News and Tips on structured settlement transfers.

Marketplace

3
Mar 14

Is Legal Assistance Required to Sell Annuity Payments?

You won’t need a lawyer to sell your car, nor will you need one to sell a radio or a camera. But the sale of something like annuities raises issues that have no easy answers. Do you really need a legal representation in order to sell your annuities? The answer to that is fuzzy at best, but you should learn a little about the process and the need for experienced and knowledgeable legal counsel when deciding to sell annuity payments.

Making the Case for Counsel

There are currently only eight states in America where legal counsel is required for people who are considering the sale of annuity payments: Alaska, Delaware, Louisiana, Maine, Maryland, Minnesota, North Carolina and Ohio. While only these states require competent legal help for those attempting to sell annuities, all other states heavily recommend it. The advice you should seek out in order to sell your annuity payments will cover tax, legal and financial questions, and a lawyer with experience in these matters can be of great help to anyone attempting to transfer payments.

A Wise Choice for You

Although only a handful of states make you seek advice from a competent adviser, it’s really not a bad idea to speak with an attorney or a financial planner before making the decision to sell annuity payments. A financial planner can guide you toward making the right financial decision, and a lawyer can help you ascertain whether or not your annuity payments can be legally sold or transferred, as there are cases where sales of annuity payments are prohibited, including but not limited to inheritances or where sale is blocked by a trust. In any case, it is always a good idea to seek out counsel from a competent lawyer or financial planner if such counsel is not required by law in your area.

Seek Out Your Own Legal Advice

You may consider using the attorney working for the transfer company you’ve decided to sell your payments to. This might seem like a good idea to you, because you assume you both have the same goals, though this couldn’t be further from the truth. If you decide to seek counsel, then hire a lawyer or adviser of your own choosing. The attorney working for the transfer company has their best interests in mind, which don’t necessarily coincide with your own.

24
Feb 14

Finding an Annuity Purchaser Online

Structured payments have been around for quite a while, and selling these payments and annuities has become commonplace today. Selling these settlements and annuities can be a viable option for anyone who has a financial need greater than a structured payment can satisfy. Searching for a buyer online is one choice sellers often make, but it isn’t as easy and straightforward as it might seem. Before you start searching the internet for someone to buy your settlement, there are a few things you should understand.

Get the Facts

You should do your research and gather all the information you can before you go online to start your search. For example, take the information spouted during late-night infomercials with a grain of salt. The procedure for selling your payments or annuities is a little more complicated than simply making a phone call. The process is long and time consuming, and will depend on a judge’s decision before the sale can move forward.

Ask for Assistance

Whenever you are thinking of starting a search for a buyer, help from a competent and qualified person can be a great decision. Don’t look to the company offering to buy your settlement for help, though. Instead, choose a settlement broker, who can help you find the offer that is best for you, not the buyer. They can help you get the offers you want quickly, and know who the best buyers are in order to find you the best deal for your situation. Of course, you can do this by yourself, but you’ll lose the benefit of an experienced and intelligent assistant with knowledge of such matters.

Research your Broker

Never enter into a partnership with a broker that you haven’t check out thoroughly. You want help from someone with the background and education to guide you through this tricky process. Choose the broker with a history of providing quality care and service to their clients. Check with the Better Business Bureau to be certain your brokers have your best interest at heart, and not that of the company offering to buy your settlement. A broker is there to help both sides, but you need to be sure to protect yourself from any unscrupulous dealings.

There are many things to consider when deciding to look online for a buyer for your structured payments and annuities, but a competent and qualified broker can ease the stresses involved and make the process much smoother.

17
Feb 14

Finding the Structured Settlement Company that is Right for You

Structured settlement payments, provide a reliable, stable source of income for the long term financial future of people who receive them through winnings or settlements. Structured payments are better than lump sums for many reasons. Structured payments, for example, prevent people from spending all of their money at once, leaving them with a steady income paid over a set period of time. Even so, there could be situations that can occur where having a larger sum of money is necessary. A competent structured settlement company can be your best bet when these occasions arise.

