Hew A New Financial Path By Selling All or A Portion of Your Structured Settlement Payments For A One-Off Lump Sum Buy Out

Cashing in structured settlements, lottery winnings or insurance policies at the height of recession comes like a shot in the arm for folks who may have poor credit score or no borrowing options. Structured settlements have become the industry’s spectacle due to the rigors involved in devising the annuity and restrictions placed on payees who want transfer payment rights. If you have vested rights in a future income stream and rushed off your feet by the economic downward spiral, you may be halted right in your tracks by the court. Selling a structured settlement can turn into a frustration for some due to the formalities and red tape. It’s a bitter pill to swallow for a tort claimant whose case may have dragged in court for years to get compensation to get tied up in a labyrinthine process.

Martin Smith settled a personal injury lawsuit with a manufacturer of a defective circular saw that chopped off his right arm getting a structured settlement policy. After losing his arm, Smith got the kiss of death as he can no longer engage in his casual job in the timber fields. Upon learning he would get his compensatory money in periodic payments and no a one-time lump sum, Smith felt like he had been plunged into despair as he already had a business overture for the millions of bucks his attorney brought home. He could not risk life and limb with power saws again and had to unveil a spare parts shop for these machines. Selling a portion of his structured settlement payments was the only ray of sunshine.

Sell Structured Settlement

Deciding What to Sell

Structured settlement annuity contracts vary; Smith’s agreement bestowed upon him lifetime monthly installments guaranteed for 30 years and lump sum annuities totaling $1,000,000. Although the monthly payments could keep his head above the waters, Smith could not take countenance of torpor as he has knack for work. He decided to cream off the annual annuities and keep monthly payments as he could capitalize on the amount recoverable to incorporate his new business.

Holding Out His Annuities to the Market for Bids

After collating the annuities he wished to cash in, Smith called a total of twenty structured settlement financing companies soliciting for offers. Olive Branch Funding offered an irresistible price offer as they had an extremely low discount and annual interest rate. Estimated in the present value, Olive Branch’s bid allowed him to rake in 80% of the aggregate of annual payments.

What Documents and Information Did Olive Branch Ask Him to Furnish?

Before the sale could proceed, Olive Branch required several documents. Smith was asked to scan and deliver online his identification passport or social security card, duly filled form, copy of the original settlement and release agreement and annuity contract. The paperwork helps the company to assess whether your application will survive court scrutiny, cross-check liens and claims and validity of the transfer.

Transient Court Process

Olive Branch informed Smith the transaction could sail through court and filed an application in court. The judge examined Smith to ensure he was not selling his future cash flows at a miserable price but did not twist the knife. With his knees knocking together, Smith was aware of the impending doom if the judge said no. Fortunately, the judge issued a final order one week after the brief hearing allowing him to tradeoff the annuities.

What If the Judge Denied Smith His Application?

Like other humans, judges too have feelings and emotions which may cloud their judgment. Some judges have a bitter perception of the secondary market while personal idiosyncrasies play into the final decision. Your structured settlement company has attorneys well-versed with the judicial system. They can either forum-shop for another judge or appeal the decision to a higher court.

Money for Old Rope, Smith Got His Lump Sum and Launched His Store in Manhattan

Once the court sanctioned the factoring deal, Olive Branch forwarded the qualifying order to the annuity issuer for acknowledgement. Smith’s funds were wired within a couple of days. He started his spare parts enterprise in Manhattan where he works today.

Structured Settlement Factoring Companies That Knock Spots Off their Rivals 

Olive Branch Funding not only tailors a transfer agreement to reflect your fiscal plans but picks the right forum or court to avoid rejection by judges, gives a mouth-watering lump sum price offer and levies low discount and annual interest rates.

Fairfield Funding has been a buyer of structured settlement payment rights, annuities and lottery winnings for more than a decade, has a large pool of attorneys onboard and online visibility for consumer review and quick accessibility.

Woodbridge Structured Funding acts as a long term representative to annuitants seeking to carve out a portion of their future cash flows for a lump sum in court and before insurance companies. The company will deliver all relevant documents for endorsement quickly, have your application certified as urgent and disburse payments momentarily.