September 8, 2010
If unforeseen circumstances have caused a financial crisis for you or your family and you need a liquid cash flow, then selling your annuity or settlement payments may be the solution to your problems. Those who cannot meet their mortgage payments or have unexpected medical bills should consider all their options. It is important to protect other assets or sources of income, so you need to calculate the risks and the potential benefits. If selling your annuity is the best way out of financial difficulty, there is help for you to get the best price.
August 4, 2010
Within the structured settlement factoring industry, every company is not alike. If you are in need of liquidity and have exhausted all other options, getting a lump sum of money in exchange for your future structured settlement payment rights may be the option for you. . Here are a few tips to help you get the most money for your structured settlement:
1) Research Companies
- Check the company’s Better Business Bureau record. Is the number of complaints reasonable? Make a decisions whether the company uses ethical business practices.
- Do a Google search on the company. Do you see any complaints? Bankruptcies?
- Get the opinion of outside sources and provide the sources with the information you have uncovered. Sometimes a different opinion can be a better opinion.
July 28, 2010
On May 26th, 2010 Judge Norma Ruiz denied a request for court approval to transfer future structured settlement payment rights to Settlement Funding of New York, LLC (Peachtree Financial). The opinion, seen here, is a direct response to the “cash now” advertising of this company. It’s good to see a judge take the time to enforce the Structured Settlement Protection Act as noted by this author.
July 26, 2010
The Wall Street Journal on Friday, July 23, 2010 published an article titled “Another Can’t-Miss Deal That Can Miss Spectacularly“.
This article is inaccurate and misleading on a number of accounts.
Firstly, our Group has transacted over $350 million in these types of payments with zero defaults.
Secondly, the liquidity risk that is mentioned in the article is a risk common to many investment insurance annuities and is not unique to annuities purchased on the secondary market. It is a risk that is fully disclosed in our Group’s Buyers Guide that is given to all prospective buyers. Buyers accept this risk because the guaranteed nature of the investment with significantly superior fixed rates of return are worth it. The investments are designed as long-term holds and should not be purchased for short term strategies. For example, they qualify for IRA plans.
July 18, 2010
For the past three years North Carolina Structured Settlement Recipients have been unable to sell the rights to their structured settlement payments because of a change in the North Carolina Structured Settlement Protection Act. Throughout these years many annuitants came to us with tragic circumstances where we normally would be able to help them create liquidity by cashing out their structured settlement, but because of this new law we were unable to help them.
Below is the section of the North Carolina Structured Settlement Protection Act which has not allowed most North Carolina structured settlement recipients to sell their payments since enacted:
July 17, 2010
It has come to this author’s attention that Clearscape Funding, a Symetra subsidiary is badgering structured settlement recipients to sell the rights to their future payments. It appears that this company is increasing it’s efforts to buy back it’s own paper at rates much higher than the industry average.
In the past week, Settlement Quotes LLC has competed on three separate cases where Clearscape Funding has offered the annuitant discount rates between 10-14% as opposed to Settlement Quotes offering rates between 7.7- 10%.
June 24, 2010
It has come to our attention that a rumor being spread by a competitor that could affect your choice when choosing a company to work with when cashing out a structured settlement. The false rumor being spread states that certain companies provide extremely competitive quotes as a loss leader on a transaction in order to secure future deals from that particular annuitant from vastly higher discount rates to make up for any loss occurred in the original transaction.
May 12, 2010
Most everyone has seen some version of a commercial about structured settlements, usually tied into “getting cash now.”
It can be confusing, complex topic, and many companies are not communicating accurate information. It’s actually a simple concept, but the legal documents make it seem much more complicated than it is.
What is a structured settlement?
A structured settlement, strictly defined, is a negotiated agreement in a tort action to provide payments over time. It happens after a court process where one party was hurt and the other party is told to pay. The matter could be personal injury, worker’s compensation for an on-the-job injury, property loss, wrongful termination or a wrongful death claim where a spouse and/or minor children are seeking compensation for lost wages and intangible support, or similar issues. Structured settlements are not usually considered for minor or short-term injuries.
It should be noted that lottery payments are not structured settlements. Those are agreements for periodic payments over time. There are fewer regulations on how to cash-out those payments – turning that revenue stream into a single payment.
May 7, 2010
The following comment was left on this blog from a disgruntled client of Stone Street Capital. Please read our notes at the bottom of the page for tips to avoid these types of companies.
“I have included my response to the BBB (Better Business Bureau) and I would like to share with consumers.
I am in reciept(sic.) of the response from Stone Street capital regarding my BBB complaint and would like to respond. I find it highly unlikely that Stone Street would be confused about my feelings or complaints against them as I have been very vocal throughout the transaction. First let me point out that I am exceptionally familiar with the process of this type of transaction as I have sold payments twice before.
I entered into an agreement with Stone Street in November of 2009 with the understanding that the case would be filed right away and that I would be funded by February of 2010 which is why the sale began with my March 2010 payments. I was very much surprised and dissappointed(sic.) when I learned that the case was filed in King County Court until February 1, 2010 which gave us a hearing date of March 16, 2010. As far as the modified deal. Stone Street failed to file the amended documents with the court as required. The sale price that was on record with the court was close to ten thousand dollars less than the ammended(sic.) agreement. As far as purchase price, I feel that I was a victim of bait and switch. I was initially offered a net price of $62,000. The ammended(sic.) documents left me responsible for the $1900 attorney/processing fees.
March 29, 2010
Do you ever wonder how structured settlement factoring companies pay for commercials that air all day and all night? I bet Heather Sutton, a 23 year old woman from East Bangor, Pennsylvania could tell you. Heather sold a $150,000 payment due in 2024 to Peachtree Settlement Funding for a one time lump sum payment of $11,000. Settlement Quotes could purchase this same payment for $43,000. Unfortunately for Heather she didn’t contact Settlement Quotes.
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