Structured Settlements Blog

How to Find the Right Structured Settlement Buyer

noreply@blogger.com (Unknown) — Tue, 04 May 2010 05:15:00 +0000

If you want to sell your structured settlement and get a lump sum, you'll need a great buyer of structured settlement payments to make sure you get the highest lump sum possible. Hundreds of brokers are out there to help you locate funding sources. There are also some major funding companies that will buy your settlement payments directly.

The most difficult phase of selling a structured settlement has to be choosing the best offer. The advertisements many buying companies use to entice clients tout fast cash for little hassle. Contrary to their claims, years of misuse of funds compelled the government to impose protective restrictions when selling structured settlements. This does not mean that selling has become impossible, only that it now requires more coordination on the part of the buyer and seller.

Because of some dire financial need, you may be convinced that your reasons for selling your structured settlement are justifiable. However, the court system may question the necessity of such an extreme action. Therefore, it is in your best interest to hire a lawyer to assist with the sale. A highly skilled lawyer can help by suggesting a fair market value for selling the settlement; reading over the buyer’s quote and the subsequent sale contract; and of course, representing the seller in court.

There are countless buyers who want a piece of the structured settlement market. Whether their offers are legitimate or not, their crafty salesmanship paints such a dazzling image that makes choosing quite a challenge. But by keeping an eye on telltale signs, sellers like you can avoid the untrustworthy buyers.

1. Structured settlement buyers will profit from buying the structured settlement. Shifty buyers can be avoided by carefully listening to their sales pitch. If they try to convince you to cash your entire structured settlement or attempt to offer a considerably lower quote than expected, beware.

2. Check with the Better Business Bureau (BBB) if the buyers you are considering have any negative records with them.

3. There are costs involved in cashing in a structured settlement, including the court costs to meet with the judge. Some settlement buyers will pay those court costs and any fees involved, and some won't. Check around.

No matter whom you choose to buy your settlement payments - broker or funding company, make sure you take a look at the following:

·What is the company's history?

·How long has the company been in business?

·Does the company list names of managers or owners?

·What are the company's credentials?

·Is the company listed with the Better Business Bureau?

·Do they list testimonials from clients or customers that can be verified?

·Do they have a list of frequently asked questions that shows they have the necessary knowledge to be a successful buyer of structured settlements?

·Do they tell you if it's in your best interests to sell just a partial amount of your settlement and not the whole thing?

·Do they list in dollars the volume of cases they've handled?

·Are you comfortable that you're being given time to make a decision and not being rushed?

·Do they provide you with a free quote?

By doing some simple research, you can ensure that the structured settlement buyer you have chosen has both the knowledge to work through the selling process, and the integrity to consider what would be in your best interest.

Structured Settlement Brokers

noreply@blogger.com (Unknown) — Fri, 27 Nov 2009 08:00:00 +0000

A structured settlement broker will help anyone who has a large cash award settlement that he or she wishes to sell. Many times payment awards given through the courts are broken up over years but in cases where a lump sum payment would be beneficial the full award is often given. It can often be a very daunting task when suddenly faced with a huge sum of money in making the right choices; this is where a settlement broker can help.

What Does The Structured Settlement Broker Do?

The Structured settlement broker will buy the original contract with the courts approval and pay the seller with a large cash sum. The broker can help a person to get the best deal from the settlement award, but be careful when choosing a broker as some are less than ethical and do not have the expertise in getting you the best deal.

The qualified broker will know many different options that are available for you of which may include temporary annuities, designated annuities, lump sum payoffs and contingent awards.

How to choose a broker

Obviously those brokers who have been in business a long time will have proven records that you can check and they will be more than willing to show you references and past cases they have been successful in.

The structured settlement broker with excellent business credentials will almost certainly be listed in the better business bureau and this is a good place to start when looking for a broker.

What to Watch Out For

There are certain points to be aware of when taking on a broker Don't sell to the highest bidder. While this may in your favour sometimes brokers will make a high bid just to get you under contract.

Quite often once you have taken on there service they will then make excuses and start reducing the original offer made. Check with the better business bureau to see if there have been any complaints, if there has then stay well clear.

Don't sign anything until you are sure the broker is reputable.

Don't believe them if they promise you'll have your money in just a few weeks, the amount of time taken to close the deal is not governed by the broker and this is a false statement on there behalf.

