cash for structured settlement

If you've agreed to accept a structured settlement, it's likely that you felt a sense of relief that your financial uncertainties were being resolved, and that you'd have the funds necessary to pay your bills, support your family and go on with your life. When you agreed to the terms of the settlement, hopefully with the help of a financial advisor, you accepted a series of financial payments that made sense for you at that time.

Perhaps you'd suffered personal injury in an auto or other accident, you were awarded damages in a product liability case, or you were the victim of medical malpractice or were even the plaintiff in a wrongful death suit. You agreed to a periodic (usually monthly) payment, maybe in the form of a lifetime income stream, that seemed to be the answer to paying your ongoing living expenses and perhaps your medical costs. You made the best decisions you could at the time, with the information you had - based upon how life was then, and what you expected for the future.

But life seldom works out as we expect. Maybe you're on the road to recovery from the accident or other event for which you received the settlement, and want to move and buy a house, get married, go to school, or buy a business. Maybe medical bills or high interest debt is an undue burden on you that you need to resolve now. Or, if your family has grown, and your children no longer need for you to provide for their education or other expenses, you may want to spend more of the money you have coming to you now, instead of later.

What can you do to match your finances - specifically your structured settlement - with the life you now have or want to have? You should always consult an attorney or a financial advisor, but here's a basic overview of your rights and options in assigning your structured settlement:

Settlements are funded by single premium annuities, issued by insurance companies. Instead of paying you a lump sum amount, the party found responsible for injury or damages to you has paid a one-time lump sum to an insurance company, which has, in turn, invested it. The insurance company has projected the interest rate or securities dividends they will receive on the lump sum, and based upon the length of time and number of payments you chose or were offered for the structured settlement, they calculated the periodic payment amount you're now receiving.

So who owns what? The insurance company owns the annuity, and you, as the beneficiary, are entitled to an income stream, or the series of periodic payments. Because you don't own the underlying asset, the annuity, you therefore can't sell the annuity contract to another party to receive your money. However, under federal and state law you can, with court approval, sell all or a portion of the payments you are entitled to receive in the future. In doing so, you can receive a lump sum cash payout now.

What are your options? As an annuitant, or the beneficiary of the structured settlement annuity, you are, in most instances, able to assign to a third party the payments you are entitled to receive in the future. Some Structured Settlement Agreements state that payments cannot be assigned, and your legal counsel will advise you of options and alternatives if yours is written with such a clause. Fortunately, state laws and case law has recently provided a written contract, the implementation of these provisions, even though other requirements may apply.

How can you determine today's lump sum value of your structured settlement payments? This depends, in part, upon the amount of each payment and when it is due. The payment amount and schedule will be outlined in your Structured Settlement Agreement. It is also affected by the financial strength of the issuer of your annuity, because the better the financial position of the issuer, the more likely it is that the purchaser of your cash stream will be paid. The current financial climate, as well as interest rates will also affect your cash-out amount. Your financing company will explain these calculations and assumptions to you.

What steps do you need to take?

- First, you really need to take a hard look at whether receiving your funds now will truly be best for you and your family. This is a big financial step, not to be taken lightly. That said, your circumstances may have changed sufficiently so that a lump sum or partial payment in the form of a lump sum makes sense, and is better for your family's current and future lifestyle and financial stability.

- Next, contact a reliable financing company that purchases structured settlement income streams. They can guide you through the process and help you consider alternatives, such as the sale of a portion of your structured settlement income stream, if this best meets your needs.

- The financing company will assist you by hiring an attorney experienced in structured settlement assignments. The attorney will explain to the court your desire to change your settlement, and any changes in your life that have caused you to make this decision. Because the attorney will be petitioning for judicial approval, he will need to understand your current finances, obligations and desires.

