News and Tips on structured settlement transfers.

Factoring Education

2
Jan 11

Selling Your Structured Settlement – The Process

The details of the various steps of a structured settlement factoring transaction can vary a little by state, but generally the process looks like this.

First, shop around. Decide how many payments of your settlement you want to sell and get offers. Always shop your annuities to several companies. A site like QMAP makes this process very easy. It’s important not to disclose details of competing offers to the different companies you’re comparing. Also, check the reputability of the companies you’re considering. The Better Business Bureau is a great resource; if you see lots of complaints against a prospective company, reconsider.

Once you’ve signaled your acceptance of an offer, you will have to prove that the payments you’re selling are legitimate by providing a copy of your annuity policy or other supporting documents. The seller will then send you documents that spell out the terms of their purchase for you to sign. At this point, if you haven’t already done so, it is strongly recommended that you seek legal and financial advice regarding this transaction; some states even require it. Even after you accept the offer and sign all the documents, your state will likely require you to wait out a “cooling off” period during which you can change your mind.

At this point, the transaction will have to be approved by a court. Depending on your state, you may have to appear before a judge. The judge will look at the terms of the deal, especially the discount rate used to reduce the future payments you’re selling to the lump sum you will receive. Also be prepared to substantiate the reason for selling your structured settlement, such as medical or educational expenses, legal expenses, or repayment of debt.

The court-approved transaction will be forwarded to the insurance company to document the sale of your settlement. The buyer will then advance your funds to you.

The entire process will take somewhere around 45 to 60 days, depending on the state where you live. When checking the reputability of prospective buyers, you may find complaints that the buyer took longer to process the transaction than promised, and beware that some unscrupulous companies will drag their feet. Also, at each step of the process, re-check the terms of the agreement to ensure that the seller has not changed the amount of the payment or added in any fees – this is another common complaint against buyers.

Remember that selling your settlement is a very serious decision and shouldn’t be rushed. Give serious consideration to whether this is your best option.

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.

26
Aug 10

Cashing out Structured Settlement Payments

Structured settlement payments are paid in equal installments for a specific period of time. For example, a lawsuit of $1,000,000 (with 20 years of structured payments) is $50,000 annually or 240 monthly payments of approximately $4,166.67. Sources of structured payments are: from an insurance company, a lawsuit, as a result of death (guaranteed) or living (life contingent), and tax-free income. Worker’s compensation claims do not qualify as structured payments. If an annuitant (the person receiving the structured payments) needs the money in a lump sum, then a structured settlement factoring company may purchase the future payments.

What to Know Upfront

An annuitant will receive considerably less money for receiving a lump sum. When purchasing future payments, funders (used by factoring companies) assume all the risks associated with the structured settlement and must hedge against future inflation. It should be understood that factoring companies are in business to make money. Carefully weigh the options before considering (selling or) cashing out a structured settlement. The government’s Model State Structured Settlement Protection Act requires full disclosure of all terms of a sale.

The structured settlement payments received are generally tax-free. Tax benefits could be lost by cashing out future structured payments and state and federal taxes could further reduce the lump sum amount. That is why an annuitant should fully understand the ramifications of selling future structured payments.

Do Research First

Investigate a company’s BBB track record for any company complaints. A factoring company with more than five complaints, since its inception, should be avoided. Get several quotes before deciding on a company. Do not accept the first quote received because companies will bid low to increase profit. Never disclose a previous quote to a perspective factoring company.

Certified Funders

A factoring company uses funders that it certifies and they must meet minimum conditions. Minimum conditions for certified funders: an accredited BBB business, not merely a broker but have access to its own funding, maintain consistent best price practice, have fast service, have no default on any sale transactions, be in business for three years, be a U.S. registered company, have the ability to purchase future structured settlement payments in all 50 states and its territories, and no anti-competitive practices.

How to Cash out a Structured Settlement

The structured settlement information is put out for bid to certified funders and quotes are given to the annuitant to decide on a company. The annuitant completes forms and receives payment within 8 to 12 weeks. Good factoring companies will guarantee a closing date and if they mention “interest drag”, to delay closing, find another company. Interest drag is a tactic factoring companies use to make more profit by delaying the closing date. The closing guarantee should state that any delays will be paid per diem, to the annuitant, at the time of closing. A factoring company agreeing to this proves that there is no intention of delaying the closing date to gain additional profit.

23
Aug 10

Structured Settlement Factoring FAQ

How do I know if I need to sell my structured settlement?

