can  help your family by receiving a large lump sum.

Structured settlements can be a great help in some  situations, but there are times when a larger lump sum of money can make a huge  difference. Evaluate your current circumstances and see if selling your future  payments for a lump sum of money is right for you.

If you need help selling your structured settlement, annuity or lottery payments,
contact us today. We are here to answer your questions and help you obtain the
highest possible price for your payments.

Let Companies Compete to Buy your Structured Settlement!