News and Tips on structured settlement transfers.

Sellers

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.

30
Dec 13

What Are the Duties of a Structured Settlement Broker in a Personal Injury Case

An annuity broker, or structured settlement broker, negotiates the buyout of structured settlement annuities to determine the payout schedule after an individual has won their lawsuit. Usually, the annuity was awarded in a lawsuit concerning a personal injury often due to willful misconduct or negligence of the defendant. The compensation for the injury is an amount paid out as the settlement in the case, which is not usually determined through a jury trial.

Many times, a structured settlement broker will provide an alternative to a lump sum payment. The annuity will be provided by an insurance or annuity company that has a payment schedule that provides money every month, quarter or year. To acquire an annuity, the defendant (losing party) will make a one-time premium payment to the insurance company in exchange for a payout schedule for the awarded party.

Determining the Settlement Value

One of the most critical duties completed by the structured settlement broker is determining the value of the settlement. By calculating medical costs (past and future), incurred by the injured party along with all the associated needs including a home nurse, physical therapy, medicines, and any needed surgery in the future, the broker can determine the economic costs of the case.

The structured settlement broker will also determine non-economic costs including mental anguish, disfigurement, pain and suffering, inconvenience, well-being, mental health, and any loss of consortium – the diminished affection, cooperation, aid and intimacy between wife and husband. Determining the past, present and future burden placed on the injured party helps the broker calculate a rough estimate of the current loss, and any expected future loss.

The projections made by a structured settlement broker are a key component to being able to construct a settlement in the court case. The functions and responsibility of a broker are crucial in many personal injury cases where damages are challenging to calculate.

16
Dec 13

An Alternative to Receiving Monthly Structured Settlement Payments

Many people receive structured settlement payments as part of an agreement from an insurance company as a result of an accident or medical malpractice. Usually, the cash payments are received for a specific period of time, on an installment plan. Typically the claimant will receive monthly payments instead of as a lump sum or flat rate.

Often considered a long-term contract, structured settlement payments are designed to offer financial security for the long haul. It provides a source of funds to pay medical bills, living expenses and/or medications. The logic behind issuing structured settlement payments is the assurance that it provides the receiver that they will have the money they need in the future. Often times, the insurance company will provide an annuity with a specific dollar amount paid up front that will produce monthly payments to the beneficiary.

Payment Options

There are numerous options for structured settlement payments other than just receiving a monthly check. The payment schedule can be set as a single annual amount provided to the beneficiary, or a more complex arrangement with special provisions or deferred payments.

The downside of agreeing to structured settlement payments is the limitations and restrictions placed on the beneficiary. Once the court order agreement has been accepted, the terms cannot be changed at a future date. Because of that, it is imperative that the claimant uses the skills of a competent attorney to negotiate terms that meet his or her needs.

Selling the Structured Settlement

Once the beneficiary begins receiving structured settlement payments, he or she can sell the annuity for a lump sum cash amount. The agreement to sell the structured settlement can be designed to only sell a portion of the annuity and allow the beneficiary to continue to receive reduced monthly payments. This option is usually preferable to individuals that require more income than what is provided by the structured settlement.

26
Mar 13

How to Sell Your Annuity Payments

In the long run, annuity payments can provide a reliable and stable source of income. However, many annuities will be paid over a considerable amount of time, such as lifetime payments, which can go a long way toward providing for those with limited income potential. As ideal as structured payments are, however, they might not be perfect for every situation or instance. They may not be right for you as well, if you are considering selling your annuity payments.

What are Your Needs?

You can’t sell your payments for something trivial, like an RV or a vacation. Any planned structured settlement transfers – such as your annuity – go before a judge who will look at all the facts of your case. Once there, you will have to demonstrate your actual need to his satisfaction – your need for a transfer must be vital or urgent before it will be approved.

Look for Buyers

If the judge determines your need warrants a sale or transfer of your structured settlement payments, you will need to find companies who buy settlements and annuity payments. There are many companies to choose from, but it can be hard to locate and contact a reputable and trustworthy company. You will need to put in a lot of time and effort to find a company that can satisfy your needs. After locating a few possible companies, you’ll need look over and compare the offers they will make to you.

Choosing the Right Company for You

Researching companies and entertaining offers can be a daunting task to take on by yourself, but there are alternatives to making a go of it alone. Many experienced structured settlement companies have contact with some of the most reputable and trustworthy buyers of settlements and annuities. Using a competent broker can be invaluable when selling your annuities. With the right structured settlement broker, you could start receiving offers shortly after completing and turning in your information to them.

