News and Tips on structured settlement transfers.


Posts Tagged: annuity buyers

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.

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.

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.

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.

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.

Mar 13

How to Sell Your Annuity Payments

In the long run, annuity payments can provide a reliable and stable source of income. However, many annuities will be paid over a considerable amount of time, such as lifetime payments, which can go a long way toward providing for those with limited income potential. As ideal as structured payments are, however, they might not be perfect for every situation or instance. They may not be right for you as well, if you are considering selling your annuity payments.

What are Your Needs?

You can’t sell your payments for something trivial, like an RV or a vacation. Any planned structured settlement transfers – such as your annuity – go before a judge who will look at all the facts of your case. Once there, you will have to demonstrate your actual need to his satisfaction – your need for a transfer must be vital or urgent before it will be approved.

Look for Buyers

If the judge determines your need warrants a sale or transfer of your structured settlement payments, you will need to find companies who buy settlements and annuity payments. There are many companies to choose from, but it can be hard to locate and contact a reputable and trustworthy company. You will need to put in a lot of time and effort to find a company that can satisfy your needs. After locating a few possible companies, you’ll need look over and compare the offers they will make to you.

Choosing the Right Company for You

Researching companies and entertaining offers can be a daunting task to take on by yourself, but there are alternatives to making a go of it alone. Many experienced structured settlement companies have contact with some of the most reputable and trustworthy buyers of settlements and annuities. Using a competent broker can be invaluable when selling your annuities. With the right structured settlement broker, you could start receiving offers shortly after completing and turning in your information to them.

Perhaps the biggest benefit to using a settlement broker is having a competent and skilled advisor working on your behalf to ensure you receive offers from the most reliable and trustworthy companies, eliminating the fear of finding yourself trapped by an underhanded, predatory company who only care about getting your money. A helping hand can provide some significant peace of mind, and a competent structured payment settlement broker can provide this, and more, when you choose to let them help your sell your 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.

Mar 13

Facts You Need to Know Before Selling Your Annuity

An annuity payment may provide you with a steady and reliable source of income, but this may not be enough if the need for a large lump sum of money arises. But there is a way you can receive a large sum of cash instead of scraping by on smaller payments. Selling your annuity might be a viable choice for you if the situation does come up, but there are things you should know in order to determine if this is the right option for your needs.

Laws and Regulations

Before attempting to sell your annuity, you should find out what the state and federal laws are that could affect your sale. Each state is different, so you need to be sure any offer falls within the guidelines set forth by lawmakers to ensure a sale is both fair and warranted in your situation. Legal counsel can be invaluable, and help guide you through the murky and often complicated process of selling your annuity.

Check the Percentages

Another important factor to consider is how much money you would receive from a proposed sale. Naturally, you won’t get 100% of the money owed to you through the annuity, as companies are in business to make money. Companies generally pay a percentage of your total annuity, based on your total amount, your payment terms and other factors. Companies vary in the way they make offers and do business, so careful comparative shopping is a must. Carefully considering each company and comparing offers will guarantee you will get the best deal you possibly can.

Get Multiple Offers

You should get as many offers as you can when deciding to sell your annuity. That way, you will have many different options and offers to compare, giving you the best set of choices to help you in your time of need. A broker can help streamline this process, enabling you to get many offers quickly and help you to make the best decision when it comes to complicated financial matters such as those involved with selling your annuity.

By using the information supplied to you, making the decision to sell or not to sell becomes considerably less difficult. There is a lot to consider before making your decision, however, and a competent and knowledgeable broker can help you make the best choice for your financial future.

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.

Jan 11

Who Wants Your Annuity?

Someone who has a structured settlement and is considering a sale of it may wonder who would want to buy.  And why? 

The purchase of structured settlements as an investment opportunity is getting more play in the media.  It’s new (not really)!  It’s different (well, OK)!  It gives a great return (correct)!  The allure is understandable:  for an up-front infusion of cash, an investor can take over an existing stream of payments.  Because structured settlement buyers use a discount rate to figure how much they’ll pay, they can control their profits – and rate of return.  With discount rates often in the double digits, the return on a structured settlement can easily beat any stock or bond available in today’s markets.

The current recessionary economy has also created a boon for settlement buyers.  With the economic downturn, structured settlement annuitants are highly motivated to sell.  They need cash to pay medical bills, to survive unemployment, or to hold off foreclosure.  The more desperate the seller, the more likely they’ll accept a highly discounted settlement, and take the deal fast.

Another reason investors love structured settlements:  security.  Most annuities are created when a lawsuit defendant takes a lump sum to an insurance company and purchases it.  The insurance company is able to invest that cash and earn enough interest to make the payment stream to the plaintiff.  These investments are locked in, and usually protected.  As a result, the payment stream is relatively secure.  As long as the insurer stays in business, the payment stream is a certainty.  The only thing the buyer has to do is sit and wait.