Company Longevity

A good place to start when looking for a settlement company is to check how long they have been around. A company with a stable history behind it is always a solid choice, though there’s nothing wrong with working with a new company. However, newer companies won’t have the solid reputations and history of quality service that established companies will have. A newer company might be a solid, trustworthy business just getting started on the market. Or, they can close and disappear tomorrow.

Quality Service

You also need to take into consideration a company’s reputation for dependable service. Everyone wants to choose the best, most reputable company, but determining a company’s reputation can be a challenging task. Most customer reviews on a company website should be viewed with a critical eye; a better place to find the information you need is at the Better Business Bureau. This is a great tool for researching many aspects of the company in question. From their business practices, satisfaction ratings, and history, this is a great way to determine if you are looking at a legitimate and honest company, or a fly-by-night operation that will cause you more pain than they are worth.

Getting Results Quickly

If there is anything that the leading structure settlement companies will have in common, it will be the ability to get you a variety of quotes from buyers in a short amount of time. This allows you to look at the competing offers and compare them in short order, with no long waiting periods. This will enable you to get compare companies and pick the offer that best meets your needs.

Thoroughly researching and comparing structured settlement companies will enable you to take full advantage of the money that is owed to you, and help you get the deal that is best meets your needs.

3
Feb 14

How Structured Settlement Money can Help You Meet Today’s Needs

Many structured settlements are the result of winning a personal injury case, or a liability case, against a company or individual that caused harm to come to you. Financial settlements are set up to help ease monetary struggles and meet your current needs, but these needs, like many other factors, can change over time. Still, many need the steady and reliable income for making today’s ends meet.

Life is Dynamic

Life is an ever changing process. Change is often a major part of the process, and can be a good thing, though sometimes it isn’t. For example, personal injury settlements can help pay for medical expense that were the result of your injury. But what if you have permanently lost your means of support after the injury? What if you have significant debt and are now facing daily calls from the bill collectors? When these situations arise, monthly payments may not be enough to change your situation, and a larger lump sum of cash is what is needed to rectify your problem.

Using your Settlement to Meet Your Needs

Once your case is settled, and your settlement terms are set up and agreed upon, you’re stuck with it. You can’t go back and change your terms to meet the rising costs and changing needs you are faced with today. However, there is an alternative; there are companies that will buy your settlement for a lump sum, which you can then use to remedy your situation and help you meet your goals.

A Simple Solution

There are several ways a company can purchase your settlement payments or annuities in order to help you meet your financial needs. For instance, you can sell only a part of your settlement for a small lump sum that can help you through the difficult times. Conversely, you can also sell your entire settlement for an even larger sum, but you will no longer receive any settlement payments after that. Even though your payments will no longer be coming, you can get the most money possible in this way, which can go a long way toward solving your money problems.

This can be a simple and easy solution, but it isn’t that simple. In order to get the best deal possible, you should work with a reputable broker, who can guide you through the process and help you make the best financial decisions concerning your settlement. A skilled and competent broker can introduce you to the best companies for buying settlements, and help you get the help you need to make a positive change, no matter what your situation is.

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.

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.

23
Dec 13

The Possible Problems of Selling Your Structured Settlement

After suffering injuries or damages, you may be awarded a structured settlement to ease financial difficulties and help relieve any pain or inconvenience you might have endured. Although, you may discover that your structured settlement payments aren’t meeting your needs and may considering selling them. While you can sell your settlement in part or in whole, it isn’t a simple process. Some problems can arise, but if you know what to do, you can avoid them.

Appearing before the Judge

Many people don’t realize that in order to sell their payments, or “transfer” them, they must go back before a judge. Deciding whether or not the sale is actually in your best interest is the judge’s job, and they will consider many criteria when making this decision. The judge will look at your financial situation or circumstances and base their decision on that. And, he will deny your transfer if your immediate need isn’t proven to their satisfaction.

