News and Tips on structured settlement transfers.

Cash

January, 2014


27
Jan 14

Sell My Annuity – Converting a Structured Settlement into Cash

If you have ever laid in bed at night, thinking to yourself, “I must sell my annuity” to convert its worth into a lump sum of cash, you are not alone. Many individuals have been awarded a structured settlement annuity for the damages or injuries incurred from an accident or negligence of another. As a result of their damages, the court may have issued an award through an annuity instead of a large sum of cash. While there may have been no other option from the court except to receive monthly payments for the amount awarded, it does not always mean it was the best solution.

The Benefits of Cash

There are times when receiving a lump sum of cash in a single payment, rather than living off a monthly annuity, would be significantly more beneficial to you, your family and your lifestyle. Luckily, there are simple ways to “sell my annuity” to third-party companies that are eager to purchase your structured settlement for a percentage of its remaining worth. Like any other type of financial product, your structured annuity has great value in the investment world.

Sell My Annuity

The quickest way to convert your structured settlement annuity into cash is to shop around. There are numerous trustworthy and reputable companies that specialize in structured settlement purchases. Finding a recommendation through a family member, colleague or friend can help narrow down the companies to obtain a quote. There are also structured settlement companies available online.

Obtain at least three quotes from structured settlement companies and consider each offer carefully. Every company utilizes their own network of investment funders that will all offer a competitive bid for the remaining worth of your structured settlement. It is imperative to never accept any offer unless you are completely satisfied with the terms.


20
Jan 14

Beneficiaries Sell Settlements to Convert Annuities into a Lump Sum of Cash

In the years past, many individuals that were awarded a payment as a result of a judgment concerning malpractice or accident would receive their money as a lump sum. However, many times the court system allows the defendant to provide a structured settlement annuity that delivers monthly payments instead of a large sum of cash. While it might be the logical solution for many individuals that need monthly income, others sell settlements as a way to generate enough funds to pay their medical bills.

Which Option Is Better?

When a claimant accepts a lump sum, from the corporation or individual that owes them money, they receive the entire amount due in a single payment. This large sum of cash can quickly pay off all medical bills, fees and expenses incurred from the accident, or medical malpractice.

Alternatively, other claimants receive a structured settlement annuity. In lieu of receiving a large amount of cash in a single payment, the lump sum is used instead to purchase a structured settlement annuity that can pay out annually, quarterly, monthly, or other scheduled way. Many times, installments can pay out for many years, and even for the remainder of the claimant’s lifespan.

The Benefits of Both Options

There are significant disadvantages and advantages to receiving a lump sum or a structured settlement annuity. Probably the biggest disadvantage to a lump sum of cash is the ability to spend it unwisely and quickly. The greatest advantage is having enough money to get back on his or her feet.

Providing scheduled payments is the biggest advantage of a structured settlement annuity. However, the payments might not be enough to cover all expenses. In times like these, many beneficiaries choose to sell settlements as a way to generate a lump sum of cash.

Picking the best option should always be based on personal circumstances. Individuals that have made the wrong decision and chose the annuity, can always sell settlements to obtain a lump sum of cash.


13
Jan 14

Reputable Settlement Buyers Buyout Annuities for Lump Sums of Cash

Before accepting any payout option from settlement buyers, it is critical to understand all the options that are available. Individuals that own structured settlements often seek ways to obtain a lump sum buyout by giving up their monthly, quarterly or annual payments. It is imperative to know that settlement buyers who purchase annuities are companies in business to generate profits from every purchase, which often results in a low offer or bid.

Once the decision has been made to accept the payout from settlement buyers, the beneficiaries can often pay for unforeseen medical expenses, ongoing living expenses or to pay down existing debt. Nearly every state in the union has strict statutes that govern how structured settlement annuities can be sold. Many of the laws allow individuals to sell their remaining payments only by proving they have met strict requirements that include:

  • Listening to Professional Advice – Many judges require that the structured settlement annuity beneficiary listen to professional advice to fully understand the details and financial terms of the buyout.
  • Time to Cool Off – Many courts require a specific amount of time to cool off in case the beneficiary changes their mind about selling the annuity.
  • Talking with the Judge – Usually, before the sale or buyout can be completed, the beneficiary will need to participate in a hearing to allow the judge to take full consideration of the beneficiary’s best interest.

It is beneficial to approach at least three different companies or settlement buyers interested in purchasing the annuity. Every company should be reputable, well-funded and established in their industry, with years of business under their belt. In some states, the seller will have to present the offer to the judge in court to receive approval for the buyout. It is always a wise decision to consult an attorney before ever selling a settlement, or agreeing to an offer.


6
Jan 14

So You Want to Sell Your Structured Settlement

No matter if you are a lottery winner, or a claimant, your money will probably be in the form of a structured settlement. This can be the best option from many angle; It helps you receive a steady and reliable income and will keep you from blowing all of your money in one whack. It can also be easier on the company paying the settlement. But, this may not be the best option for every situation. Occasionally, the need for more money that a structured payment can provide will arise, which is where selling your payments comes in.

Locating the Right Company for You

Once you have decided to sell your structured settlement, you need to locate a reputable buyer. A lot of companies will make you an offer, but before you sell, you need to carefully compare companies and research them to make the best choice for you. Accepting the first offer from the first company you find is a great way to get less than the amount you deserve for your settlement.

The Best Offer

Keep in mind that if you sell your settlement, you won’t get the full amount won or awarded to you through the payment agreement you originally settled on.  No matter which company you choose, you will only get a percentage of your original total amount. This can be acceptable to many people, however, when the need for a large, lump sum payment arises. If you are going to sell your settlement or award payments, try to find a company that will offer you the highest percentage for your settlement.

Do Some Investigating

You should always research any company you are thinking of entering an agreement with. You’ll find that not every company has your best interests at heart. Spending time now to fully look into a company’s business practices, business ratings, and customer satisfaction can help you find a trustworthy company. That way, you can be sure you won’t be taken advantage of by a predatory company.

All the Info You Need

Trying to do everything on your own may not be the best decision you can make. A settlement broker can help you by supplying a variety of quotes from many different companies, ensuring you of all the information you need in order to make the best decisions regarding your money that you can possibly make. Making well informed, and thought out decisions regarding your settlement can be the best thing you can do for your financial future.