Don't give in to your emotions or be blinded by your needs, the thought of having a large sum of money to spend as you like can be an exciting prospect but one which can sometimes blind you. Even though you might be exited or perhaps even in desperate need for the money, stop and think before settling because some brokers could take advantage of that fact.

Don't be misled by the broker into thinking you have to sell the whole settlement, it may be in your best interest to hang onto some of the settlement and sell it at a later date. The well informed and ethical broker will know all these points and will take you through all of the options they think will be of the most benefit to you both now and in the future.

Never be afraid to ask questions or ask for credentials as the honest broker will have nothing to hide.

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The Benefits of a Settlement Loan

noreply@blogger.com (Unknown) — Tue, 03 Mar 2009 02:40:00 +0000

It happens everyday; medical malpractice, accidents, work place injury, negligence, etc. Sometimes these result in a lawsuit against the person or company who caused the damage or injury. Usually during the lawsuit the plaintiff is unable too work due to injuries or losses they received. It can be a very trying situation; on one hand you're in the process of a long lawsuit to receive awards for your damages or loss. On the other hand your debt is piling up, you have household bills, car and home payments, medical bills, etc that need to get paid. The question is what do you do?

The answer is quite simple; a settlement , also known as a pre-settlement loan or lawsuit cash advance. This is basically when a settlement loan provider gives you a loan based on the merit of your lawsuit. They are basically buying interest into your lawsuit, and using as collateral the possible awardable amount in your case. This option is much better than a traditional loan; they are easier to obtain and financial institutions will not give a loan based solely on a possible award in a lawsuit.

The benefits of this loan far out weight that of a traditional loan. For starters a settlement loan is considered a non-resource loan. This is due to the fact that if you lose your lawsuit you do not have to pay the loan back. This simple fact actually removes a settlement loan from the whole "traditional loan" area. The simple fact that you only pay it back if your case is won makes it the ideal choice during a lawsuit; unlike with a traditional loan, you would still be required to make the payments.

Another excellent benefit of a settlement loan is that you can receive your money in as little as 48 hours after your application; this can vary based on how quickly your attorney replies to the settlement loan provider. They usually will have an answer within hours of speaking with your attorney and reviewing your case. Unlike with traditional loans which can take 3-6 weeks to get approval and the funds. Why wait longer for your money while your debt is piling up?

As you can see with the above statements a settlement loan is a much better choice when it comes to obtaining financial support during a pending lawsuit. It allows you to get the money you need and is only repaid if the case is actually won. Now, if you need the money and you're in a lawsuit why not consider a settlement loan?

Legal Settlement Loans is the number one source for settlement loan information. We provide the most up to date information regarding settlement loans, educate yourself properly before getting a settlement loan at LegalSettlementLoans.com!

Top 5 Reasons to Get a Settlement Loan

noreply@blogger.com (Unknown) — Sat, 28 Feb 2009 02:34:00 +0000

This article is designed to explain the top 5 reasons why someone might want to look into a settlement loan. A settlement loan is a cash advance on a possible settlement amount in a pending lawsuit. A settlement loan provider would review the merit of your lawsuit and probability of winning and determine if you're eligible. Below are the top 5 reasons why a settlement loan would be right for you.

#1. Settlement loans don't require credit checks or specific income amounts.

A settlement loan is really just a provider or investor buying interest into your pending lawsuit. They provide a specific portion of your estimated awardable amount in return for a portion of it and they original amount loaned. Since the settlement loan is based solely on your case your credit report and current income play no role in the approval process.

#2. You only pay back the loan if you win your case.

This is what makes settlement loans not a true loan by nature. If you happen to lose your current lawsuit you're not required or obligated to pay back the original amount of the settlement loan. You only pay it back if you win your lawsuit case; this alone makes a settlement loan far more appropriate than a traditional loan.

#3. Allow you to not settle your lawsuit early for a lower amount.

Since you'll probably not be able to work during a pending lawsuit income will be hard to come by. Due to ethic rules an attorney cannot loan their client money, as it might credit situations where you'll feel you'll need to settle sooner when you really didn't want to. Since a settlement loan can provide your financial support during your lawsuit you won't feel the stress to settle early. You'll be able to make all medical, auto, home, etc payments on time and protect your credit history.

#4. You don't have to take out a loan against the full amount.

