For all you daily readers, sorry we haven't posted much lately, Settlement Quotes has been working on some exciting projects, including the new website design, our discount rate calculator, and our present value calculator.
New Website Design
Settlement Quotes decided it was time for an updated design using "The Structured Settlement Factoring Exchange" (first coined by John Darer) as our new slogan. The website also received a member section overhaul as well as an administration section overhaul.
Discount Rate Calculator
Structured settlement factoring transactions are priced using discount rates, but consumers have not had the opportunity to check what the discount rate of their transaction is. We have created a tool which will allow an annuitant to check the discount rate of the cash offers they receive from any company in the industry. Hopefully this will help educate annuitants on the type of pricing they should receive when factoring settlement payments.
Over the next 2 weeks we will be releasing our discount rate calculator to the public which will allow other settlement professionals to place the calculator on their websites to help further educate tort victims factoring structured settlement payments.
Present Value Calculator
The present value calculator is similar to the discount rate calculator except that you will enter the discount rate of the transaction along with the payment stream to get the present value. The national average discount rate for a factoring transaction is estimated to be 19.2%. Settlement Quotes has an average discount rate of 8-10%. Feel free to play around with the calculators. Please let us know if you run into any problems.