If you are facing an unexpected financial crisis and have no other way to raise the cash you need to avert losing your home, paying medical bills or any other emergency, selling your structured settlement is a good option.

How do I find a company to buy my structured settlement?

Quotemeaprice.com will do the legwork and provide a marketplace for you to find the buyers who are willing and able to buy your annuity or structured settlement.

How does the marketplace work?

Just like an auction, different companies will bid on your note, lottery payment, annuity or structured settlement. You will get the most cash possible. This is all done on quotemeaprice.com. You do not have the headache of being called by multiple companies, and it saves you money. It is also good for the buyer. They can go to one place and see multiple listings of annuities or structured settlements for sale. All the information they need to make a bid is there.

How can I be sure a structured settlement buying company is the right one for me?

A good company will have a Better Business Bureau record with satisfied clients. See if there are any complaints about a company on a Google search.

Will all companies give me about the same amount?

No. Some companies will give a very low quote to maximize their profit. Always get quotes from several places and don’t disclose the quotes from other companies. In this way, it will be clear which company is trying to help you and which one is looking out for itself. The more companies that know you are selling a structured settlement, the better price you will get.

How do I know what the price should be?

There are calculators available that can get you an estimate of the value of your structured settlement or annuity. Quotemeaprice.com can help you with this or you can contact your lawyer, accountant or tax person.

How long will it take to get my money?

A good company will guarantee a closing date. If they mention an interest drag to delay the closing, find another company. Expect closing in 8 to 12 weeks.

What if it takes longer than 8 to 12 weeks?

In the closing guarantee you should add that any delays will award the per diem amount be paid to you at the time of closing. If they agree it will prove that the company is not delaying your case to make a profit.

Is there any government protection for the seller?

Most states have the Model State Structured Settlement Protection Act or something similar. This Act requires a full disclosure of all the terms of the sale. This includes the discount rate, number of payments and any charges for breach of the agreement. You should insist that the buyer complies with the Act. In some cases it may be required to have independent financial or legal advice. Quotemeaprice.com can also help you with this.

3
Aug 10

Buyers will Compete to Purchase your Structured Settlement

If you have a structured settlement to sell, but you just need to find the right structured settlement buyer, then Quote Me A Price can help. Quote Me a Price is a company that was started in response to the pleas of all of the people who have structural settlements but needed the full amount in a lump sum. Essentially Quote Me A Price breaches the gap between buyers and sellers in the structured settlement industry, and gives everybody what they are looking for. By arranging a bidding area where structured settlement buyers can compete with cash offers for your structured settlement, Quote Me a Price is enabling you the financial freedom that you have always dreamed about.

A structured settlement is something like a long term financial plan that you get when you have a settlement owed to you. For instance, if you are in a car accident and your insurance (or the guilty party) pays out a huge sum of money to you, it is very likely that the money you are owed will not be paid out all at once and will instead be entered into a structured settlement program whereby small amounts of that total are released each month to you. This means that you have a continuous source of income until such time that the total amount is paid out. A Structured Settlement Buyer will actually offer you a cash sum in exchange for that settlement income.

Do not accept an offer from a single Structured Settlement Buyer without considering all of your options, and without knowing what else is available. Quote Me A Price provides a platform which buyers can use to compete against each other in order to provide you with the highest cash offer for your structured settlement. With all of the highest rated structured settlement buyers competing for your settlement, which ensures that you get the best deal out of your transaction, and you walk away with the highest cash amount that you can get for your structured settlement.

Using the Quote Me A Price service is really easy, and allows you access to the biggest names in structured settlement buying. Simply fill in the online form on the QMAP website, and provide such information like details regarding your cash flow. This request will then be sent to each Structured Settlement Buyer registered with QMAP, and they will then start making you quotes. If you have already had quotes from other companies or buyers, you can add this into the comment section on the request form and those buyers will not be contacted.

Whether you need money to pay off tuition, put a deposit down on a home or a car, or for any other reason, why not sell your structured settlement? Approach many buyers with the help of Quote Me A Price and choose the Structured Settlement Buyer that offers you the highest cash lump sum in exchange for your structured settlement. Now you can use your money effectively to get what you really need right now, instead of waiting ages for it to accumulate.

3
Aug 10

Sell Structured Settlement and Get a Lump Sum

Some serious considerations before making any decision to sell your structured settlement benefits should be considered. Every recipient ought to know that his or her money should make even more money. It is important to think of money as an asset, much the same way that a house or a piece of jewelry when sold could make a substantial profit. To get the very best return it would be a necessity to find the right buyer in order to sell. Structured settlement deals require just as much negotiations as any other valuable asset. The right buyer is the one who would be willing to pay the highest price for a particular asset.