Unlike common belief you don't need to take out the maximum amount in allowed in a settlement loan. You'll find many providers go as low as $250 and up to $1,000,000+ when it comes to loan able amounts. This way you can only take out what you need to support yourself during the case and keep more of your awarded money at the end. Most settlement loan providers will also allow you to take out multiple settlement loans if you still need more money and the case has not ended yet.

#5. Settlement loans do not affect your case at all.

For some reason people think settlement loans will effect their case, this is farther from the truth. The defendant in your case is never notified if you apply for and\or get accepted for a settlement loan. In fact, the court itself isn't even notified about the settlement loan and the provider is not required by law to notify anybody beyond your attorney.

Legal Settlement Loans is the premier settlement loan educational resource. We provide all the needed information to someone looking to get a settlement loan during their pending lawsuit. Visit us today to educate yourself further on settlement loans and how to find the proper settlement loan provider.

Structured Settlements: Legal Issues

noreply@blogger.com (Unknown) — Thu, 26 Feb 2009 02:30:00 +0000

Lawyers play a very important role when you go in for any legal contract, be it for any purpose. Some might structured settlement are quite a good investing option and upon reading the advantages definitely you will go in for them. However, some legal aspects need to be tackled as well.

Especially at the time of selling the structured settlement, it becomes necessary for us to take the help of a solicitor because your application for selling is determined by the judge. He will review the case in order to determine that upon selling the structured settlement, will you be benefited from it or not. The legal adviser will tell you how to put down the things and easily get the selling structured settlements request approved.

Judges usually approves the request. However, if they appear to be non-genuine one then he denies it as well. This complete procedure takes about two months. Once you get the approval, it becomes necessary for you find the company who is willing to purchase. Get a legal contract made with the help of a solicitor and take his advice on the matter before singing and documents. He will look for your interest at this point of time. He will see that you receive fair terms and are flexible for getting the payment for your settlement.

Further, at the time of selling the settlement they help you in negotiating the deal by telling you on how to discount the present value (at this time of recession or high inflation rates, one need to be careful).

To know more about the benefits of hiring a lawyer for handling legal issues for structured settlement, visit http://www.prosperitypartners.com

Sell Structured Settlement

noreply@blogger.com (Unknown) — Tue, 24 Feb 2009 03:26:00 +0000

Structured settlements are nothing new; these agreements are a way that the person who is entitled to pay out a large sum of money can do so over a period of many years. By sending smaller payments to the beneficiary, the company or organization sending the money can financially stay afloat. In most cases, those receiving structured settlements do not mine all of the payments. There are exceptions though where people need a lump sum payment and they need it now.

While many people assume that they are not able to do anything about changing their settlement, there is the option in most cases to sell structured settlement in order to receive a large lump sum. This can be extremely beneficial to the beneficiary depending on the financial strain they are in or the investments they want to make. The great thing about the ability to sell structured settlement is that the person, who would have been receiving smaller checks over the next twenty years, can take that money now and do with it as he or she pleases.

Invest in a large amount of real estate, place it all into bonds, pay for college tuition for ten grandchildren, or buy yourself an island. It really does not matter what a person wants to do with their money and their reason behind wanting to sell structured settlement. It is their money and they are allowed to do with it what they please. Of course, just as with anything, where there are positive points to be made there are negative ones as well.

One of the bad points to keep in mind is that if you are in a hurry due to an emergency, you may be pushing it on time. In general, from beginning to end, to sell structured settlement takes about two months. This transaction, or sale, is subject to approval from the court system. Before even jumping the gun, you may want to research your particular state to make sure that you will not be looking at too much trouble. Another thing to keep in mind is that if you decide that you want to sell structured settlement that you will not be getting all of the cash.

Say for example you have a settlement of two hundred thousand and you want to sell that in order to get your money now, you will receive less than that in a lump sum. The remainder of that cash is the profit of the company that bought your settlement. Just keep in mind that companies are not going to do this free. It is also important that the entire settlement does not have to be sold off. A person could decide to sell maybe half of their settlement in order to receive a lump sum and decide to allow the rest to come as monthly payments for the rest of the time. This cannot be applied to all structured settlements in all states but it is certainly worth looking into.

