News and Tips on structured settlement transfers.

Tips

21
Dec 10

Selling a Business Note

If you owned a business and sold it, the purchaser may have given you some cash and a note for the balance. If you’d rather not wait for payments and want to sell that note now, you can exchange some or all of the future payments in exchange for a lump sum up front. Like a sale of a structured settlement or lottery award, you will receive less in total than you would have over time, but if you need cash right away, this may be a good option.

When considering what your business note might be worth, prospective buyers consider many factors, including the following:

Note Terms. The longer the term of your note, the less it is likely to be worth to a purchaser; they don’t like to wait for their cash, either. Five years (60 months) appears to be a rule of thumb, investors don’t like to see longer terms than this.

Interest Rate. Of course, prospective buyers stand to make more money on a note with a higher interest rate, and will pay more for it.

Down Payment. A larger down payment made when the buyer purchased your business indicates a stronger business and a more creditworthy note payor.

Business Characteristics: Is this business in a growing field? How established is it? How strong is its client base? How have sales been lately?

Assets. The business is the collateral for the note, but what does the business own? Does it have strong financials, a good cash balance, and valuable underlying assets?

Liabilities. The prospective buyer is certain to check for other potential claims against the business, such as loans, lawsuits, or tax liens.

Seasoning. Investors often like to see that one or two payments have already been made against the note; this is referred to as “seasoning.” A successful payment history suggests that default is less likely in the future.

Should you enter into an agreement to sell your note, you’ll need to assemble documents for the buyer.

Notes and Contracts: You’ll need the actual promissory note you received, and the contract for the sale of the business.

Security Agreement: This is the contract that demonstrates your interest in the business itself if the payments aren’t made on the note – in other words, it proves your collateral.

Proof of payments made on the note to date.

Financial statements and/or tax returns for the business.

This is a short list, of course, and you may be asked for much more. Bottom line is, the prospective buyer will want lots of assurance as to the strength of the note.

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.

19
Dec 10

All in the Letters – A Guide to Financial Advisor Certifications

If you are shopping around for a competent financial advisor, or FA, to help you decide whether to sell a structure settlement, or the best way to invest the proceeds, you should consider their education, experience, and expertise. One easy way to get an idea of a prospective FA’s background is to look at the letters after his name; that is, whether he carries any special certifications or professional designations. Attainment of any of these suggests a minimum level of knowledge and/or work experience. Here’s a guide to some of the more likely ones you’ll see when evaluating prospective advisors.

Designations of professionals with general financial planning knowledge:

CPA – Certified Public Accountant. CPAs have studied accounting and have passed exams to earn the certification. CPAs can specialize in a number of areas, however, so if you are seeking a CPA who has further expertise in financial planning, look for the PFS, or Personal Finance Specialist, designation.

CFP – Certified Financial Planner. This designation is given by the Certified Financial Planner Board of Standards, Inc., to candidates who have completed extensive study in financial planning, have passed certification exams, and have attained experience in financial planning.

ChFC – Chartered Financial Consultant. Much like CFPs, the ChFC has demonstrated knowledge of financial planning topics, passed certification exams, and has gained related work experience.

Designations of professionals who concentrate on investments:

CFA – Certified Financial Analyst. A designation for professionals who have at least three years of work experience and who have passed rigorous exams concentrating on portfolio management and investment analysis.

CFS – Certified Fund Specialist. This professional concentrates on analysis and investment in mutual funds.

CIC – Chartered Investment Counselor. Another designation that emphasizes investing.

Designations of professionals who concentrate on insurance and estate planning:

CFTA – Certified Trust and Financial Advisor. This person has passed an exam that focuses on retirement and estate planning, investment management, and taxation.

CLU – Chartered Life Underwriter. This is a designation administered by the American College, and goes to individuals who have demonstrated expertise in the areas of estate planning and life insurance.

This is far from an exhaustive list; many other designations exist, each with their own qualifications. While a professional certification should not be your sole criterion for choosing a financial advisor, the institutions that award these designations usually require the professionals to maintain certain ethical standards and even continuing education. You might consider giving a few bonus points to these professionals when choosing the one who will help you.

18
Dec 10

Finding the Right Financial Advisor

Virtually every post here has recommended that a prospective seller of a settlement, lottery award, or mortgage note seek the advice of both legal and financial counsel. You can open the phone book to “Accountants” “Financial Advisors,” or “Financial Planners” to get a list of names, but this isn’t enough to find someone qualified to help you.

References. Talk to people you know about how and where they get financial and investing advice. Find out what types of services they got from the professionals they hired; optimally, you want someone who handles your type of settlement on a regular basis. If you have a settlement as a result of a lawsuit, your attorney might have suggestions, but you should evaluate their recommendations with the same critical eye as any other.

