The unfolding fraud scandal involving high-rolling South Florida lawyer Scott Rothstein raises questions about the nature of structured settlements. Did Rothstein manipulate these financial arrangements to his advantage or concoct something else entirely?
As The Am Law Daily and sibling publication the Daily Business Review have previously reported, Rothstein is implicated in a scheme that the FBI estimates could cost thousands of investors $1 billion. Those investors are now running to lawyers across South Florida, and some of them are trying to force Rothstein's 70-lawyer Fort Lauderdale firm into bankruptcy. (While Rothstein has yet to be criminally charged, the lawyer has sought to reassure investors that he's "gonna do the right thing.")
We reached out to five lawyers in South Florida -- some of whom were familiar with Rothstein and his practice at Rothstein Rosenfeldt Adler -- for their take on the nature of his fraud and what, if any, consequences it might have on structured settlements.
The traditional structured settlement is essentially an annuity. If, for example, a law firm were to settle a major case with the City of Miami that would pay out over one year, the firm might go to its lender bank and ask to borrow against the settlement. But when a settling party has a sketchier track record of creditworthiness, plaintiffs can sell their settlement stake to investors who assume the risk at a premium.
"Structured settlements are basically people buying annuities at a discount," says Edward Davis, an asset recovery lawyer with Miami's Astigarraga Davis uninvolved in the Rothstein case. "But they come with a risk, because presumably the person or entity that owes the money could default."
Rothstein's purported scam, which has been likened to a Ponzi scheme, focused on the pre- and post-settlement aspects of litigation. But rather than provide up-front litigation financing, Rothstein sought out investors to provide settlement funds for plaintiffs in need of the money right away.
Kendall Coffey, a former U.S. Attorney in South Florida now with Miami's Coffey Burlington, represents what remains of RRA. Coffey explains that Rothstein sold structured settlements in sexual harassment and qui tam/whistleblower suits to investors, some of them hedge funds.
"Rothstein promised people double their money back or something like a double-digit return in a finite timeframe," Coffey says. According to Coffey, Rothstein's uncle, Bill Brock, worked at RRA and set up investment accounts that also doubled as law firm trust accounts. That, Coffey says, could create liability issues for RRA. The trust accounts were held by TD Bank, which has hired Greenberg Traurig's Glenn Goldstein to cooperate in the widening inquiry.
Source
Monday, December 28, 2009
Tuesday, December 15, 2009
Strategic Capital, Structured Settlement Industry Expert
Strategic Capital Corporation announces the launch of its new informational website for structured settlement and annuity holders. Strategic Capital Corporation is in business of helping clients exchange their future payments from sources like structured settlements, annuities, casino winnings and lottery winnings for cash.
The new modern website design offers user-friendly navigation and a content rich site which reinforces Strategic Capital as industry experts in the purchase of future payments. The website features a revamped quote request form, simple easy to follow descriptions of the services offered and one click access to the company experts for a no obligation quote or answers to any questions or concerns.
The new site also targets potential Spanish speaking customers by offering a page in Spanish and a dedicated customer service personnel. This option gives Spanish speaking customers an alternative when choosing a company to sell their structured settlement.
“My personal Strategic Team Members, did what they said they would do-and did it when they said they would do it,” Sam, Annuitant. This is just one of the handful of testimonials featured on the website that illustrates Strategic Capital’s genuine passion for helping clients get the most from their future payments.
The experts at Strategic Capital Corporation understand and respect the intricate details that go in to creating a structured settlement and as a result follow a simple straightforward process to better suit clients’ current and future needs. Whether a client needs to pay off medical bills, or further their education, our straightforward process was designed to make the process of selling your future payment fast, simple and flexible.
Source
The new modern website design offers user-friendly navigation and a content rich site which reinforces Strategic Capital as industry experts in the purchase of future payments. The website features a revamped quote request form, simple easy to follow descriptions of the services offered and one click access to the company experts for a no obligation quote or answers to any questions or concerns.
The new site also targets potential Spanish speaking customers by offering a page in Spanish and a dedicated customer service personnel. This option gives Spanish speaking customers an alternative when choosing a company to sell their structured settlement.
“My personal Strategic Team Members, did what they said they would do-and did it when they said they would do it,” Sam, Annuitant. This is just one of the handful of testimonials featured on the website that illustrates Strategic Capital’s genuine passion for helping clients get the most from their future payments.
The experts at Strategic Capital Corporation understand and respect the intricate details that go in to creating a structured settlement and as a result follow a simple straightforward process to better suit clients’ current and future needs. Whether a client needs to pay off medical bills, or further their education, our straightforward process was designed to make the process of selling your future payment fast, simple and flexible.
