News and Tips on structured settlement transfers.

Marketplace

25
Jun 11

Selling Your Structured Settlement: Don’t Go Broke, Use a Broker- part 2

Structured settlements are payments that are given out by insurance companies to help you cover ongoing costs that you may experience from the result of an accident. These payments are usually annual or bi-annual and are meant to cover living and medical costs. People who receive these structured payments are usually interested in selling these structured payments for a lump sum. By selling your structured payment, you won’t receive the full value of the settlement, however, you will receive a considerable portion of the original settlement.

Selling your structured settlement loans are very advantageous if you are able to invest it and earn a higher rate of return. Most people who are looking to sell their settlements will often use the money to pay off any bad debt they may have or use the money to take out a mortgage loan. No matter what you intend to do with the money, many people feel that they will get more value from selling their structured settlement than keeping it.

If you are looking to sell your settlement, you should know that there are different ways to do it. You can either sell your whole settlement payment or sell partial of the settlement. The best way to go about selling your structured settlement is finding a broker who specializes in selling structured settlements. Because the structured settlement payments are guaranteed income, there are many people who are looking to invest in these settlements to give them guaranteed income. These investors are often looking for a safe return on their investment.

Depending on the company who is giving you the structured company, you may not be able to sell it. Some companies don’t actually allow the sale of their structured settlements. This means that you should find out if you can sell the settlement before you try and sell the settlement. You qualified broker should be able to tell you if you are able to sell the settlement or not.

Structured settlements sales are very common among different people. Most people just look at these sales as a way to get access to instant money. Structured settlement loans are often considered very valuable investments from different people. If you are in a tight financial position, then you should definitely consider selling your settlement. For many people, these benefits often outweigh the negatives of selling. Start your search by finding a qualified lender online who specializes in structured settlements.

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.

25
Jun 11

Structured Settlement Sales: Hunting For Your Buyer

Most people are not prepared for financial emergencies that suddenly pop up in their lives. If you are someone who has been enjoying structured settlement payments, you are fortunate because you can use this to bail yourself out in such emergencies. That is, if you are wise enough to locate a company who will buy the rights for your structured settlement. And, if you are wise enough to find the “right” buyer for your structured settlement payments. If you are interested in selling your settlement, follow these steps when on the hunt for the right buyer.

Step 1: Find out if you can sell your structured settlement payments:

It is only reasonable for the potential buyer to examine your structured settlement to determine whether he can exercise the right to collect the payments. Therefore, find out if you can transfer the rights to him. In most states this is a non-issue, however why waste your time if the sale isn’t a possibility for you? The company will compute its present value to see if he can make a profit from the payments should he be given the rights to receive them. Some companies are looking for more profit than others, so shop around.

Step 2: Don’t look for a buyer in just one place.

The quickest way to search for potential buyers is by using the internet. Look for the companies that offer the best deal in terms of rates and options. There may be local buyers near you so don’t overlook them. Also consider that a small buyer may sometimes give you a better deal because of their low overhead cost. Lawyers and Insurance brokers can also be of help in locating a reputable buyer.

Step 3: Get more than a single offer.

You cannot get the best offer if you only consider one buyer. And, considering that with only slightly more effort you could have a dozen different offers to look at- why not? With two or more buyers, you can get an idea of the real prevailing price. It is not only the price either. Their rates may vary because of the options that they offer. By considering all these factors, you can get the best amount for the options that you want to get.

Step 4: Play Private Investigator.

Get a list of the past and present clients of the buyer that you have chosen. Check with these clients about their experience with this buyer. Ask if the buyer was able to fulfill his promises to the clients and the quality of service they were given. Use this buyer’s history as your gauge if you will finalize the deal.

There are still other legal matters to consider with regards to selling structured settlement rights. But by following these steps, you will be able to find the right company to sell this settlement to. After this, it will be a matter of going to the legality of the sales.

17
Jun 11

Getting the Best Deal on Selling Your Structured Settlement

When you win a civil lawsuit, the damage settlement often comes in the form of periodic cash inflow called a structured settlement. You can also get one from a lottery win or an insurance payout. These payments are almost always secured or guaranteed cash flows. But some people prefer to get a lump sum cash payout and would sell the structured settlement for a discounted cash value today. Just like securing a mortgage, selling a structured settlement is a financial transaction best left to professionals in the business. Unless you have the skill yourself, it can be a good idea to tap into the right people to get the best structured settlement deal. But not all have your interest in mind. It is best to consider the following.