Professional Associations. Accountants and financial advisors often belong to professional associations, such as the American Institute of Certified Public Accountants or the National Association of Personal Financial Advisors. Find your local chapter for these organizations and talk to them. Ask about members who’ve handled your type of situation before.

Beware. Beware of financial advisors who work on commission, or who work solely with one or two investment organizations. Beware any accountant or advisor who guarantees investment returns and glosses over the risks. If they’re anxious to get their hands on a large sum of cash, they may be too eager for you to sell your settlement, rather than give you objective advice about all of your options.

Fees. Many financial advisors work for “fee-based,” “fee-plus-commission,” or “commission-based” compensation. This means that they earn a commission or the products or services they sell you. While this is legal and doesn’t mean the advisor is dishonest, it may lead him to steer you toward the products that will earn him a commission. By contrast, a “fee-only” financial advisor doesn’t work for commission; you will pay him directly for his services. While this means a cash outlay up front for you, it also means he has no incentive to lead you toward a particular product and may give you more objective advice.

Certifications. Look at any professional designations your prospective advisor has. Designations such as CPA (Certified Public Accountant) or CFP (Certified Financial Planner) indicate that the person has certain levels of education and/or has passed certification exams. Ask the prospective advisor about his qualifications. If he has a professional designation, check to make sure the designation is still active and good standing. For example, you can check with your state’s regulatory agency for Certified Public Accountants to ensure a CPA has a valid license.

The Interview. Most importantly, talk with your prospective advisor on the phone or in person. Get the details about his qualifications, and determine whether his areas of expertise meet your needs. Ask about prior experience with your type of settlement. Ask him specifically about relationships with investment and insurance companies, and how you can be sure that his advice is independent and objective.

10
Oct 10

What to Look For in a Company When Selling a Structured Settlement

You hear the term “structured settlement” practically every day. Most often it will be in the context of selling it to certain companies.

Keep in mind that the purchaser is looking to make a profit. Your goal is to get the most money possible. Go slow in deciding when and to whom to sell. Do your research, take bids and insist that certain terms and rights be met. It is your money. You are in control. If the amount of the offer and the conditions of the deal don’t make for a fair exchange, look elsewhere.

Remember, you don’t have to sell the entire settlement. You can sell just a portion if you prefer.

Here are steps you can take to protect yourself and ensure you are getting the best deal:

1. Have an idea of what your structured settlement is worth, keeping in mind a fair discount rate. This discount is where the company’s profit comes from and why they are willing to purchase. If this doesn’t meet your expectations then maybe selling isn’t right for you at this time.

2. Make sure the company you’re considering is legitimate. As with any other business, the Better Business Bureau is an excellent place to start. You will also want to do a web search for complaints against the company. An easy way to do this is to just “google” the name of the company followed by the words “complaints” or “reviews”.

3. Don’t rely on the integrity of any one company. Get multiple quotes. Don’t share the offered amounts with the other companies who will be giving quotes. You don’t want a previous offer to be a factor in new bids. This is also a good way to weed out the not-so-good companies. If someone offers a ridiculously low offer they probably do not have your best interest in mind. Conversely, if someone offers an unreasonably high offer, this is suspicious as well. It’s fairly common to offer the highest initial bid and then do a series of stalls until the client is desperate to take a much lower offer.

4. When it is time to write the agreement, be sure it is laid out the way it was discussed.

5. Have a definite closing day. This varies by state, but eight to twelve weeks are normally sufficient. Insist that there are penalties in place such as an additional payment per day, due to you on closing, if the settlement company fails to close on time. It is possible for them to stall so they earn some extra interest on the money while they make you wait.

6. Know your rights. There are laws in place to protect your interests. Although it may seem like a nuisance, you will need to go through the court system in your state to have the settlement approved. This is for your protection.

Cashing out a structured settlement is a big financial decision so go slowly and plan carefully.

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.

20
Aug 10

Getting the Best Price for your Annuity or Structured Settlement

Life often takes unexpected turns. Financial crises happen to most people and cash flow problems can snowball to a financial catastrophe. For example, if you’re behind on mortgage payments, it could mean losing your home. If you lose your home, you would still be required to pay rent at another residence.

If you have a structured settlement or other type of annuity, should you sell it? It depends on a number of factors, including other assets or sources of income, the risk you stand to lose if a financial crisis is not averted, and what you stand to gain if sold.

Fortunately, if you decide to sell your annuity, there is help available. There are some useful tips on selling your annuity.

Finding a marketplace to sell your annuity

As with any other commodity, you need to find a marketplace for your annuity. Unlike selling a car, you probably will not find many buyers through Ebay, your local newspaper or Craigslist. Most financial companies interested in purchasing it won’t be looking at those sources.

There are companies that advertise to purchase your annuity, and some may offer you a decent price. But in those cases, you are often given a take it or leave it offer. The more companies that know you are selling an annuity the better, and the more offers you receive, the higher price you will be offered.