Source
Saturday, November 28, 2009
Sell a Structured Settlement
If your are wondering how to earn cash on periodic payments that you are receiving, there are ways to work with a company and get paid for your periodic payments. Each company that you choose to work with may have different rates and terms, and it is always a good idea to search for the best one. Structured settlements are arrangements that a person may receive if they are an injured party and are getting payments from the insurance company.
People may decide that they want to sell their structured settlement for cash, and if so, there are companies that are willing to work with them and draw up a contract. Selling structured settlements is something that may be of interest to you if you do not want to have to wait for your payments, and prefer that you can sell it for cash.
When you are looking for a company to work with to sell your settlement, you should check with large companies, but you should also check with smaller companies in addition to the larger companies, to see what offers are available to you, and where you can go to get the best price. The more information that you get on your settlement options, the more educated decision you can make on when to sell it, how to find the best price, and what the terms of the sale are.
You can do a search online to find out the different kinds of companies that are available to give you offers and start looking through them until you find the best ones. Before you settle on anything that a company has to offer you, make sure that you compare it with other offers to make sure that it seems like it is right. Some companies may offer you a very high price, but then after you sign the contract, they may back out of their agreement.
If you are looking for structured settlement offers, you can do a search online and check out a few different companies, until you find one that seems to be the best deal for you. If the offer that they are giving you seems very high compared to other offers, you may want to stay clear of that offer. Some people end up getting into situations where they are forced to cancel a contract due to the company, and then it can take a while to get another company and enter in a new contract. Structured settlements do have the potential to earn you cash, and there are a lot of good companies out there to work with and make sure that you are going to be making a good choice on your settlement options.
Source
People may decide that they want to sell their structured settlement for cash, and if so, there are companies that are willing to work with them and draw up a contract. Selling structured settlements is something that may be of interest to you if you do not want to have to wait for your payments, and prefer that you can sell it for cash.
When you are looking for a company to work with to sell your settlement, you should check with large companies, but you should also check with smaller companies in addition to the larger companies, to see what offers are available to you, and where you can go to get the best price. The more information that you get on your settlement options, the more educated decision you can make on when to sell it, how to find the best price, and what the terms of the sale are.
You can do a search online to find out the different kinds of companies that are available to give you offers and start looking through them until you find the best ones. Before you settle on anything that a company has to offer you, make sure that you compare it with other offers to make sure that it seems like it is right. Some companies may offer you a very high price, but then after you sign the contract, they may back out of their agreement.
If you are looking for structured settlement offers, you can do a search online and check out a few different companies, until you find one that seems to be the best deal for you. If the offer that they are giving you seems very high compared to other offers, you may want to stay clear of that offer. Some people end up getting into situations where they are forced to cancel a contract due to the company, and then it can take a while to get another company and enter in a new contract. Structured settlements do have the potential to earn you cash, and there are a lot of good companies out there to work with and make sure that you are going to be making a good choice on your settlement options.
Source
Sunday, November 15, 2009
Justice Department Seeks Revisions To Google Book Settlement
The Department of Justice has said that a proposed far-reaching deal between Google and authors and publishers shouldn't go forward in its current form.
"The breadth of the proposed settlement -- especially the forward-looking business arrangements it seeks to create -- raises significant legal concerns," the DOJ said Friday in a letter to U.S. District Court Judge Denny Chin in New York. Chin is slated to preside over an Oct. 7 hearing about the deal.
While the government expressed doubts about portions of the deal, the DOJ also said that the resolution offered potential benefits and suggested that it should be revamped, rather than scrapped altogether. "The United States is committed to working with the parties constructively with respect to alterations the parties may propose," the DOJ wrote. "A properly structured settlement agreement in this case offers the potential for important societal benefits."
Google said in a statement that it is considering the points raised by the government and will address them as the case continues to play out in court.
The ambitious agreement, announced last year, would resolve a copyright infringement lawsuit filed in 2005 by the Authors Guild and the Association of American Publishers. The resolution calls for Google to fund a new book rights registry, similar to the music industry's ASCAP and BMI, and will allow Google to sell downloads of books at prices that it sets with the registry.
One portion of the settlement that has drawn significant opposition concerns orphan works -- books under copyright, but whose owners can't be found. The deal would allow Google to digitize orphan works without fear of copyright infringement lawsuits. Currently, anyone who publishes such books risks copyright liability -- which can run as high as $150,000 per infringement.
While the agreement would result in the increased availability of many out-of-print books, it also significantly changes the copyright landscape. In addition, it appears to give Google an advantage over other potential publishers, who would still face liability for printing orphan works.