Perhaps the biggest benefit to using a settlement broker is having a competent and skilled advisor working on your behalf to ensure you receive offers from the most reliable and trustworthy companies, eliminating the fear of finding yourself trapped by an underhanded, predatory company who only care about getting your money. A helping hand can provide some significant peace of mind, and a competent structured payment settlement broker can provide this, and more, when you choose to let them help your sell your annuity.

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.

5
Mar 13

Facts You Need to Know Before Selling Your Annuity

An annuity payment may provide you with a steady and reliable source of income, but this may not be enough if the need for a large lump sum of money arises. But there is a way you can receive a large sum of cash instead of scraping by on smaller payments. Selling your annuity might be a viable choice for you if the situation does come up, but there are things you should know in order to determine if this is the right option for your needs.

Laws and Regulations

Before attempting to sell your annuity, you should find out what the state and federal laws are that could affect your sale. Each state is different, so you need to be sure any offer falls within the guidelines set forth by lawmakers to ensure a sale is both fair and warranted in your situation. Legal counsel can be invaluable, and help guide you through the murky and often complicated process of selling your annuity.

Check the Percentages

Another important factor to consider is how much money you would receive from a proposed sale. Naturally, you won’t get 100% of the money owed to you through the annuity, as companies are in business to make money. Companies generally pay a percentage of your total annuity, based on your total amount, your payment terms and other factors. Companies vary in the way they make offers and do business, so careful comparative shopping is a must. Carefully considering each company and comparing offers will guarantee you will get the best deal you possibly can.

Get Multiple Offers

You should get as many offers as you can when deciding to sell your annuity. That way, you will have many different options and offers to compare, giving you the best set of choices to help you in your time of need. A broker can help streamline this process, enabling you to get many offers quickly and help you to make the best decision when it comes to complicated financial matters such as those involved with selling your annuity.

By using the information supplied to you, making the decision to sell or not to sell becomes considerably less difficult. There is a lot to consider before making your decision, however, and a competent and knowledgeable broker can help you make the best choice for your financial future.

9
Feb 13

Choosing Between Structured Settlement Buyers

Though many structured settlements are set up through a judge, they are not set in stone. While a structured settlement payment plan may be right for some people, for others it may no longer be the best for their changing and varied financial needs. These people may have immediate needs for a lump sum, such as paying for tuition or taking care of past due bills and obligations. However, there are companies out there that will purchase your settlement, providing you with the lump sum of cash you need to remedy your situation. When you decide to look for a company to care for your financial need, there are several things you must take into consideration.

Shop Around

One of the most important things you must understand is that not all companies who buy settlements and annuities are the same. There are good, trustworthy companies out there, but there are also shady and unscrupulous ones, and it is important for you to be able to spot the differences between these companies to avoid making a grave financial mistake. How do you know who to trust? Comparing the companies, as well as their offers, is the key to making the best decision possible.

Important Criteria When Comparing Companies

When choosing the right company for you, there are several criteria you should think about before making your final decision. All offers must be legal in your state and jurisdiction, for example. You should also make sure your company is offering the greatest percentage of your annuity or settlement. Of course, you will not receive 100% of the money owed to you through these settlements and annuities, but you should be able to get most of your money without worry.

Of course, you may only want to sell a portion of your annuity or settlement, and there are companies who are happy to do this as well. This way, you can get the cash you need for your situation without giving up the steady and reliable income a regular payment provides.

Consider Hiring a Brokerage Firm

Utilizing the services of a broker can help you make those all important decisions regarding your settlement or annuity. Choose a broker with the knowledge and experience of years of customer service, and a reputation for doing what it takes to get people the offers that best suit their unique individual financial needs.

4
Feb 13

The Advantage of Utilizing a Structured Settlement Broker

If you need the money you have been awarded from a settlement immediately, selling your settlement to a structured settlement broker is a very good choice. This is especially true if you are struggling through financial problems. Getting your money now can be essential when faced with mounting medical bills, bill collectors, and a loss of employment. Though, you should not try selling your settlement without the services of an expert in the field.

Making the Right Choice

Structured settlement offers can vary widely from company to company. Some companies may only want to purchase part of your settlement payments. Other companies might charge outrageous percentages and fees, meaning you will get less of your settlement than you actually deserve. Other companies could have a less than stellar reputation with the public. No matter your situation or specific needs, a structured settlement broker can help you make the best decision for you.

Quick, Competent Service

Another reason to go with a structured settlement broker is how quickly they can assist you with getting offers. Getting offers may take a while, because it can take a long time just to find a buyer if you attempt to do it on your own. However, when you enlist the services of a structured settlement broker, you could start receiving offers in no time at all. For people facing financial difficulties, getting things done quickly can be a lifesaver, because the quicker they get some offers, the quicker they can get the money they so desperately need.

