Get A Substantial Lump Sum From A Structured Settlement Purchasing Company

In spite of the perception by Congress on the squandering plaintiff who cannot be trusted with a lump sum compensation award, very few annuitants and structured settlement payees want a one-off payment. Structured settlement purchasing providers have played a critical role in disseminating information on alternative options available to tort claimants after the lawsuit. Factoring companies pitch their services online and on air to educate structured settlement payees on how to tweak their future income stream into a one-time substantial amount of money. Unlike the early days when factoring catered for lottery winners, holders of annuity contracts, structured settlement agreements, and pensions now sell like hot cakes in the financial domain. More companies have also joined the market making it more competitive with better quality services and decreasing discount rates for sellers.

I became the recipient of a structured settlement following a personal injury lawsuit due to an injurious pregnancy prescription that caused a miscarriage. That’s how I came to know about structured settlements and how they work. The defendant’s insurer made an arrangement to provide me with a future income stream with monthly and annual payments. Whenever you need a few bucks, you have to wait until the date of payment. The inflexibility forced me to explore better options online, and I found the structured settlement annuity could be cashable for a lump sum though at a discounted rate. The entire transaction will take a couple of weeks if not months due to the court procedure.

How Did I Get Started?

I decided to shear off the annuities and offer them for sale while leaving monthly payments intact. The three annuities totaled $945,900, and I wanted a structured settlement purchasing company that would give me above half a million bucks. I shop everything online; I had to sell the future cash flows digitally. I encountered numerous companies online and requested for quotes from several companies until my target price hit home.

Legal Parameters of the Transaction Protect You, the Payee

Almost every state in the US had adopted a Structured Settlement Transfer Protection Act sketching out a roadmap which I had to follow before the factoring deal became legitimate or legally enforceable in court. Structured settlement purchasing companies had to obtain a court order for the transfer of payment rights vested in the annuities I was selling. However, the buyer of annuities handles the documentation and files the petition on your behalf. The only part I partook involved the framing of grounds to show the transaction improved the quality of my life. The court also ensures you get a fair and worthy lump sum.

Can You Re-Sell the Same Payment Rights or Swindle Factoring Companies with Multiple Deals?

I would advise against any attempt to re-sell what you’ve already sold. In recent times, the factoring industry has seen aggressive and cut-throat competition. Companies would keep calling you to lure you with a better deal than the previous one if you bypassed them for another buyer. Before processing your transaction, structured settlement purchasers always undertake background checks such as court files and UCC records. Rights previously assigned will always reflect in these files; thus, you cannot sell twice.

What if I get another buyer of annuities offering a higher price tag?

If another company approaches you while the transaction is underway, you should not leap at the offer as it can be mere poaching. Some structured settlement companies will leaf through court records to surreptitiously glimpse at what the present company provided you. They scale up the price tag to induce you to enter into another agreement with hidden charges. You should always avoid poaching companies at all costs. However, payees have statutory rights to rescind the contract without incurring any liabilities before the court gives a qualifying order. A court order has been held to be a conditional precedent in the sale of a structured settlement. Without it, no legal contract exists.

Top 3 Well-Known Structured Settlement Factoring Companies

Fairfield Funding will deploy a novation representative to walk you through the process, help you compile relevant court documents and execute the transfer agreement, file a petition in the appropriate forum and give you the highest price offer online.

DRB Capital ensures everything has been placed before the judge on time for review and approval, align your cash out plan to your needs and disburse payment within a short period.

Stone Street Capital dominates the factoring domain owing to their irresistible buyout price offers, exceedingly low discount rates, annual interest, and catalog of all expenses. They lodge all documents in court and help you overcome legal constraints prevalent in the transaction.…