- Having all your documentation and agreements, and furnishing them promptly to your advisors and potential funding sources is key to receiving a cash payout in the shortest possible time. Because court approval is required, the time from the initiation of the request to the final approval is typically 45-90 days. So, just as with other large financial decisions, such as obtaining a mortgage or refinancing, it's in your best interest to begin the process with a little time to spare, before you feel a time crunch. You deserve an equitable deal, as quickly as is possible, not just the deal you can make in the very least amount of time.

- What can you expect now? Once you have chosen a finance company and attorney, the courts will put you on the docket and hear your petition for receiving your funds in a lump sum. They'll want details of the future payments due you, the proposed amount of the lump sum distribution, and any costs you will incur as a result of restructuring your settlement. Their basis for granting you an approval is satisfying themselves that the assignment of your payments to another party and receipt of current cash will be in your best interest and in the best interests of any dependents you may have.

- Once you've agreed upon a lump sum amount with your finance company, and obtained court approval, you'll receive a wire transfer or a cashier's check for your lump sum amount. You'll now have the cash you need - right when you need it most.

Sovereign Funding Group is an experienced, reputable company that offers convenient, no-risk services to help you with the selling of your structured settlement.

cash for structured settlement

There are a lot of benefits to owning a structured settlement annuity. Structured settlement payments provide long term financial security for you and your dependents, and the payments and earned interest are tax free. However, if you need the money or simply have better investment options, you are entitled to it.

According to federal law HR 2884, you have the right to sell your structured settlement payments tax free. In addition to federal laws, more than two-thirds of states in the United States allow the sell of structured settlement payments. In both cases, however, the transaction must be approved in court in order to stay tax free.

Getting Approved By A Judge

It is quite easy to be approved in court to sell all or part of your payments structured settlement, as long as you can prove that there is no need of money. The judge will review your case to see if the transaction will benefit you and your dependents.

As long as you are an adult of sound mind, and you can proved that you and your dependents will benefit from the transaction, the judge has very little reason to deny your case. Keep in mind that appearing at the hearing may help your cause. If you are not approved in court, you can still sell your structured settlement payments.

Selling Your Structured Settlement Without Approval

In most cases, the purchasing company you are working with will still buy your payments. They will simply do some extra legal work to get the sale finalized. You are not charged for this extra effort; however, without court approval, you may be liable to pay taxes on the money you receive.

The Whole Process

First, you must get quotes. You will almost always benefit by getting multiple quotes. If you like a quote that is given, you will send in copies of the structured settlement policy to the purchasing company. The purchasing company will send you a disclosure document to sign. This document explains the conditions of the transaction. It must be singed and returned.

Next, the court order process will begin. Depending on your state of residence and your insurance company, the process can take up to 90 days. In most cases, once you are approved, you will receive your money within 10 days.

About the Author: Chris Padgett runs a structured settlement website designed to teach you how to get the most out of your structured settlement, whether you're signing a contract or selling your payments. Want to get cash for your structured settlement payments?

cash for structured settlement

There may come a time when you need to sell your structured settlement, because you need money for an emergency or just to keep your home. There are millions of reasons why you might need the money, but the good news is, you might be able to sell your structured settlement fast.

Being the beneficiary of a structured settlement comes with a whole new life of choices and if you make the wrong one, you may simply start losing money! Maybe you had a a workers' compensation case and you wanted to cash in your settlement or maybe it was a personal injury settlement. Whatever it may be, you should carefully look over the choices before you. The question you need to ask yourself, "will this be a good decision for me financially?"

Your first step is to consult with his lawyer and looking at all aspects of what you can get, and it's worth your time. Second step, is to make sure that the company your dealing with is legitimate. Don't just pick a company that is advertising on TV who states they can get you fast cash, without investigating their backround. The Internet is a great way to investigate companies by typing in their names, but be cautious, because sometimes the information online is not correct.

Remember, a good investigator looks for facts and evidence, so if you're going to get the money you deserve, research hard! Who should buy your annuities? A company that has sound principles and does not have a reputation for taking people to the cleaners later on. Look at how the company handled people in the past and if you know someone who has used the company, your way ahead of the game.