QuoteMeAPrice.com provides a marketplace for your annuity or structured settlement. It brings ready, willing and able buyers together with those who need to sell, and are ready to offer cash for either a full settlement or partial settlement. QuotemeaPrice.com does the legwork of finding these buyers for you.

Knowing the worth of your annuity

If you decided to sell your car, you wouldn’t attempt to put a price on it without obtaining a blue book value. Though the selling price of the car may or may not be equal to the blue book value, you at least obtain an informed price as to the marketplace. Understanding what your annuity is potentially worth will allow you to make an informed decision on whether to sell, and if so, the offer you are willing to accept.

With an annuity, the price you receive is not simply a matter of adding up all remaining payments. This is because the remaining payments will be paid out over a number of years. Companies willing to purchase annuities will apply a discount factor against the price of the annuity, taking into consideration the interest they would be earning if their money was invested elsewhere.

There are annuity calculators available for getting an estimate of the present value of your annuity. If you need assistance in determining the value, consider contacting your attorney, accountant, or tax preparer. Or better yet, contact Quotemeaprice.com to get an idea of the present value of your annuity.

Require full disclosure of the sale terms from any buyer

Most states have enacted the Model State Structured Settlement Protection Act in one form or another. First and foremost, the Structured Settlement Protection Act requires full disclosure of all terms of the proposed sale, including the number of payments, the discount rate used by the company and any charges applied for breach of the agreement.

In some cases, independent legal or financial advice is required. Insist that any buyer comply with the Structured Settlement Protection Act

Selling your annuity or structured settlement may be able to protect other assets of yours and may be able to stop a financial crisis before it begins. Knowing your rights as a seller and obtaining the most bidders available through Quotemeaprice.com are invaluable tools to insure the best price in the marketplace is obtained.

7
Aug 10

A Marketplace is the Best Place to go for Liquidating Structured Settlements

Structured Settlements are meant to be residual payments paid out over a period of time. Some people count on receiving those payments on a guaranteed scheduled time frame. However, when the actions of life happen, as they often do, it can be an asset to cash out these payments into one lump sum. There are a number of ways to do this. One of the best ways is by utilizing a marketplace.

What is a marketplace

A marketplace is much like it sounds. It is a place that will market your request for cashing out, or liquidating, your structured settlement. Instead of receiving several payments, a person will receive final one lump sum. The marketplace enables people to list their request and have it viewed by multiple companies.

Let the bidding begin

A marketplace is like ebay on steroids. A request for cashing out a structured settlement is placed. The listing is then viewed by several structured settlement factoring companies and investors. The companies then enter into a feeding frenzy of bids for that settlement. The winning company’s bid is the one the person will end up with. The winning company will then complete the process by taking the transaction through the court system and providing the final lump sum payment to the tort victim.

What settlements can a marketplace list

There are certain payment streams that can be listed in the QuoteMeAPrice.com Marketplace. QuoteMeAPrice.com has buyers for structured settlements, annuities, lottery payments, and mortgage notes.

Benefits of marketplace

The marketplace offers a quick way to get cash for your structured settlement, note, lottery payments, or annuity. The recipient doesn’t need to be harassed by several companies, all the bidding is done in one place. This means less stress, the recipient saves money and headaches.

The marketplace is a great option for people seeking to cash out a structured settlement. They offer peace of mind by receiving the most cash for your future payments.

3
Aug 10

Sell Annuity Payments to Competing Buyers

Have you ever considered selling annuity payments? Are you currently searching for a buyer? The financial arena can be a tricky business and the last thing you would want is to lose valuable capital in a bad deal. Hasty or uneducated choices can be costly. When it comes to these matters it is important to find a reputable and easy to navigate mediator to assist you to make the best possible decision.

Quote Me a Price is proposing to be just the assistance to come to the rescue. The appeal of Quote Me a Price is varied. When you are in the process of Selling Annuity Payments you can visit Quote Me a Price’s website and seek out quotes from a number of institutions. You will not be forced to make a rushed decision but you can browse through the offers you receive and make an informed decision. Quote Me a Price will not only save you time but it may even save you a multitude of problems and costly disappointment.

The option of Selling Annuity Payments has not always been available. Previously you were stuck with the annuity structure you had or you had to fork out a sizeable amount to the insurance company. Now there are companies who make it their business to purchase annuities and other structured settlements. So it is possible to avoid being trapped in an annuity or liable for unreasonable sums of money to escape.

You may be interested in Selling Annuity Payments because you are no longer in need of the money or you prefer to have one large cash payout. Whatever you reasons, you will find the information you need at Quote Me a Price. They are aware of this emerging need and market so they aim to provide a useful and comprehensive service. It is beneficial to you as the seller, as well as the institutions that are offering to buy from you.