The DOJ pointed out that such far-reaching changes are typically accomplished through legislation, not private lawsuits. "The central difficulty that the proposed settlement seeks to overcome -- the inaccessibility of many works due to the lack of clarity about copyright ownership and copyright status -- is a matter of public, not merely private, concern," the government wrote.
Source
"The breadth of the proposed settlement -- especially the forward-looking business arrangements it seeks to create -- raises significant legal concerns," the DOJ said Friday in a letter to U.S. District Court Judge Denny Chin in New York. Chin is slated to preside over an Oct. 7 hearing about the deal.
While the government expressed doubts about portions of the deal, the DOJ also said that the resolution offered potential benefits and suggested that it should be revamped, rather than scrapped altogether. "The United States is committed to working with the parties constructively with respect to alterations the parties may propose," the DOJ wrote. "A properly structured settlement agreement in this case offers the potential for important societal benefits."
Google said in a statement that it is considering the points raised by the government and will address them as the case continues to play out in court.
The ambitious agreement, announced last year, would resolve a copyright infringement lawsuit filed in 2005 by the Authors Guild and the Association of American Publishers. The resolution calls for Google to fund a new book rights registry, similar to the music industry's ASCAP and BMI, and will allow Google to sell downloads of books at prices that it sets with the registry.
One portion of the settlement that has drawn significant opposition concerns orphan works -- books under copyright, but whose owners can't be found. The deal would allow Google to digitize orphan works without fear of copyright infringement lawsuits. Currently, anyone who publishes such books risks copyright liability -- which can run as high as $150,000 per infringement.
While the agreement would result in the increased availability of many out-of-print books, it also significantly changes the copyright landscape. In addition, it appears to give Google an advantage over other potential publishers, who would still face liability for printing orphan works.
The DOJ pointed out that such far-reaching changes are typically accomplished through legislation, not private lawsuits. "The central difficulty that the proposed settlement seeks to overcome -- the inaccessibility of many works due to the lack of clarity about copyright ownership and copyright status -- is a matter of public, not merely private, concern," the government wrote.
Source
Wednesday, October 28, 2009
Woodbridge Structured Funding LLC Announces New Division to Purchase Life Contingent Structured Settlement Transaction
Woodbridge Structured Funding LLC announces new division to purchase life contingent structured settlement transaction. By purchasing a life insurance policy on the customer Woodbridge Structured Funding, LLC is able to purchase non guaranteed payments enabling our customer to sell payments they ordinarily wouldn't be able to sell
Studio City, CA (PRWEB) September 24, 2009 -- Scott Schwartz, Executive Vice President of Woodbridge Structured Funding, LLC announced a new division specializing in what the industry calls out of guarantee payments. Schwartz explains," When someone is awarded a structured settlement it is often guaranteed for a specific period often twenty or thirty years. At that point the settlement will only pay for the life of the settlement owner.
By purchasing a life insurance policy on the customer Woodbridge Structured Funding, LLC is able to purchase non guaranteed payments enabling our customer to sell payments they ordinarily wouldn't be able to sell."
Schwartz further added," We are offering our excellent terms not only directly to our customers but to the structured settlement factoring community as low as 10% to 11% which is unheard of for life contingent deal." Rates will be determined by the term of the transactions as well as the cost to secure insurance.
Source
Studio City, CA (PRWEB) September 24, 2009 -- Scott Schwartz, Executive Vice President of Woodbridge Structured Funding, LLC announced a new division specializing in what the industry calls out of guarantee payments. Schwartz explains," When someone is awarded a structured settlement it is often guaranteed for a specific period often twenty or thirty years. At that point the settlement will only pay for the life of the settlement owner.
By purchasing a life insurance policy on the customer Woodbridge Structured Funding, LLC is able to purchase non guaranteed payments enabling our customer to sell payments they ordinarily wouldn't be able to sell."
Schwartz further added," We are offering our excellent terms not only directly to our customers but to the structured settlement factoring community as low as 10% to 11% which is unheard of for life contingent deal." Rates will be determined by the term of the transactions as well as the cost to secure insurance.
Source
Thursday, October 15, 2009
Appeal of life settlement securitizations seen as limited
Buzz is building among financial firms about arranging life settlement securitizations, but experts question the structured products' viability as an investment amid a lengthy list of risks and a limited track record of successful transactions.“There are transactions in the pipelines — a lot of them come to our desks — but many of them aren't doable,” said Emmanuel Modu, managing director of the insurance-linked securities group at A.M. Best Co. Inc. “Getting into this asset class isn't trivial, and that's discouraged people from entering the market and securitizing policies.”
Although private investors and investment banks recently have increasingly been analyzing life settlement securitizations as a new revenue source, the concept has been around for more than a decade. The first viatical securitization, which was provided by Dignity Partners Inc., took place in 1995, using policies belonging to the terminally ill.