This is where it can get tricky, if you live in a state where there are restrictions on structured settlements, you may be in for an unhappy surprise. There are states that require payments as installments, instead of receiving a lump sum. This can be an unwelcomed experience because you happen to live in a state with different laws, then what you read about online. This is why after finding information on cash for structured settlements that you discuss the matter further with an attorney.

One important point that is not mentioned in most structured settlement articles online, is talking with someone who has already been down this road in your state. If someone is willing to share their experience and what they did to get the full value of their structured settlement quickly, you will have a great advantage.

One of the possible benefits of cash for structured settlements is avoiding taxes. There may be public assistance available you were not even aware of, because you have a structured settlement. Have a list of questions ready for your lawyer after you have thoroughly researched the Internet. There is nothing worse then not getting all that should be coming to you, because you didn't know what to ask. Everyday someone is making money off of someone else's ignorance, so it's up to you to get the facts.

For example, your structured settlement may not allow you to make purchases in the future, because the money is not there. The purchase of annuities may result in high commissions, leaving you with a low yield. You need to carefully weigh your options and do some number crunching, because you can't trust that everyone else has your best interest like you do. Remember, where there's an upside, there is also going to be a downside, so make sure you look at the pros and cons of both.

Here are just a few things you need to be aware of before you enter into an agreement. Watch out for the taxes and find out whether or not they apply to you. Learn about your contract and find out if there are restrictions that keep you from being able to legally sell it. Last but not least, be on the look out for low offers, which can happen when money is on the line, namely yours. The key is to talk with your lawyer about any possible future problems you may run into.

The lawyer may not have all the answers, but it never hurts to ask. It's always helpful to find out what a fair selling price for the settlement would be. It's your right to know and it's your time to put the law on your side.

Duane Johnson is a law researcher who knows a thing or two about putting the law on your side. To learn more about your rights and getting what you want hurry to: http://www.cash-for-structured-settlements.info/

cash for structured settlement

There are companies that specialize in getting you cash for structured settlement payment or annuity payment plans that you may have. If you have been involved in a personal injury lawsuit, you may have reached a settlement agreement that brings you a large award, but doles it out in smaller amounts over time. This means you receive a guaranteed income of those amounts each month or year, until the full amount has been paid. Some settlements even result in payments for a lifetime, which can be a lot of money.

The purpose of the structured sum is to benefit the recipient by assuring they have money income on a regular basis, for a certain period of time set out in the mediation meetings where the settlement was reached. Some settlements are structured even for small amounts, over time. There are certain tax advantages that may occur if you take the settlement over a long period of time, rather than in one big lump sum, so you end up with more cash in the long run.

Still, there are circumstances that arise that make you wish that you had taken the lump sum. It's never too late, because there are companies that can give you, in effect, a cash advance on your future income Agreement. They buy out all or part of your settlement, and you get cash now. They do charge a fee, in the neighborhood of ten to thirty percent. They take on the risks of possible future inflation that will make the money worth less than now, and they advance you cash now. It is a bit like a payday cash advance loan, but for a lot larger sum of money.

Since the settlement is a legal agreement, in many states it is necessary to get a judge to approve any changes, or cash advances against the settlement. This is for your protection, to see that this action is in your best interest in the protective eyes of the court system. If someone has large, ongoing medical expenses, it may not be the best thing to do. If you want a down payment to buy a home, it may be a good thing to do.

If you take a full lump sum of cash for your structured settlement payments, you are responsible for using that money wisely, and in your interest, because you will no longer have that guaranteed income to rely upon. Getting cash for structured settlement payment or annuity payment plans can be a real help. However, be sure to check around for the best deal, and the most reliable advance company, before you do anything. It never hurts to be extra careful with money.

For more information or a free quote on getting cash for your structured settlement payment, contact Professional Settlement Buyers

cash for structured settlement

Just because you received a structured settlement for your lawsuit, it doesn't mean you have to wait for years to get the money. There are many settlement purchasing companies that will give you instant cash for your structured settlement. These companies can pay cash for the entire structured settlement or purchase your remaining periodic settlement payments. You can spend this lump-sum payment on anything-a house, college tuition, business investments or debts.