Looking After Your Best Interests

Not all of the companies out there that buy structured settlements may be right for your particular situation. Some companies may have bad reputations, while others simply may not have terms that are right for you. A competent structured settlement broker can help you to look after your own best interests, and find a reputable buyer dedicated to giving you what you need to meet your needs and goals.

Utilizing a reputable broker will help provide access to a large selection of qualified buyers, help you find the information you need to make informed decisions, and help guide you through the process of selling your settlement. Regardless of how easy those late night infomercials make it seem, selling your structured payments can be a difficult task. An expert structured settlement broker can help you with the process and remove some of the difficulty for you.

30
Jan 13

Can a Structured Settlement Transfer be Blocked by the Court?

Many people rightfully think that the decision of how to best use their resources, like money, is theirs to make. This is especially true of annuities and structured settlements, although that might not actually be true. Many states have laws in place dictating how structured settlements are dealt with, especially transfers or sales. Can a court really block the transfer of a structured settlement? The most honest reply to that question is yes, the court can deny the transfer of a settlement, but there’s a little more to it than that.

A Little Investigating

You have to know about the history of the structured settlement brokerage industry to really know what’s going on. The predatory nature of some companies has caused many states and consumer advocates to hold a low opinion of structured settlement transfers. Preying on the desperate and needy, these companies convince them that the best option for their financial situation is selling their structured settlements.

Most states, however, now have laws on the books to protect consumers from these types of predatory companies. One of the immediate benefits of this is that all transfers or sales must go before a judge, who will determine if the transfer is in the payee’s best interests. In many cases, the judge denies the transfer, not allowing the sale to take place.

The Criteria for Denying a Transfer

The reasons for denying the sale or transfer of a structured settlement are many and varied. One of the most common reasons is that allowing the sale or transfer is “not in the payee’s best interests”. This can mean virtually anything, although there does seem to be mitigating factors. For example, there’s a good chance that the court will reject the transfer if the funding firm recommends that the payee seek legal counsel before entering into a transfer arrangement. The proposal will then be rejected if the court does not find proof of a real financial need on behalf of the payee.

Additionally, if the transfer is not deemed “fair and reasonable” the court may reject it. For example, chances are very good that they will not approve of the proposal if the funding firm offers a payout of only 50% of the total payments for the life of the settlement.

It is easy to see that there are many factors that could lead a court to reject the transfer of a structured settlement. Showing a real financial need, and working with a firm that’s offering fair terms, is your best defense against a court denying your sale.

5
Jan 12

How to Sell Annuities?

How to sell annuities? There are numerous reasons why a person would want to sell their structured settlement annuity payments. The main reason is a large unexpected expense that arises, or a drastic change in the personal financial circumstances of an individual. The purpose of selling the structured settlement annuity is to get a lump sum of cash.

Another reason is that some people are just not satisfied with their settlement payment. Whatever your reason, there is a solution for you. You can sell your annuity for a large cash payment.

There are three options available to you;

-You can sell your entire annuity.
-You can sell also sell a few of your payments.
-You can sell a percentage of your payments.

By selling your structured settlement annuity you can receive the money you need immediately, instead of having to wait for monthly installments. And if you sell a percentage or just a portion of your annuities you can still rely on the security of your future annuity payments.

Another reason is that even though your annuity is a decent amount right now, it may not have the same value in the future. Inflation is a constant economic problem. A $1,000 annuity right now may be a decent amount, but in 10 years the same amount of money will not have the same value. And this is where selling your entire structured settlement annuity may be beneficial. But, if you do not want to lose out on the security and reliability of receiving regular payments, you could just sell a portion of the annuity to receive a lump sum that will help you in an emergency situation.

When you first receive a structured settlement annuity, it may be the perfect plan for you. It may be very financial comforting for a period of time. But, circumstances never stay the same. You could be facing unexpected expenses, or you could be drowning in debts, and the monthly installments may not be sufficient anymore. If you need a lump cash payment then selling your annuity may be the perfect solution for you.

There are plenty of buyers who are interested in purchasing settlement annuities and are able to pay cash for them, so it will not be difficult to find a buyer. The problem is finding a buyer who will offer you the amount that you need.

The only drawback to such a solution is the loss that you will be making. Obviously, you will not receive a full cash payment for the entire value of the annuity. The buyers are not making the purchase out of charity. They need to make a profit too. But, you will be able to find a buyer who will be able to offer you a fair amount for your annuity. Make sure that you get as many quotes as you can before you settle on an offer.

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