In this case, of course, the asset would be to Sell Structured Settlement benefits that have been received. The actual reason for becoming a recipient is not of importance. However, the calculated total amount of the benefits would be of great significance to a buyer. A recipient of a compensation payout has every right to want to sell. Structure settlement imbursements are a logical means of adding to your asset. The recipient should have the confidence to know that he or she has a profitable advantage.

It could be that due to a court case hearing your compensation for damages inflicted by another party had been prearranged as regular payments. Many recipients would actually prefer to have all the money due to them at one time. This would be especially so if they had the intention to sell. Structured settlement lump sums are sought after by a variety of large and smaller investors. The first step towards finding a suitable buyer would be to get an actual figure for the lump sum. It would be advisable to approach as many buyers as possible in order to Sell Structured Settlement payouts.

Perhaps as the recipient of a settlement, you could be under the impression that in order to Sell Structured Settlement benefits many complications would be involved. Thankfully, this would not be the case if you made use of the services of a referral network called Quote Me A Price.com (www.quotemeaprice.com). This network only deals with the top placed settlement funding firms, qualified investors and factoring organizations. You could offer the full amount of your lump sum to sell. Structured settlement amounts do not have to be sold in full. To Sell Structured Settlement benefits it would be quite acceptable to place only part of the sum on the market.

Due to the use of Quote Me A Price.com you would receive a variety of quotes from interested buyers. The procedure for you to begin to Sell Structured Settlement benefits is available online. Only after receiving as many quotes as you deem appropriate should a decision be made regarding which quote to accept. To make it possible for you to make an informed choice Quote Me A Price.com would present you with all the quotes received. The highest quotes are an indication of the level of interest the buyers would have when you decide to sell. Structured settlement compensation could be extremely valuable for the seller when top investors compete for the sale.

3
Aug 10

Sell My Annuity Payments for a Lump Sum Today

Should I sell my annuity payments? If so, you’ve come to the right place. QMAP provides individuals selling annuity payments multiple cash lump sum quotes from top rated annuity buyers When selling your annuity payments, most consumers fail to realize that many options exist. As the owner of an annuity, you can select to sell all of your annuity payments, or just a portion. You also have the option of letting annuity buyers know that you instead would like to receive a certain amount of cash back.

You might have an annuity that pays you $1,500 per month, for 20 years. You can then tell buyers of annuities that you would like to receive $30,000 cash,”How many payments must I sell to receive $30,000 cash?” Annuity buyers will then let you know in order to receive $30,000 cash, you must sell X amount of years worth of payments. For a hypothetical example, an annuity buyer might tell you need to sell 3 years worth of payments, or $54,000 worth of payments to receive a lump sum of $30,000.. With this knowledge, you can then have other annuity buyers give you competitive offers on cashing out $30,000.

What do annuity buyers need to know before you can sell your annuity payments? They will need to know the insurance company, state in which you reside, exact dates and exact amounts of your payments,. If your annuity is from a structured settlement, they will in most cases also need to know what you need the money for. This is essential because selling a structured settlement requires a court order, and a judge to approve the transaction. How do you go about the process of selling your annuity payments?

First and foremost, most legal counsels will agree that when selling annuity payments, you should speak to a number of companies. You could start by calling companies one by one, explaining in detail your payments, insurance company, and how much money you are looking to cash out. This could potentially be very time consuming, and lead to numerous follow up phone calls. The Quote Me A Price.com platform has aggregated top annuity buyers, and allows consumers to post details of your annuity for funding firms to make cash offers directly into your QMAP account. This competitive marketplace will ensure that you do get top dollar for your annuity, and assist in streamlining the process. So, if you’re looking to sell your annuity payments the smartest option is to post your annuity on QMAP, and let annuity buyers fight for the rights to own your annuity.

Let Companies Compete to Buy your Structured Settlement!

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News and Tips on structured settlement transfers.

Factoring Education

Selling Your Structured Settlement – The Process

Cashing out Structured Settlement Payments

Structured Settlement Factoring FAQ

Buyers will Compete to Purchase your Structured Settlement

Sell Structured Settlement and Get a Lump Sum

Sell My Annuity Payments for a Lump Sum Today

Let Companies Compete to Buy your Structured Settlement!

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