Step 1: Ask your lawyer and colleagues for their input if they had dealt with structured settlement companies before and get some recommendation. It is important to establish their legitimacy and reputation before signing on the dotted line.

Step 2: Shop around and the best place is the internet. Be sure that the structured settlement company has a local address and contact you can verify by calling and is registered with the Better Business Bureau. This is often indicated by a triple B logo on its site. In addition, companies with at least 5 years in the business often tell you they have established a reputation they need to protect.

Step 3: Get quotes from these companies and shortlist only those that can provide the best price without the need to haggle with them. There is no obligation to accept a quote. As a pricing guide, depending on future payment streams, typical discount rates for a structured settlement transaction to convert future cash streams into a lump sum today are usually between 8% and 15%. Most companies have a structured settlement calculator that helps you determine the equivalent cash value of future cash inflows in your structured settlement.

Step 4: Look for online settlement quoting companies that have a network of funders or financiers who can competitively bid for the value of your structured settlement. Bear in mind that these funders earn money by re-investing your structured settlement at the highest yields while giving the lowest possible cash value for your expected cash inflows. It shouldn’t be difficult to spot the highest bid.

You should never accept an offer if you’re not sure. But if the Disclosure Statement or Assignment Agreement contains a Cooling Off period, you can still change your mind and cancel the transaction in case a better one crops up.

17
Jun 11

Selling Your Structured Settlement: Avoid the Scammers

In some cases, you simply cannot wait for the full payment so you decide to sell your structured settlement to a structured settlement company. This transaction presents favorable gains for a structured settlement company in the form of profit. If a structured settlement company offers a lump sum that is too good to be true, think twice for it might be one of the scam companies operating in your locality. Watch out for these scams to avoid losses on your part.

Signs of a Structured Settlement Company Worth Your Trust:

One characteristic of a good structured settlement company is stability. Stability is usually measured by the number of years the company has been in the business of buying structured settlements. Another characteristic is dependability. It is best to find a company who is willing to assist you and give you financial advice from the time you are about to accept a structured settlement until the time when you are ready to sell your structured settlement to them. Credibility is yet another important characteristic of a good structured settlement company. A determinant of a company’s credibility would be the number of satisfied clients they have. If they give you a lot of their past clients as references, then, most likely, you’ve found a credible company. Lastly, a good company puts customers’ needs first before business. If you think a structured settlement company does not give you a fair amount for your structured settlement, find a different company who will consider your needs.

Structured Settlements: The Laws on Selling and Buying

When structured settlements became popular, so did the concept of buying and selling structured settlements. When you decide to sell your structured settlement, the lump sum you would get from a structured settlement company will naturally be significantly lower than the total amount of your structured settlement. Selling it is tantamount to giving the company the rights to receive your future payments stated in the settlement agreement. Many states have enacted laws regulating the buying and selling of structured settlements. As a matter of fact, only four American states do not have structured settlement acts, namely, North Dakota, Vermont, Wisconsin, and Wyoming. These structured settlement protection acts would serve as your protection should you decide to sell your structured settlement for quick cash. Prior to selling structured settlement to a company, the law provides that a detailed accounting of all the fees, charges, and expenses associated with the selling be made available to the structured settlement owner. Conditions surrounding breach of contract should also be discussed to the owner in accordance with the law. Transferring the rights to the structured settlement company is also governed by law as a judicial court is tasked to always mediate the transfer proceedings to ensure that the structured settlement owner is fully aware of the pros and cons of the transfer before approving the transfer.

How to Check if the Company You Have Picked is a SCAMMER:

If the company you are considering does not possess the characteristics earlier mentioned, then most probably it is a scam. If, despite the absence of these characteristics, you are still unsure whether the company you’ve chosen is a scam, consult the authorities. You could make inquiries, either personally or via phone call, to the Better Business Bureau or the National Structured Settlements Trade Association (NSSTA).

15
Jun 11

Structured Settlement Sales: Getting the Most From Your Money

Within the structured settlement sales industry, every company is not alike. If you are in need of a large lump sum of cash as soon as possible and have exhausted all other options, getting a lump sum of money in exchange for your future structured settlement payment rights may be the option for you. . Here are a few tips to help you get the most money out of your structured settlement sale:

1) Research Companies

* Check the company’s Better Business Bureau record. Ask yourself- Is the number of complaints reasonable? Do any complaints raise red flags that this company may be operating in an unethical fashion? Make decisions whether the company uses ethical business practices before you consider going any further with that company.
* Do a Google search on the company. Do you see any complaints? Have the ever gone through any bankruptcies?
* Get the opinion of outside sources and provide the sources with the information you have uncovered. Sometimes a different opinion can be a better opinion, or at the least, may provide you with a different point of view.