What Is a Structured Settlement?

A structured settlement, which typically results from a personal injury lawsuit, is an agreement where you consent to accept payments over time in exchange for the release of liability for your claim. A structured settlement can provide payments in almost any manner you choose. For example, the settlement may be paid in annual installments over a number of years or in periodic payouts every few years.

These payments are generally awarded through the purchase of one or more annuities from a life insurance company. Structured settlements can also be used with lottery winnings, contest prize money and other situations with substantial cash awards.

Structured Settlements Not Always the Best Fit

In theory, structured settlements are designed to provide long-term financial security to injury victims through tax-free payments. And for most people, the agreed-upon structured payment plan initially makes sense. However, a financial emergency, a business opportunity, an unforeseen medical expense, or a house purchase can put a strain on the injured party's finances.

And the structured nature of the settlement may become too restrictive to cover major financial purchases. Also, a structured settlement may not be the best option for investing. There are many other investment vehicles that can generate greater long-term return than the annuities used in structured settlements. Therefore, some people may be better off getting cash for their structured settlement and then building their own investment portfolio.

How Getting Cash for a Structured Settlement Works

If you receive an award from your injury case, an attorney or financial advisor will likely recommend setting up periodic installment payments instead of giving you a lump sum of cash up front for your structured settlement. Then, an independent third party will purchase an annuity that will provide you with tax-free periodic payments.

Companies that offer cash for structured settlements have a variety of programs that can allow you to access any portion of your annuity. For example, you may want to sell as little as four year's worth of payments or receive a lump-sum payment while still enjoying some portion of your monthly payment. Or you can sell your settlement for a large payment that is five or six years in the future. You can also customize an arrangement to get cash for a structured settlement based on your unique needs.

Here's an example of how obtaining cash for a structured settlement works: Let's say you were in an accident five years ago. The accident caused you to be hospitalized for several months and undergo nearly a year's worth of physical therapy. So you hired an attorney and sued the responsible individual-or, rather, the person's insurance company. Ultimately, your attorney advises you that you'll be awarded a substantial sum of money.

After several months or years of negotiation, you receive a sizable settlement. However, the cash you get upfront is only enough to cover the medical expenses. The rest of your compensation is scheduled to be paid out in regular installments through an annuity over the next 15 to 30 years. Rather than being restricted to monthly or annual payments, you contact a settlement purchaser to secure immediate cash for your structured settlement. You're then able to use the cash to enhance your current cash flow-rather than waiting on periodic future payments.

Legal Issues of Receiving Cash for a Structured Settlement

If you're contemplating getting cash for your structured settlement, it's important to contact a financial advisor. Most states have regulations that limit the sale of structured settlements, so you'll need court approval to receive cash for your structured settlement. Federal restrictions also may affect the sale of structured settlements to a third-party individual. And some insurance companies won't transfer annuities to third parties.

Also, before you attempt to obtain cash for a structured settlement, be sure to do your homework. Check out multiple companies to see which one can offer you the most cash for your structured settlement. You also want to examine their integrity, reputation and track record. This will help ensure you have the most positive experience obtaining cash for your structured settlement.

The receipt of cash for a structured settlement is the ideal choice if you need a lump sum of money to meet urgent needs.

David Springer is a consultant for Sovereign Funding Group. Sovereign Funding Group is an experienced, reputable company that offers convenient, no-risk services to help you with the selling of your deferred payments and business financing, including providing cash for your structured settlement.

cash for structured settlement

Lump Sum Structured Settlement Overview

You may have been injured and a lawsuit was granted in your favor. One scenario is as follows. For the next 30 years you could be receiving steady monthly payments that increase every year by 3% this is called a structured settlement from a lawsuit or personal injury settlement. If you are getting say $700 a month for next 30 years or 360 months this comes out to $252,000.00 there are other options to this settlement. These $700 a month payments seemed great in the start but now you need more money, lots more. You can get more money from your settlement read more to see how. You may have received the first 5 years of the 30 and now you are wondering if there are ways to sell or get more cash from your settlement. Some problems with this are that you cannot borrow against it, nor use it as collateral. What is permitted is an option outlined by law to sell some or all your future payments in exchange for a lump sum. A court order must be obtained to allow a lump sum for structured settlements.

