January 3rd, 2012 by admin. No Comments »
A definition from the North Carolina Superior Court Judges 2008 Summer Conference states that a structured settlement is an arrangement for receiving periodic payments of damages reached in resolution of a tort claim. The damages may be due to physical sickness or injuries as well as workers’ compensation claims.
Structured settlement payments have received increased popularity in the United States since the 1970s and more than $100 billion has been paid to fund them. The payments are usually received on a periodic basis. However, the installment-like payments do not suit every person. Fortunately, it is possible to get a lump sum payment in exchange for structured settlement payments.
December 27th, 2011 by James Grace. No Comments »
A structured settlement factoring loan is an option when you receive a structured settlement that results from a person injury lawsuit. A structured settlement is an award in which the victor of the lawsuit will receive periodic payments over a specified time. If this arrangement does not meet your current needs you may consider a structured settlement loan. To obtain a structured settlement factoring loan you will need to sell all or part of your future payments for a one-time lump sum of money.
December 22nd, 2011 by James Grace. No Comments »
A structured settlement factoring company allows an individual who is receiving structured settlement payments to cash out in exchange for a lump sum payment. In exchange for this service, the company collects a fee so as to earn a return on its capital. The company makes a determination as to how secure the future cash flows are, the time value of money and then provides the cash settlement to the recipient, discounting for its perceived level of risk and time.
December 20th, 2011 by James Grace. No Comments »
Selling your structured settlement for a lump payment of money can be a good option for people who need to get their full settlement soon to pay off debt or are planning to use their settlement money for a large purchase instead of borrowing money and having to pay interest. You need to understand the way that your structured settlement it setup before you can sell it. You should also talk to several companies before selling your settlement because some companies will pay you a lower discount rate than others.
May 15th, 2011 by James Grace. 4 Comments »
The Structured Settlement Protection Act of 2002 was instituted to protect those who had been awarded structured settlement money and had a desire to sell part or all of it for a lump sum. Basically, it demands that any transactions conducted by a factoring or structured settlement loan company must be approved by a state court to make sure the transaction is in the best interest of the client and the client’s dependents.
March 4th, 2011 by James Grace. 1 Comment »
Receiving structured payments systematically over a long period of time may work for some people, but what if a sudden unforeseen need for cash arises and the fixed payments are insufficient? Banks do not really consider the still-to-be-collected payments appropriate secured loan collateral. Rest assured there are other options.
It is possible to transfer structured settlement annuity payments in case unexpected expenses come up and a lump sum amount of cash is needed. To be able to get lots of cash fast, one needs to contact an individual who is a representative of a structured settlement buyer. These people buy settlements as investments for amounts less than their real worth, and in return will give the seller a lump sum of cash. The seller needs to decide which suits them more, to get the full amount over a long period of time in small quantities, or to collect the lump sum that is less than what they are entitled to.
February 22nd, 2011 by Andrew Cravenho. No Comments »
Settlement Quotes is excited to introduce our Structured Settlement Factoring Company Review Section where users can provide reviews on companies in the structured settlement factoring industry. Besides the company reviews, we have also included the following information in the company profiles:
- Contact Information
- Social Media Information
- Company Personnel
- Better Business Bureau Information
- Company Financial Info
- Number of Completed Transactions
Most of this information was compiled directly from the company websites, but other data such as the completed transaction stats were compiled using sources such as Westlaw.
In order to provide users with the most accurate information we are allowing each company to edit their information and provide a brief company bio.
Please feel free to provide us with any feedback on this new section.
January 14th, 2011 by Andrew Cravenho. 3 Comments »
2010 was a great year for most structured settlement factoring companies. Record low rates created attractive propositions for annuitants, a struggling economy was a catalyst for more annuitants to sell their annuities, and ample investor funds supported the influx of cases. It was the perfect storm for many of the companies within the industry.
Towards the end of 2011, some structured settlement factoring companies could see their demise.
Below are 5 predictions for the structured settlement factoring industry for the upcoming year.
- Several structured settlement factoring companies will go out of business.
- Courts will deny more transfers.
- Legislation will become stricter.
- Institutional money will be favored over private money.
- Rates will increase, structured settlements will be worth less.
November 20th, 2010 by Andrew Cravenho. 1 Comment »
Upon the foregoing papers, it is ordered that the petition for an order approving the transfer of structured settlement payment rights is determined as follows:
Petitioner J.G. Wentworth Originations, LLC (“Wentworth”) makes the instant application, pursuant to General Obligations Law, Title 17, known as the Structured Settlement Protection Act (“SSPA”), for an order approving the transfer of payment rights vested in Jenny Arce (“Arce”) under a structured settlement obligated and funded by American Home Assurance Company and American International Life Assurance Company of New York (“American”), respectively.
November 19th, 2010 by Kathryn Griffin. 1 Comment »
If you are currently experiencing a shaky financial situation or economic hardship, perhaps you have wondered about selling your structured settlement. A structured settlement is a financial vehicle in the form of an annuity, in which you receive periodic payments resulting from a personal injury settlement.
Structured settlements are popular for the obvious benefits they offer for both parties; the insurance company saves money, while the recipient benefits by receiving a steady tax-free income which could last for many years. While there are many issues to consider should you decide to sell, your first question is probably whether or not it is actually legal.
