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Posts Tagged: sell structured settlement

Structured Settlements — No Comments
11
Nov 10

Five Important Steps Before You Sell Your Structured Settlement: Introduction

With so many companies promoting selling all or a portion of your structured settlement, you may find yourself considering this option.  Whether your structured settlement is the result of a worker’s compensation claim, personal injury, or property loss, the option to convert your structured settlement to a lump sum could becoming increasingly more attractive as a means to meet financial demands.  Unfortunately in today’s economic climate, many are resorting to options they might not otherwise have considered.  Before making the decision to sell your structured settlement, it is important to arm yourself with the necessary information to allow you to make the best decision possible for your circumstances.  As with most things, there are both advantages and disadvantages to structured settlements.  One of the advantages is that the settlement guarantees a specific amount to be paid over a period of time.  This not only protects you from rapidly depleting the settlement, but it also provides a dependable revenue stream over the course of the settlement schedule.  Conversely, the disadvantages include the inflexibility of not being able to access the money when you need it and the loss of potential investment returns.

Prior to 2002 the tax benefits of a structured settlement benefited both the company making the payments and the recipient as the payments made were tax free.  In order to protect the injured party, Congress granted these tax benefits to structured settlements as a means to keep the injured from prematurely depleting their recoveries.   In order to prevent the factoring transactions from undermining the policy objectives of the structured settlement, Congress passed HR2884 which resulted in Internal Revenue Service 5891 requiring all structured settlement factoring transactions be approved by a state court.  The Structured Settlement Protection Act imposes a 40% excise tax on the net sale of a structured settlement that does not meet the requirements of the state and federal statutes.  All states with the exception of Vermont, North Dakota, Wisconsin, and Wyoming have passed legislation regulating the buying and selling of structured settlements.   Over the next five posts, we will be discussing five steps that are essential before you commit to sell a portion or all of your structured settlement.

  1. Do your due diligence
  2. Seek legal advice
  3. Seek financial advice
  4. Decide what you are going to sell
  5. Seek the best offer
Sellers / Structured Settlements — No Comments
3
Aug 10

Sell Structured Settlement Payments for Cash

Things happen all the time that require large sums of money – buying a home, buying a car, paying for tuition, medical bills and more. If you need a large lump sum of cash now, why not Sell Structured Settlement payments? Structured settlements are a result of a large sum of money being rewarded for any reason. The most likely reasons include winning the lottery, insurance money, money awarded by a third party to cover accident damage, or money awarded to a person who experienced negligent medical treatment. Usually it is a very large sum of money awarded in these cases, and to make it easier, the money is structured into monthly installments.

When you decide to Sell Structured Settlement payments you are, in effect, just exchanging the monthly installments for the larger lump sum of cash. The amount that you exchange it for is usually different, allowing you to offer a buyer a win-win situation whereby you get the cash, and they get a slightly bigger amount at the end of the stipulated period. This period can stretch over tens of years, depending on how big it is, and so this works out to be quite a good deal for you if you need all of the money right now for whatever reason.

Quote Me A Price is an online platform that brings you, the seller, closer to many buyers who are interested in your structured settlement. You essentially are auctioning off your structured settlement payments to the highest bidder who offers the largest cash lump sum – so you will be getting the very best deal when you Sell Structured Settlement payments. Don’t settle on the first offer that you receive – shop around, compare offers and see what is available before you settle on any one offer from a single settlement buyer.

All you need to do to take advantage of this platform offered by Quote Me A Price is fill out the request form on the Quote Me A Price website, and then submit it. This request form includes the details of your cash flow, your name, and other personal details. Once completed, you can either opt to send you request directly to those Top Funding firms who will then make you a cash offer, or request free consultation before sending it to firms. So you will always end out on top when you decide to Sell Structured Settlement payments.

If you have already got quotes from funding institutions who are interested in buying your structured settlement payments then you can still take advantage of the Quote Me A Price request form: simply indicate in the comments section that you have already had quotes from such and such, and then your form will not be sent to those firms. The more quotes you have, the higher the cash amount that you get out will be. Use Quote Me A Price to Sell Structured Settlement payments and get the very best deal out of your monthly structured settlement installments.

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