Get a Lump Sum of Cash For a Structured Settlement.

Now because of rising expenses and a need for cash the desire may be a lump sum. Structured settlements have advantages and disadvantages when thinking about keeping them or holding on to them. Lump sums of cash as approved by a court order can be used for many of the following:

• Down payment on a new home
• Get out of debt that you are drowning in
• Pay off credit card bills
• Pay medical related bills and services
• Buy a new device or equipment that would help your disability
• Pay piled up business expenses or fund a business
• Education tuition and school bills
• New car or payoff of a car
• Home improvements that are desperately needed, such as a new roof

The final decision will ultimately be the judge that is looking at your request. Most requests are approved, but it is not guaranteed that all cash transfers will be approved. There are some items in the settlement that may not allow for the sale of future payments, there may be a non assignment clause, an age to sell clause or other type of restriction. In any case when you need a lump sum from your structured settlement there are ways to do this and it is fairly common now to get cash from your future payments. Find a present value calculator on the web and see what your future payments are worth today. This will help you get a ruff estimate of what the future payments are worth. The settlement funding companies will have their own risk rates for present value.

Use the calculator to see what the ballpark amount would be. When researching to find a good buyer one way to select is to contact the national better business bureau by phone or their web site to see if they have a low amount of complaints. Now you are ready to get a lump sum of cash for your structured settlement. Get the process started now.

Must be interviewed or asked to solve many of the acquired companies, such as how long they are in the business, if they have a legal team to deal with their cash if the structure is their main business lines.

cash for structured settlement

Usually, lawsuits take a large amount of time to be settled and in the case of a lawsuit due to injury or such can take up enough time to put you into a total fix before you can receive your settlement in the form of structured settlements. Even after the structured settlement is in its way, you may find the monthly income from this settlement insufficient to pay for the mounting bills and expenses. In such cases there is always an option to convert your structured settlement into a lump sum pay through the agents of a structured settlement funding company.

This process is very simple and effective when gone through an efficient and trustworthy company you can get the cash amount transferred to your account in just a matter of a couple of months.

Let me explain this simple process in detail. All that is required from your part to sell your structured settlement is to visit a reputable company that is ready to compensate a cash for your structured settlement. I recommend doing some homework on the company through the BBB and see if they have any reported complaints or ongoing cases. Most companies will have friendly websites where you can fill out a simple form stating your basic identity and your requirements and an expert will talk to you on the facts and processes of getting cash from your structured settlement. Discuss all your issues with the expert stating a clear and sufficient reason for you to get a lump sum. It may anything from currently unaffordable medical bills, household expenses, to your children's education.

Make sure that you are satisfied with the regulations and norms set on this process before making any decision. If all goes well, you will have cash at your disposal in matter of two to three months.

Another way of getting cash through structured settlements is to ask for a cash advance while waiting for your structured settlement lump sum. This process provides a small amount to the plaintiff while still waiting for the lump sum to manage essential things that would have seemed a burden during the lawsuit.

It is also important to remember that not all settlement cases win a lump sum. The process involves appealing to a judge, your need for a lump sum. And if the judge finds the reason presented by your lawyer as sufficient, then you will be granted a lump sum cash for settlement. Hence it is very important to approach a top organization to guide you through this process. Usually these top companies have their own lawyers who are experts on the rules and regulations that bind the whole cash for annuity process. This will certainly increase the likelihood of receiving a lump sum to you and will also reduce the waiting time you spend on it.

Stefano Grossi

Cash for Annuity.

cash for structured settlement