News and Tips on structured settlement transfers.

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Posts Tagged: cash for structured settlement


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.


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.


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.


18
Nov 13

Why Lump Sum Payments are Avoided by the Courts

Injury due to the negligence of an individual or company may entitle you to a monetary settlement to help ease pain and suffering, and provide you with the means of paying off your expensive medical or legal bills. When you go to court, a judge will hear both sides of the case, weigh the facts carefully, and then make a decision based on the information gained during the court proceedings. This can often result in an award of a very large sum of money. And though it would be nice to get all that money in one whack, chances are good that it won’t happen in quite that way. Many times, judges simply won’t award money in a large lump sum.

Cause and Effect

Most of the time, a court will avoid paying out these large sums at once because of the effect it can have on a defendant’s financial situation. A huge lump sum, paid all at once, can ruin an individual and put companies out of business, affecting not just one person, but many, many people negatively. This can also prevent you from ever collecting the amount owed you through the settlement.

Advantages of Structured Payments

Though it can be good to get your money in a lump sum payment, there are benefits for courts who avoid handing out large settlements in one lump sum. By setting up a structured payment plan, courts can be assured you won’t blow through your award in a very short time, guaranteeing you a reliable income that can sustain you for the long term.

Another Option

If a court does decide that structured payments would be better for you in the long run, you still have an option if you feel you have a definite need for a lump sum cash payment. There are companies who will buy your settlement for a percentage (selling your settlement or annuity will never get you the full amount of your award), granting you access to more of your money than you would normally receive by monthly payments.

Facing these challenges is always better with a trusted and honest broker to assist you when starting the process of selling your settlement. Utilizing a broker can give you the advantage you need to keep yourself on a solid financial footing, and give you what you need in order to move ahead with your dreams and goals for the future.


11
Nov 13

Is a Structured Settlement Annuity a Good Idea?

Most of the time during an injury settlement, the injured individual is simply not going to be able to see all of the money from a large settlement at once. The injured party and the insurance company who will be paying out the settlement for a fixed period. The payment terms for the settlement can vary. In some cases, they may last the entire lifetime of the claimant. They payments from a structured settlement annuity aim toward providing long-term financial care for the claimant. This means that it is very important to make sure that the annuity provider is reputable and has the proper credentials.

In some cases, the payments are monthly, and in other cases, the payments will be yearly. It all depends upon the terms of the agreement. It is generally going to be preferable to choose annuity payments rather than have the entire lump sum handed over all at once.

First, when someone receives a large sum of money all at once, he or she tends to overspend. Perhaps they’ve struggled at other points in their life and finally have the money to be able to buy the things they’ve wanted. This is an easy road to disaster. One of the other big reasons to choose a structured settlement annuity with payments is that with the lump sum, the claimant will not receive the full amount. It is possible to sell future annuity payments, but you will not always receive what they are worth. It is possible to find some quality companies that will offer to buy the annuity payments though.

Those who are in a position to receive a structured settlement annuity should always take the time to talk with a qualified attorney about the pros and cons. The attorney will be able to guide them through the settlement process to ensure that they are making the best decisions along every step of the way.


22
May 13

Reputable Companies Offer Cash for Structured Settlements

Every day there are individuals that receive a structured settlement annuity as their award in a civil lawsuit, as a result of injury or damages incurred at the hands of another. Many times, the annuity is payment for misconduct, negligence, or medical malpractice. Sometimes the amount of the monthly annuity payment is not enough to cover the expenses of the claimant, who might have to seek cash for their structured settlement as a way to survive.

Awarding a Structured Settlement

Courts often accept structured settlements as the method for paying the award. To the judge, it might offer significant advantages to the claimant in that it provides a monthly payment to meet living expenses, pay for education costs or even offer retirement income. Sometimes, it works as an effective tool to minimize the ability of the claimant to spend the bulk of the award in their early years, having no funds left as they age.

Terms and Conditions

The problem with agreeing to the terms and conditions of a structured settlement is that it cannot be changed, deferred, increased, decreased, or accelerated. Any time the claimant’s life changes, he or she is still stuck with the original arrangement of the structured settlement annuity. When this happens, many claimants seek ways to find cash for structured settlements they own.

There are numerous reputable companies that eagerly pay cash for structured settlements. However, before selling, the claimant or beneficiary of the annuity should determine exactly how much cash they require. The full amount of the structured settlement does not have to be sold, as companies are eager to purchase even a small portion of the annuity.

Once the determination has been made on the value of the structured settlement, an offer or quote will be made. It is advisable to obtain at least three separate quotes from different companies that offer cash for structured settlements, to ensure the beneficiary is receiving an adequate amount.


18
Apr 13

Who are the NSSTA

The National Structured Settlement Trade Association is the authority in the world of structured trade settlements. If you receive or are about to receive a structured settlement or annuity, then knowing about this organization and what they represent can be very important to you and your financial situation. They have a major role in the industry, and understanding what they do is vital for anyone about to begin a settlement payment plan.

