News and Tips on structured settlement transfers.

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Posts Tagged: sell structured settlement


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.


20
Jan 14

Beneficiaries Sell Settlements to Convert Annuities into a Lump Sum of Cash

In the years past, many individuals that were awarded a payment as a result of a judgment concerning malpractice or accident would receive their money as a lump sum. However, many times the court system allows the defendant to provide a structured settlement annuity that delivers monthly payments instead of a large sum of cash. While it might be the logical solution for many individuals that need monthly income, others sell settlements as a way to generate enough funds to pay their medical bills.

Which Option Is Better?

When a claimant accepts a lump sum, from the corporation or individual that owes them money, they receive the entire amount due in a single payment. This large sum of cash can quickly pay off all medical bills, fees and expenses incurred from the accident, or medical malpractice.

Alternatively, other claimants receive a structured settlement annuity. In lieu of receiving a large amount of cash in a single payment, the lump sum is used instead to purchase a structured settlement annuity that can pay out annually, quarterly, monthly, or other scheduled way. Many times, installments can pay out for many years, and even for the remainder of the claimant’s lifespan.

The Benefits of Both Options

There are significant disadvantages and advantages to receiving a lump sum or a structured settlement annuity. Probably the biggest disadvantage to a lump sum of cash is the ability to spend it unwisely and quickly. The greatest advantage is having enough money to get back on his or her feet.

Providing scheduled payments is the biggest advantage of a structured settlement annuity. However, the payments might not be enough to cover all expenses. In times like these, many beneficiaries choose to sell settlements as a way to generate a lump sum of cash.

Picking the best option should always be based on personal circumstances. Individuals that have made the wrong decision and chose the annuity, can always sell settlements to obtain a lump sum of cash.


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.


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.