2) Get Several Quotes

* Don’t jump at the first offer you receive. Many times companies will lowball a quote to make more profit. After all, these companies are in business to make money and it’s YOUR job to make sure you get the best deal.
* Don’t disclose the quote amounts that you have received from the other companies or the names of the companies you have received quotes from. Use open ended questions to help you find out if the company is going to try and take advantage of you or if they are going to provide a great quote from the start. You will know who is looking out for your best interest once you use this tactic.

3) Closing Date Guarantee

In order to secure more transactions and higher profits, companies will use tactics such as “interest drag” to delay the closing on your structured settlement factoring transaction. Interest drag is the process of prolonging a structured settlement sale transaction to earn interest off the delayed time before the transaction is funded. Sometimes this can lead to thousands of dollars lost on your end.

* Get a guarantee that the closing will be within a reasonable time period. In most states an 8 week guarantee is usually sufficient.
* In the guarantee, demand that any delays will award the a per day amount be paid to you upon closing. This way you will know the company is not profiting by delaying you case.

By using these three tips, you can be sure you will receive the most money for your structured settlement.

10
Jun 11

Structured Settlement Sales: Hunting for the Right Buyer

As you may know from TV commercials, financial news, and from millions for ads on the internet. Sure, lots of buyers will respond to you. But beware: some buyers will make promises they realistically can’t fulfill when they try to tempt you to work with them.

What seemed like an ideal amount at the time of your structured settlement may no longer seem as beneficial now. Whether or medical expenses, a child’s college education, or to settle high interest credit card debt, more and more people are choosing to sell their structured settlement payments now than ever before. Here are a few things to consider before selling to make sure you’re on the right track.

1. Don’t fall for the smoke and mirrors.

Slick buyers will try to impress you with all sorts of “facts”-which may or may not be relevant to your situation. They may tell you great things they’ve done for their great customers, the size of their business, and annual revenues. This is all well and good, but these statistics don’t guarantee the buyer will treat you fairly and find the best solution for both your short-term and long-term goals. So how do you know if a potential buyer delivers on what they say, or are they just blowing smoke?

When the buyer talks, consider whether he or she has:

* Listened to your current and future cash needs.
* Gathered a firm idea of why you are selling structured settlements.
* Offered suggestions to help you reach your current needs without selling
your settlement.

When the buyer listens, consider whether he or she has:

* Actively listened to you explain your problems before giving you any answers.
* Focused intently on you as if you were the center of the universe.

2. Only sell what you need and not a penny more. Of course you want to sell your structured settlement because you need cash and you need it now. Right? Maybe not. Before you sell, ask yourself why are you really selling?

Just because you need money now doesn’t mean you have to sell your entire settlement or annuity. Maybe you need to:

* Buy a house or save one from foreclosure.
* Consolidate credit card debt.
* Finance education.
* Pay an immediate medical expense.

If you don’t have solid reasons to sell structured settlement payments, proceed with caution. A good buyer will tell you this and will offer options that meet your current need for cash, but also provide long-term security. There is no good reason to sell your entire annuity if you only need a portion of it for your immediate needs.

3. Ask questions

There are some things you should know before you sign a contract. Here’s one: ask your buyer what he or she doesn’t do well. A good buyer understands that limitations create focus and focus creates value. Admitting mistakes is a good sign of honesty, integrity, and intelligence. Here’s something else you should know: are there any alternatives to just selling your settlement outright? A good buyer will give you options-and alternatives may mean more money for you. Bottom line: the only stupid questions are the ones you don’t ask.

4. Know the danger signs

Beware of a buyer who:

* Calls you three or more times a day
* Has you speak with someone different each time you call their office
* Doesn’t argue with you ( in a positive way )
* Doesn’t return your calls
* Makes promises about when you will get your money
* Says: “don’t worry about it” or “trust us, we do this all the time”
* Knows less about structured settlements and annuities than you
* Sends you all the paperwork at once

Selling your structured settlement payments doesn’t happen overnight. So watch out for companies that claim: “we can put cash in your pocket in a few days.” Don’t believe it. Find out how long you will realistically have to wait for your money before you sell. If it sounds too good to be true: it is. Luckily, there are many companies to chose from. So find the one that fits your needs- not theirs.

10
Jun 11

Selling Your Structured Settlement: Don’t Panic!!!