Examining your Offer

The company making your offer can also be a factor the judge looks at when determining your best interests. Your transfer will be denied if the judge decides the terms they are offering are not fair to you. What terms will the judge consider to be fair and in your best interest? In this case, the judge’s job is to make sure you aren’t ripped off, and that most of the funds awarded to you actually go to you and aren’t lost to the buying company. The amount varies from company to company (which is why it pays to comparison shop when looking for a buyer), but many times you can get up to 90% of the money you are owed.

Hire a Professional

You may not realize it, but having a competent lawyer on your side can be important if you are considering selling your structured payments. Competent counsel from a lawyer can give you an idea of whether your offer will be approved or denied by a judge. They can also stop a predatory company from taking advantage of your situation and ripping you off.

Compare Companies

Comparing offers from competing companies is the best way to ensure you get the best deal, and an expert settlement broker can get you offers from many companies in a short amount of time, allowing you to choose the best company for your financial needs.

2
Dec 13

Why Should You Cash in Your Annuity

Getting an annual annuity payment makes a lot of sense for some people. An annuity can afford you the security and reliability of a regular income, regardless of whether it is from an insurance policy or from winning the lottery. Or at least, that’s what it is supposed to do. Annuity payments can guarantee you a regular income over a specific time-frame that allows you to live a normal life and plan for your future. Things don’t always work out like we want, however, and sometimes annuity payments aren’t as beneficial as we would have thought.

Growing Expenses

Some people may need to cash out their annuity to pay off unforeseen expenses, like emergency medical bills, that can arise suddenly through no fault of your own. Annuity payments may be great for the average person’s everyday life, but a medical emergency can quickly become too expensive for your payments to cover and leave you owing a lot of money. Annuity payments are nice for what they are, but if you find yourself in an unfortunate situation, then you may find yourself facing mounting bills and calls from collectors when your income simply can’t cover all your expenses.

Where to Look

When looking to cash in your annuity, there are things you can and can’t do. You can’t simply go ask for the rest of your money at the bank, for example, even though technically all the money is yours to begin with. They don’t have to give you anything until time for one of your payments, and then they will give you that, and only that, which you agreed upon when setting up your payments. However, you can sell your annuity to a company that specializes in buying annuities and structured settlements. This will let you get a lump sum of cash to take care of any needs or circumstances you might have found yourself in. Paying for education, repairing your home or car, paying bills, whatever you need to do. Not all buyers are the same, though, and different companies may offer differing amounts for your annuity. That’s why it is always a good idea to shop around and compare offers to make certain you get the right offer for you. That is why working with a broker is a great idea. By using their knowledge and expertise, you can get the offers you need in a timely manner, and be able to choose the option that is right for you and your family.

25
Nov 13

Find the Best Annuity Buyer

Most of the time, an annuity is going to be a relatively small payment given yearly, or monthly with the case of some types of settlements. Having that money coming into your pocket each month can be nice, but sometimes, it just is not enough to take care of all of the emergencies that can crop up. Medical expenses, home repairs, and other issues could all cause huge problems in your life if you do not have the money to pay for them. Those who are receiving payments do have another option though.

You could consider finding an annuity buyer that would be able to purchase the payments from you and provide you with a much larger payment. This can be quite valuable for those who need to have money right away. However, you need to make sure that you are working with the best buyer possible and the right one for your needs. One of the things that you have to remember though is that if you do choose to sell the annuity, it could have some tax implications. Make sure to consider those when selling, and talk with a professional about how it could affect you and how you might need to claim them on your taxes.

Take your time to find a reputable annuity buyer who can work with you. Look at the offers from a couple of different companies so that you can be sure you are getting the best deal for the annuities you are selling. Get a number of quotes from those companies and research the companies to see how long they have been in business and what other users have to say about them. The more research you do now the happier you are going to be later. Find the buyer that is right for you.

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