The Beginning

The National Structured Settlements Trade Association was established in 1984, after landmark changes to the United States Tax Code made structured payments and annuities much more prevalent in society. The organization was created to help benefit individuals working within the structured settlement industry, including attorneys, consultants, insurance professionals and others. Currently, the organization represents almost 1,200 members across the nation.

Honest and Dependable

The National Structured Settlements Trade Association is founded on the principles and ideas of honesty and integrity. They strive to provide the most competent, fair and honest services they can to all clients who are about to begin the process of attaining their structured settlements. Dedicated professionals, they provide confidentiality for all their members and everyone they represent.

Noteworthy Benefits for Their Clients

The National Structured Settlements Trade Association offers certain advantages to the people who understand the benefits they offer. Any private citizen or organization that might be entering a structured settlement agreement can get peace of mind, integrity and security by knowing about and taking advantage of these benefits. But how exactly do they provide these types of benefits and advantages to their clients?

Knowing what to look for when you decide to sell your settlement or annuity is perhaps the most important thing for you to know. Working with a broker when you decide that you would prefer a lump sum payment over a regular settlement payment can help you get many offers that might be right for you, and enable you to compare them and their companies to find one that is best for you. A broker accredited with both the NSSTA and the BBB will ensure you are getting the best brokerage assistance, assistance that is knowledgeable and reliable.

The NSSTA, and their team of experts, can ensure you’ll integrity and excellence of service if you will be dealing with any of the inner workings and processes of a structured settlement plan or 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.


27
Feb 13

What You Need to Know About Structured Settlements

When a person is fortunate enough to be awarded a settlement or win a large cash prize, many think they will undoubtedly choose to get their money in a large lump sum, but this isn’t actually the case. Instead, most people choose to get their money through structured settlement payments. This allows them to have a steady source of reliable income, and helps eliminate the chance of blowing all the money immediately through impulsive purchasing.

Basically, you are agreeing to accept your money in incremental payments, made over a period of time. How these payments are set up, however, is up to you, and you can decide on how much or how little is paid with these payments. It is even possible to arrange for part of your money to be made in payments, with the rest given in a lump sum amount.

Though this process may seem like it takes vary little thought, the choice between a lump sum and regular payments is not always an easy choice to make. While some may think regular payments are the best option, sometimes there can be a need for larger amounts than is possible with a structured settlement. But once your payment details have been set and agreed upon by you and by the court, you will have limited access to those funds, except for the regular payments.

Sometimes people need more money than these payments can provide, and that’s when they realize the problem with structured settlement payments. Even though the money is yours, you don’t have access to it. Even so, a competent settlement broker can help you get a lump sum by working with you to sell your settlement. A broker can put you in contact with a company which specializes in purchasing settlement payments, granting you access to the lump sum payment you need to meet your financial needs. They have contacts with many companies, and can quickly get you many offers to compare and choose from. They can also help guide you through the process of selling your structured settlement.

Choosing the right broker, however, is very important. Not every company can put you in contact with the best company for you, and some firms can be unscrupulous. Making sure the company you’ve chosen has a reputation for high satisfaction customer service can be vital to achieving your goals.

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.


18
Feb 13

The Inner Workings of Structured Settlements

Structured settlements – payments set up over a period of time – have become a staple of modern life. From the lucky lottery winner, to victors of lawsuits and injury claims, structured settlements are all around us. What you need to know is exactly how these settlements and payouts work.

Understanding Structured Settlements

Structured settlements aren’t complicated; it takes very little effort to understand how they work. Basically, a structured settlement is a payment of a sum of money, in increments, over a set period of time. Payment of the sum awarded takes place over months, years, or even a person’s lifetime until the full amount owed has been paid.

Why Choose a Structured Settlement?

Understanding the advantages of structured settlements is necessary when learning about structured settlements and how they work. Even though you won’t get your money in one lump sum, there are many benefits to choosing structured settlements. For example, it can be very easy to blow a lump sum settlement in a short period of time, something that receiving smaller, structured payments prevents from happening. It also guarantees a steady, reliable source of tax-free income, if structured correctly.

Other Things to Consider

While structured settlement payments offer benefits and advantages, there are a few disadvantages as well. Perhaps the biggest disadvantage is, once the payments have been set, you can’t change them. You also can’t have full and complete access to the entire amount awarded to you, so if a need arises or something about your living situation suddenly changes, your smaller payments may no longer meet your needs. Knowing you have a large enough amount of money to seriously improve your situation, but with no way to get it, can be a very stressful position to find yourself in.

A Solution to the Problem

Luckily, there are ways to remedy this for people who find themselves in such a situation. There are companies, for example, who buy structured settlement payments and awards for lump sum amounts. Though you will get all of your money at one time, you won’t get the full amount owed you by your settlement. Still, you can use this lump sum for anything you want, from vacationing to making needed repairs and renovations to your home. Selling your payments can be a great choice when the need arises, but be sure choose your buyer carefully and do your research before making your decision.

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.


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.

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.