But getting into this business can be tough.  Of course, you’ll need access to cash in order to make those initial purchases.  You’ll also need a reserve of cash to meet operating expenses while you’re waiting for those first settlement payments to come in.  You’ll need help navigating the regulatory environment surrounding the sales of structured settlements.  All states have a strict process and timeline for sales, and all of them include a “cooling off” period in which the seller could change his mind.  You might invest a lot of time and resources into a purchase, only to have the seller back out at the last minute. 

Finally, there are a number of very big players in the market who do a high volume of structured settlement buys.  In order to get noticed in a bidding environment like QMAP, you’ll have to make your bid stand out – this may mean taking a lower profit.

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.

Jan 11

Why a FA is an Annuitant’s Best Friend

So, you’re thinking about selling that structured settlement.  Hoping to get a big cash payout.  Got big plans for that money.  So, what next?

Your state may require you to consult with an attorney and/or financial advisor (FA) before you finalize the sale of your settlement.  Even if it doesn’t, finding some good advice is a great idea, even if it costs you a few bucks.

What am I really getting?  A good financial advisor can look at the details of the deals being offered to your by competing buyers (if you haven’t shopped your annuity to more than one buyer, do it now – QMAP offers a free and easy way to get competing bids) to give you a good idea which one is best for you.

Should I Sell at All?  A financial advisor will ask you about the reasons why you’re looking to sell your settlement.  A good FA will try to find alternatives to selling.  Remember that an annuity is designed to ensure you can cover your expenses for a fixed period of time, so you should be sure you’ve exhausted all other possibilities before you sell.   A good FA might find something that you haven’t yet considered. 

Dirty Tricks.  When you seek out a financial advisor for help, find one who’s had recent experience in selling structured settlements.  Chances are, he’s seen what buyers try to do to bump up their profits:  change the deal midstream; introduce new “processing,” “legal,” “administrative” fees; or something similar.  The buyer’s costs should be met as part of the deal, so if you’re asked to pay in additional fees, consider this a red flag.

Details of the Deal.  A financial advisor can look at what’s being offered to you, and figure out how you’ll really come out in the end.  The discount rate is what buyers use to scale back the total amount of your annuity and figure out what they’re willing to pay.  A good FA can figure competing discount rates.  The lowest discount rate – although it means the best lump sum payment for your annuity – can be a sign of trouble if the prospective buyer tends to float a favorable offer, only to pull it back later.

Who Are You?  Still, don’t just trust anyone who hangs a “Financial Advisor” shingle outside his door.  All those letters after his name should mean something, and a few quick Internet searches will tell you what.  Ask him specifically about his experience with structured settlements, and find out how recently he’s handled one.

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.

Jan 11

Structured Settlement Concepts – Annuities

If you’re the owner of a structured settlement, you may hear the term annuity a lot in connection with your settlement.  What does it mean, anyway?

An annuity is defined as a financial product sold by financial institutions that is designed to accept funds and then pay out a stream of payments to the individual at a later point in time.  Annuities have lots of uses, but in the case of a structured settlement, they allow a defendant in a lawsuit to set aside an amount of cash less than the court-ordered amount.  The amount that goes into the annuity is invested, allowing the amount to grow until it is sufficient to make payments to the plaintiff over the course of several months or years. 

So why would a settlement be arranged like this?  Why doesn’t the defendant just pay you what he owes?  Most likely, the defendant doesn’t have that kind of cash on hand to pay the total lawsuit award, so the structured settlement allows him to satisfy your claim with the cash he has.  Typically the defendant will purchase the annuity through an insurance company.  The defendant pays in enough to be invested and make the future payments, and he’s done.

But there’s another purpose to the structured settlement annuity, and it’s meant to protect you.  If you’ve been injured in an accident, you may be disabled and unable to work.  The structured settlement ensures that you will have a steady stream of cash to pay your living expenses for a fixed amount of time.  It prevents you from spending everything right away, and because the payments come in intervals, there’s no chance the money will burn a hole in your pocket.  The structured settlement protects you from you.

However, you may be facing unforeseen circumstances, such as medical or legal expenses, or tuition, and need access to the full amount of your settlement now.  So, you may sell all or part of the structured settlement payment stream for a lump sum of cash.  Just remember:

  1.  You will get less in a lump sum than you would have received over time.  The buyer of your settlement will use a discount rate to reduce the amount of your total settlement to today’s dollars.
  2. Structured settlement buyers are companies looking to make an investment and turn a profit.  They are not in business to help you, so make sure that selling is your best and only option.
  3. The sale of a structured settlement will take some 45-60 days, or even longer depending on your state.  If you need money sooner than that, selling your settlement won’t help.
  4. Selling is forever.  Once the payment stream is sold, you will never have access to it again.  If living without your annuity is an unpleasant thought, don’t sell.

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.

Let Companies Compete to Buy your Structured Settlement!

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