News and Tips on structured settlement transfers.

Cash

Posts Tagged: tips on selling settlement payments


24
Feb 14

Finding an Annuity Purchaser Online

Structured payments have been around for quite a while, and selling these payments and annuities has become commonplace today.  Selling these settlements and annuities can be a viable option for anyone who has a financial need greater than a structured payment can satisfy. Searching for a buyer online is one choice sellers often make, but it isn’t as easy and straightforward as it might seem. Before you start searching the internet for someone to buy your settlement, there are a few things you should understand.

Get the Facts

You should do your research and gather all the information you can before you go online to start your search. For example, take the information spouted during late-night infomercials with a grain of salt. The procedure for selling your payments or annuities is a little more complicated than simply making a phone call. The process is long and time consuming, and will depend on a judge’s decision before the sale can move forward.

Ask for Assistance

Whenever you are thinking of starting a search for a buyer, help from a competent and qualified person can be a great decision. Don’t look to the company offering to buy your settlement for help, though. Instead, choose a settlement broker, who can help you find the offer that is best for you, not the buyer. They can help you get the offers you want quickly, and know who the best buyers are in order to find you the best deal for your situation. Of course, you can do this by yourself, but you’ll lose the benefit of an experienced and intelligent assistant with knowledge of such matters.

Research your Broker

Never enter into a partnership with a broker that you haven’t check out thoroughly. You want help from someone with the background and education to guide you through this tricky process. Choose the broker with a history of providing quality care and service to their clients. Check with the Better Business Bureau to be certain your brokers have your best interest at heart, and not that of the company offering to buy your settlement. A broker is there to help both sides, but you need to be sure to protect yourself from any unscrupulous dealings.

There are many things to consider when deciding to look online for a buyer for your structured payments and annuities, but a competent and qualified broker can ease the stresses involved and make the process much smoother.


10
Feb 14

Helpful Tips for Selling Your Annuity Payments

A reliable and steady income from annuity payments or structured settlements is essential for many people to live comfortable and stable life. Sometimes, however, a situation arises that requires a larger lump sum than is possible with payments. When this happens, having access to a large sum of money can be the difference in turning a bad situation around. Selling your settlement may be an option when the need arises, but careful consideration must be taken to decide if you really want to sell.

A Matter of Time

Time is but one of many factors you need to consider when you are thinking about selling your settlement. If you need money immediately, then selling your structured settlement is probably not going to be the best option. It can take a month or longer to go through the process of selling your settlement, depending on your state and local laws concerning the practice, and any court decisions regarding your need to sell. You must weigh the time factor heavily if you are thinking about selling, if your needs cannot wait, you may want to seek other options.

Options for Sellers

Before you sell your settlement, you should think about exactly why you need to sell for a lump sum. If you rely on the regular, smaller payments to pay bills and meet financial obligations, then only sell a small amount of your settlement. If need be you can sell larger amounts, even the full amount of your settlement, if you absolutely must have a large lump sum of money. You should be aware, however, that once you sell your settlement, you are no longer entitled to any payments other than your lump sum payout.

Possible Fees are Another Consideration

Sometimes, there are large fees, called surrender fees, which you should consider before making your decision. Taxes on your settlement or annuity may also need to be paid as well. Work with an expert firm, with a reputation for connecting sellers and buyers, which can be helpful when making these considerations. Working with a brokerage or firm can help you get all the information you need to make smart, well-informed decisions concerning your annuity payments.

When you decide to hire a brokerage firm, make sure to research them carefully, and look for one with a reputation for putting sellers in touch with the best, highest quality companies. The will ensure you get exactly what you need to meet your financial goals.


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.


23
Dec 13

The Possible Problems of Selling Your Structured Settlement

After suffering injuries or damages, you may be awarded a structured settlement to ease financial difficulties and help relieve any pain or inconvenience you might have endured.  Although, you may discover that your structured settlement payments aren’t meeting your needs and may considering selling them. While you can sell your settlement in part or in whole, it isn’t a simple process. Some problems can arise, but if you know what to do, you can avoid them.

Appearing before the Judge

Many people don’t realize that in order to sell their payments, or “transfer” them, they must go back before a judge. Deciding whether or not the sale is actually in your best interest is the judge’s job, and they will consider many criteria when making this decision. The judge will look at your financial situation or circumstances and base their decision on that. And, he will deny your transfer if your immediate need isn’t proven to their satisfaction.

Examining your Offer

The company making your offer can also be a factor the judge looks at when determining your best interests. Your transfer will be denied if the judge decides the terms they are offering are not fair to you. What terms will the judge consider to be fair and in your best interest? In this case, the judge’s job is to make sure you aren’t ripped off, and that most of the funds awarded to you actually go to you and aren’t lost to the buying company. The amount varies from company to company (which is why it pays to comparison shop when looking for a buyer), but many times you can get up to 90% of the money you are owed.