If you have been receiving payments from a structured settlement, you may have noticed that these regular payments, at times, do not cover all your expenses. This is especially the case if the victim experiences a secondary complication related to the original injury. This potentially very serious complication could be directly related to the original accident that required legal action in the first place. However, since the lawsuit is over and the settlement amount agreed upon, now you will be forced to make some extremely important financial decisions.

Unfortunately, financial emergencies have a strong tendency to send most individuals into an immediate and extreme mental panic. In this heightened state of anxiety many individuals make very quick and often uninformed financial decisions. This is financially dangerous because, frequently, choices made in this “What-am-I-going-to-do-now?!?!” mental state end up being one of those moments you look back on and think “what was I thinking?!”

Another common problem with making decisions when in a stressful “I need money now” mental state is that many dishonest and self interested entities actually attempt to target those with that precise confusion condition for their own benefit. Scams often use this “trick” to create urgency in the consumer and increase the potential that each particular customer will release their financial information, ultimately leaving themselves wide open to many potentially devastating scam operations.

Simply verifying the credibility of any company, especially those with only an online presence, will be sufficient effort to protect you from majority of the scams present on the web. However, in this “I need my money now” mental state you are also opening yourself up to taking the first bid you can find from a reputable buyer. Reputable alone does not mean they have the best rate.

Approximately 50% of those who have made the decision to sell their structured settlements, have said after the sale that they feel they could have obtained more money by simply comparing structured settlement offers from different funding providers. Your goal when trading in your structured settlement account for a lump sum of money is to get the highest offer. So, it’s time to shop around.

The most successful way to locate the highest offer for your structured settlement is to put some time into researching and contacting multiple funding companies and simply comparing the quotes. This can certainly prove to be a painstaking, tedious, and frustrating process. However, in the end, considering the sale process can take 45 – 90 days before you are approved anyway- why not spend a week or two doing your homework?

Unfortunately, lawsuit funding companies vary widely in levels of professionalism, honesty, and keeping the victims’ best interests at heart. It is highly recommended that you research each litigation funding provider you are considering working with before signing any legal binding contracts or providing any sensitive personal information. It would certainly be considered beneficial to choose a lawsuit funding provider that you feel confident trusting.

And, for our final tidbit of advice today, remember you can always slam the brakes on any deal you may be working on if you feel uncomfortable. Don’t put up with pressure. It doesn’t matter if you’ve spent 100 hours on the phone with the provider representative.. If you want out, get out before you sign and find another provider.

3
Jun 11

Structured Settlement Sales: Finding Quality

No matter if the buyer of your structured settlement payments is a large corporation, a smaller group of investors focusing on such purchases, or even a single individual they will all share some basic qualifications and characteristics that are beyond doubt.

The company you choose to buy structured settlements from you should be a company with a legally recognized structure, should have a good track record, including success with court approvals (which indicates fair disclosure practices and fair dealings), and should be able to provide enough proof to show that they have the means to fund your transaction. Beyond these basic qualities, there are others things that you should look for when choosing a partner to buy structured settlements, and legal responsibilities that all buyers are obligated to by law (although the laws do vary from state to state and country to country).

If you are skeptical of the idea of selling structured settlement payments, you are not alone; and you do have cause to be. Selling your annuity payments is serious and will have several financial consequences which could be either good or bad, depending on your situation. Notably, selling structured settlements is not the right choice for all annuity beneficiaries, but it is a very good opportunity to access needed cash in many circumstances. It should also be noted that certain organizations, such as the National Structured Settlements Trade Association, have publicized the fact that a number of media and organizations have called attention to the practices of some sellers. The Association is not necessarily saying that it is a bad idea to sell your annuity payments, but that the process does certainly require that buyer (or in this case seller) beware.

The option to have a third party buy structured settlements presents a very useful financial opportunity for many annuity recipients. This is a practice that can be put to very good use when handled properly with a reputable annuity payment buyer; but it is also one with the potential for problems. This is a decision that should not be taken lightly or gone into in haste. Selling structured settlement payments requires patience, due diligence, and most of all the choice of an upstanding annuity buyer. The path to finding that elusive person or company who will buy structured settlements starts with learning the real first stage basics about who will buy structured settlements, and continues with learning what your options are and how to find the right funding partner for you.

While I am not endorsing any specific company, nor am I even advocating the sale of your structured settlement- These groups have been listed in the top 10 buyers in relation to the qualities I have written about here today.