The whole process is quite simple and hassle-free. All you need to do is go online to Quote Me a Price and fill in the necessary information. You will receive a response in two working days so you can begin comparing quotes and start the process of selling annuity payments. The firms will make cash offers and you can avoid sending your information to companies from which you have already received a quote. From the comfort of your own home you can handle all your financial business with efficiency.

In addition to selling annuity payments, you can also sell a life insurance policy. You can get quotes for other structured settlements at Quote Me a Price so it is truly an all-inclusive service. When you are in the market to sell this kind of financial policy there is no better place to look for assistance. They guarantee quotes from fine funding firms who will take into account all the most crucial information. Pay Quote Me a Price a visit and watch as your worries disappear.

3
Aug 10

Get Cash for Annuity Payments Today

If you are in a position where you have gotten rid of your form of income and you need to a settlement funding company that will offer you the best quote then you will be glad you found us. We will find you the company that will offer you the best deal giving you more cash than you expected because you were smart enough to let us find you the top rated company. Reasons for getting different quotes vary from one to another that is why we ensure that when you are trying to get enough cash from Selling An Annuity you get the best deal we can find for you.

If you are Selling An Annuity and you would like to get the most from the deal then let us find you the financial company that will pay you more than you expected. We are associated with companies that are in different financial situation therefore when we find you a settlement company that will give you the best deal you can find. Because we understand that finding so many companies takes a lot of time, and you might just give up looking before you find the company that will give you the amount of cash you deserve, we take the time to do it for you.

We have so many companies that we deal with and we are in a position to ensure that you compare your quotes with so many companies before finding the ideal company that will offer you a reasonable good amount of cash. Our service to you when you have decided to Selling An Annuity is to ensure that when you find a company you shop around before you close the deal. After years of research we realized that you do not always have all the information and the contacts of the company that will give you the best so we undertook to assist you in comparing quotes.

Should you currently be in a position to have already started and you have a few quotes in you possession then fill in our online form and indicate which quotes you have already. We might actually be associated with the company that you already have a quote for meaning that we will offer you better perspective on why you were offered the amount of cash you were offered. Because of our vast experience we also ensure that when we compare the quote for you the amounts are worth you considering and our reasons for this vary.

Some companies will offer you the best deal if they are small because they are in a better position. Some companies will offer you a better amount because they are bigger. The reasons for this also vary also so when you are Selling An Annuity do not make a move before coming through us first because you just might be missing a big chance to get more. If you need to compare the best quotes and you are running out of patience then we will do the looking for you and we will find you a better deal than you thought.

3
Aug 10

Getting Cash for your Structured Settlement Payments

Structured settlement laws in the United States have made the business of receiving a payment from a court settlement or a lottery win very difficult. It is almost impossible to receive the full amount in cash when it is awarded, and most parties who have to pay a settlement will much rather opt for a monthly or quarterly payment to ease the financial burden. But where does this leave you? You are entitled to your cash, but by law the party responsible for paying it doesn’t have to release it at more than a trickle. But, did you know that you can get Cash For Structured Settlement payment agreements by selling them?

That’s right, you can get Cash For Structured Settlement payment agreements by selling them off to larger investors or institutions who will buy them at a slight discount in return for giving you all of the cash up front. There are a lot of companies who will offer to buy your structured settlement agreement, but the percentage of your lump sum they will charge will differ greatly. A general guideline is that companies can charge between 7-12% to take your payments off your hands and give you the cash instead. With interest on the payments calculated you get almost the entire remaining amount, even after the company takes its discount!

Unfortunately, finding a company who will give you Cash For Structured Settlement payment plans is not as easy as it sounds. Many of the larger companies can offer you more cash, but they also have higher overheads, which stops them from being able to offer you as much as they could. Smaller companies may also offer you a large amount of cash because they do not have these overheads, but they might also be trying to grow and will charge you more for their services.

So what do you do if you want to get Cash For Structured Settlement payment agreements right now? At QuoteMeAPrice.com you can put up your payment agreement on our board, and let hundreds of investing companies make a bid. Then you select the bidder who offers you the best deal! Now you can find the company who will offer you the largest lump sum, without having to call up dozens of different investment firms! This is by far the best way to sell your structured settlement and get the highest amount of money possible for it.

Why go in search of a company who will offer you a decent amount of cash when you can post your structured settlement and let them come to you! You can get all of your cash right now to put into your home, grow your business or take a dream vacation! Don’t settle for tiny monthly payments that make no real impact on your financial situation. Come to QuoteMeAPrice.com and get Cash For Structured Settlement payment agreements today!

Let Companies Compete to Buy your Structured Settlement!

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News and Tips on structured settlement transfers.

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Let Companies Compete to Buy your Structured Settlement!

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