Hire a Professional

You may not realize it, but having a competent lawyer on your side can be important if you are considering selling your structured payments.  Competent counsel from a lawyer can give you an idea of whether your offer will be approved or denied by a judge. They can also stop a predatory company from taking advantage of your situation and ripping you off.

Compare Companies

Comparing offers from competing companies is the best way to ensure you get the best deal, and an expert settlement broker can get you offers from many companies in a short amount of time, allowing you to choose the best company for your financial needs.


9
Dec 13

Use a Settlement Calculator to Determine Value of Your Settlement

Those who are in structured settlements are going to be receiving installment payments over the course of a certain period. The length of time of the settlement can vary, as can the amount of the payments. Many factors contribute to this, and the actual value of that settlement can even vary over time due to things such as inflation. Those who are trying to get a better idea of how much their settlement is worth should use a settlement calculator to get started. This can give them a better idea of the value of the settlement, and it can help them to determine if selling the annuities is the right thing to do.

Finding a settlement calculator online should not be much of a challenge today. Plugging in the numbers, including the number of payments left on the plan and the amount of those payments, can help to give you a better idea of what it is worth. Of course, you have to consider other things as well, such as any applicable discount rate. It might be a good idea to input your numbers into several calculators just to make sure that you are getting the actual value.

Knowing the amount that you have remaining can help you determine whether you might want to sell for a lump sum. Try to find a firm that is going to be able to offer you the best deal possible on the amount of money that you have remaining. Always take the time to consider just how much money you need right now to take care of your financial problem. Instead of liquidating all of the payments that you have coming, you might find that you only need to liquidate a portion of them. Use the calculator to determine how much this would be.


2
Dec 13

Why Should You Cash in Your Annuity

Getting an annual annuity payment makes a lot of sense for some people. An annuity can afford you the security and reliability of a regular income, regardless of whether it is from an insurance policy or from winning the lottery. Or at least, that’s what it is supposed to do. Annuity payments can guarantee you a regular income over a specific time-frame that allows you to live a normal life and plan for your future. Things don’t always work out like we want, however, and sometimes annuity payments aren’t as beneficial as we would have thought.

Growing Expenses

Some people may need to cash out their annuity to pay off unforeseen expenses, like emergency medical bills, that can arise suddenly through no fault of your own. Annuity payments may be great for the average person’s everyday life, but a medical emergency can quickly become too expensive for your payments to cover and leave you owing a lot of money. Annuity payments are nice for what they are, but if you find yourself in an unfortunate situation, then you may find yourself facing mounting bills and calls from collectors when your income simply can’t cover all your expenses.

Where to Look

When looking to cash in your annuity, there are things you can and can’t do. You can’t simply go ask for the rest of your money at the bank, for example, even though technically all the money is yours to begin with. They don’t have to give you anything until time for one of your payments, and then they will give you that, and only that, which you agreed upon when setting up your payments. However, you can sell your annuity to a company that specializes in buying annuities and structured settlements. This will let you get a lump sum of cash to take care of any needs or circumstances you might have found yourself in. Paying for education, repairing your home or car, paying bills, whatever you need to do. Not all buyers are the same, though, and different companies may offer differing amounts for your annuity. That’s why it is always a good idea to shop around and compare offers to make certain you get the right offer for you. That is why working with a broker is a great idea. By using their knowledge and expertise, you can get the offers you need in a timely manner, and be able to choose the option that is right for you and your family.


25
Nov 13

Find the Best Annuity Buyer

Most of the time, an annuity is going to be a relatively small payment given yearly, or monthly with the case of some types of settlements. Having that money coming into your pocket each month can be nice, but sometimes, it just is not enough to take care of all of the emergencies that can crop up. Medical expenses, home repairs, and other issues could all cause huge problems in your life if you do not have the money to pay for them. Those who are receiving payments do have another option though.

You could consider finding an annuity buyer that would be able to purchase the payments from you and provide you with a much larger payment. This can be quite valuable for those who need to have money right away. However, you need to make sure that you are working with the best buyer possible and the right one for your needs. One of the things that you have to remember though is that if you do choose to sell the annuity, it could have some tax implications. Make sure to consider those when selling, and talk with a professional about how it could affect you and how you might need to claim them on your taxes.

Take your time to find a reputable annuity buyer who can work with you. Look at the offers from a couple of different companies so that you can be sure you are getting the best deal for the annuities you are selling. Get a number of quotes from those companies and research the companies to see how long they have been in business and what other users have to say about them. The more research you do now the happier you are going to be later. Find the buyer that is right for you.


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.