1. J.G. Wentworth
2. Peachtree
3. Settlement Quotes, LLC
4. Sovereign Funding
5. Solid Funding
6. Singer Asset
7. Woodbridge
8. Genex Capital
9. Quote Me a Price
10. Stone Street

2
Jun 11

Selling Your Structured Settlement: Haste Makes Waste

Most often when you have come the decision to sell your structured settlement payments it is because you have run into some specific financial need that must to be attended to immediately but can not be handled by your payment amounts. The moment when you have decided to sell is the exact moment when you are most vulnerable to shady business practices, low rates of return, and commission hungry sales people. Pause for a moment and consider how you will protect yourself from the traps laid out for you by some companies wanting to buy your settlement payments. Let’s review things to be wary of when selling.

While this is not to be thought of as a complete list of all the dangers, thinking on these topics before going into negotiations can help you make the right choice on selecting an agency that will treat you fairly. The simple fact of it is that if nobody was going to make money on the purchase of your settlement then no agency would buy it. However, you can find companies to sell to that will treat you well while working on an ethical profit margin for themselves. While discussing the sale, watch for these warning signs that you may be dealing with the wrong company.

An unwillingness to give full disclosure. This is your money we are talking about here. Any company that shies away from fully disclosing all information and explaining the fine points to you is probably trying to hide something from you. These smooth talking “used car salesmen” of the finance world will try to misdirect you while adding hidden costs, unnecessary fees, and even list separate percentage fees under different categories to give you the impression that you’re getting more of your money than you really are.

Anyone that offers to get you cash in weeks or even days. Often you will hear terms like “rapid fund release”, “expedited returns”, or “fast funding”. In this case they will tell you that only their company can offer such quick cash when really they have no real control over how long the process will take. They just want you to sign. As tempting as it is to hear you can have your money in days when you are facing financial hardships, it is simply not possible. The process of selling your structured settlement must go through court approval. It is true that with accurate filing and good preparation you can make this process as painless as possible, but you can count on it taking at least 45 to 90 days to complete.

Poor customer service. Remember! The companies you are talking to want what you have for sale. They are working for you! The easiest way to test the service is to ask questions- a lot of questions. Your sales representative should be right there with an answer to most every question you can think of, and if they can’t answer on the spot you should receive a reply back quite quickly. Quality customer service is a basic principal. If the company you are looking at can not even provide this then ask yourself how well will they handle your court petitions? How many errors will they make resulting in the courts denying your request and further delaying the day you get your money? This is a good sign it is time to walk away and find another company that cares about the sale.

Obviously, finding the company that best fits you for the sale of your structured settlement is going to take some time. Just remember; going slow in the beginning will save yourself many headaches down the road.

2
May 11

Selling Your Structured Settlement – What to Look For

You should give serious thought to whether selling your structured settlement is the best choice for you. But if you’ve given it lots of consideration and decided that it’s your best option, here are some potential pitfalls to look for.

Don’t Be Sold on the First Bid. You should use a site like www.quotemeaprice.com to get bids from competing structured settlement buyers. Even if the first offer you get is attractive, always get comparative offers. Don’t let the competing bidders know what the others have offered. This will ensure that you get independent, objective bids.

Make Sure the Buyer is Reputable. You’ll likely get bids from the big, well-known players in the structured settlement business, as well as some lesser known bidders. You should check out all of the bidders that you’re considering using. Check them out with the Better Business Bureau to see what kinds of complaints have been filed against these companies, and how or whether they’ve been resolved. Typical complaints are that the structured settlement buyers changed their offer after the initial bid; took longer than promised to complete the sale; or tried to sneak in extra fees and charges. If you see lots of the same complaints against a structured settlement buyer, you should consider it a red flag, and consider using a different buyer.

Read Everything. Look over any documents you get thoroughly to ensure that the structured settlement buyer you have chosen is honoring his bid to you, and that he is not trying to add extra fees or charges to the purchase of your structured settlement. The buyer’s discount rate – the rate by which the structured settlement buyer is reducing the face value of the payments you are selling to the lump sum he is willing to give you – should cover his costs, so if the buyer is trying to tack on processing or handling fees, back out of the deal. Ask lots of questions and make sure you thoroughly understand what you’re agreeing to. If the buyer becomes defensive, refuses to answer your question, or tries to convince you that you’re stupid for asking, back away from the deal.

Beware Suspicious Promises. Most structured settlement purchases take at least 45-60 days to complete, so if a buyer says he’ll get it done sooner, he’s probably making a promise he can’t keep.

Beware Excessive Pressure. If anything about the deal doesn’t seem right, if the buyer seems to be changing terms on you or adding fees, you should not sign off on the deal. The buyer may try to play upon your fears to get you to sign, or may use scare tactics. Take a step back and don’t let yourself be unduly pressured.

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