For more information visit http://www.sellstructuredsettlement.info

Is a Settlement Loan Right For You?

noreply@blogger.com (Unknown) — Mon, 23 Feb 2009 02:39:00 +0000

If you're in the middle of a pending lawsuit you already understand the financial stress than can build during that period. This is especially true for injury or accident related lawsuits. During this period the plaintiff in the case won't be able to work, and depending on the situation might never able to work again. As with most lawsuits this can be a very trying situation; most lawsuits tend to take many months if not years to complete. During this period the plaintiff in the case can become delinquent with monthly bills, medical payments, car loans and mortgages. In worst cases you can actually lose your home or vehicle during a pending lawsuit; and have adverse effects on your credit history.

Many people in this situation tend to do the worst thing and take out more credit. This can include applying for more credit cards or taking out a home equity loan. This is dangerous, if you lose your pending lawsuit you'll still be liable for that money that was loaned. A better option in this type of situation is a settlement loan. They are a great way for a plaintiff in a pending lawsuit to take hold of their financial issues, and in the process protect their assets and credit history.

The best part of a settlement loan is it doesn't have to be paid back until the end of your lawsuit. If you happen to lose your lawsuit you pay nothing back. That means the money you spent and that is left over the settlement loan is yours to keep and will not effect your credit history or any personal property you would other wise take out equity loan on. Settlement loans are based on the merit of your lawsuit, so if it's a strong lawsuit against the defendant you'll almost certainly get approved.

Remember, you need to make smart financial moves during your lawsuit. A traditional loan can be damaging if you fail to win your case since you'll still be responsible for the payments. This is why the settlement loan is a far better option, you'll be able to secure the financial funds you need to proceed with life and not be in danger of a loan you can't afford if you lose.

Cash Option For Structured Settlements

noreply@blogger.com (Unknown) — Mon, 23 Feb 2009 02:16:00 +0000

There's lots of garbage information out there when it comes to getting cash for your structured settlements.

Problem is, everybody's looking to make a profit and it can be hard to separate the good advice from the bad!

Just to make sure we're all on the same page - let's start with a quick and simple example:

Let's say John has an accident at work and gets a settlement of $100,000.00 out of it.

In a structured settlement, John would get that amount over some period of time... in hist case let's say it's 10 years.

That means John will get $10,000.00/year for 10 years... that's a structured settlement.

Unfortunately There's An All Too Common Problem With Structured Settlements

Often times John will need his money now and can't wait 10 years to get it all.

What if John's accident caused him to not be able to work and he needs money to pay his mortgage?

What if he's in debt and wants to use the money to get out?

That's Where The Cash Option For Structured Settlements Comes In

Lucky for John, there are plenty of companies out there that love to buy out structured settlements for cash.

The result? John gets a lump sum of the money he needs.

John is very lucky to be in this day and age.... Why? Because the Internet makes it especially fierce for structured settlement companies to compete.

Bottom Line: They all want John's business... and he can take time to shop around for the best deal!

Source: http://EzineArticles.com

Structured Settlements

noreply@blogger.com (Unknown) — Wed, 10 Dec 2008 02:13:00 +0000

A structured settlement is an arrangement with the insurance company that involves periodic payments obtained as a substitute for release of liability. As indicated, structured settlements are often obtained as a result of lawsuits and are an excellent alternative for lump sum settlements. Structured settlements are usually to be paid from the gross income to the injured party or as workers compensation settlement by the company against which the case has been filed.

Structured settlements are often not very helpful when there is a need for immediate cash, but a part or whole of them can be sold in case of a monetary emergency. People often wish to exchange these for a lump sum that would be readily available during an emergency. Even with such drawbacks, structured settlements are still popular because the procedure usually benefits both the parties involved in an accident or an injury.

Structured settlements are best suited for cases involving minors. To choose the structured settlement option, there is certain minimum amount of procedure that has to be followed. Also, settlements that may have the possibility of being postponed to an indefinite period of time can also opt for the structured settlements instead. Since the payments would be made periodically, they would be a best option unless in cases of financial emergency.

Many countries such as the United States, Canada, Australia, and England have employed the structured settlements strategy as part of the tort law. However, the law might be defined and interpreted in different ways in different countries and the rules definitely change as per the tort law in that particular country. In spite of the differences structured settlements have requirements for the income tax and spendthrift according to the tort law in all the countries.

Before signing for a structured settlement, it would be wise to consider the effect of this settlement on the existing medical insurance. Structured settlements might prove to be a hindrance if not considered from all angles before the entering into an agreement with the other party or company.

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