To date, there has been just one successful life settlement securitization, which took place in January and involved American International Group Inc. More than 2,000 policies in that deal were provided by the Coventry Group, a life settlements firm.
Mr. Modu, who privately rated the AIG transaction, and those at other ratings agencies said that they have seen an uptick in interest about structuring similar deals. But arrangements that meet the agencies' standards for a rating have been scarce.
“What I've seen is that the interest is heating up, but the volumes aren't up,” said Jesse Schwartz, a consulting actuary at Watson Wyatt Worldwide. “Growth may be slow because the asset classes are new and complicated; investors need an extent of technical knowledge to participate.”
For securitizations to be successful, they must amass large pools of policies to provide sufficient diversity among the health conditions of the policyholders in the pool.
Several hundred to 1,000 policies would be sufficient for a single securitized pool, though for many of these securitizations to exist, there would need to be a large influx of seniors who were ready to sell their policies, said Michael McLaughlin, head of the U.S. life actuarial practice for Deloitte Consulting LLP.
Such an undertaking would require a solicitation effort to sign up individuals for coverage and to sell the policies on the secondary market — and that raises the risk of fraud and insuring people just for the sake of selling the policy on the secondary market.
Source
Although private investors and investment banks recently have increasingly been analyzing life settlement securitizations as a new revenue source, the concept has been around for more than a decade. The first viatical securitization, which was provided by Dignity Partners Inc., took place in 1995, using policies belonging to the terminally ill.
To date, there has been just one successful life settlement securitization, which took place in January and involved American International Group Inc. More than 2,000 policies in that deal were provided by the Coventry Group, a life settlements firm.
Mr. Modu, who privately rated the AIG transaction, and those at other ratings agencies said that they have seen an uptick in interest about structuring similar deals. But arrangements that meet the agencies' standards for a rating have been scarce.
“What I've seen is that the interest is heating up, but the volumes aren't up,” said Jesse Schwartz, a consulting actuary at Watson Wyatt Worldwide. “Growth may be slow because the asset classes are new and complicated; investors need an extent of technical knowledge to participate.”
For securitizations to be successful, they must amass large pools of policies to provide sufficient diversity among the health conditions of the policyholders in the pool.
Several hundred to 1,000 policies would be sufficient for a single securitized pool, though for many of these securitizations to exist, there would need to be a large influx of seniors who were ready to sell their policies, said Michael McLaughlin, head of the U.S. life actuarial practice for Deloitte Consulting LLP.
Such an undertaking would require a solicitation effort to sign up individuals for coverage and to sell the policies on the secondary market — and that raises the risk of fraud and insuring people just for the sake of selling the policy on the secondary market.
Source
Monday, September 28, 2009
Sell a Structured Settlement
If your are wondering how to earn cash on periodic payments that you are receiving, there are ways to work with a company and get paid for your periodic payments. Each company that you choose to work with may have different rates and terms, and it is always a good idea to search for the best one. Structured settlements are arrangements that a person may receive if they are an injured party and are getting payments from the insurance company.
People may decide that they want to sell their structured settlement for cash, and if so, there are companies that are willing to work with them and draw up a contract. Selling structured settlements is something that may be of interest to you if you do not want to have to wait for your payments, and prefer that you can sell it for cash.When you are looking for a company to work with to sell your settlement, you should check with large companies, but you should also check with smaller companies in addition to the larger companies, to see what offers are available to you, and where you can go to get the best price. The more information that you get on your settlement options, the more educated decision you can make on when to sell it, how to find the best price, and what the terms of the sale are.
You can do a search online to find out the different kinds of companies that are available to give you offers and start looking through them until you find the best ones. Before you settle on anything that a company has to offer you, make sure that you compare it with other offers to make sure that it seems like it is right. Some companies may offer you a very high price, but then after you sign the contract, they may back out of their agreement.
If you are looking for structured settlement offers, you can do a search online and check out a few different companies, until you find one that seems to be the best deal for you. If the offer that they are giving you seems very high compared to other offers, you may want to stay clear of that offer. Some people end up getting into situations where they are forced to cancel a contract due to the company, and then it can take a while to get another company and enter in a new contract. Structured settlements do have the potential to earn you cash, and there are a lot of good companies out there to work with and make sure that you are going to be making a good choice on your settlement options.
Source
People may decide that they want to sell their structured settlement for cash, and if so, there are companies that are willing to work with them and draw up a contract. Selling structured settlements is something that may be of interest to you if you do not want to have to wait for your payments, and prefer that you can sell it for cash.When you are looking for a company to work with to sell your settlement, you should check with large companies, but you should also check with smaller companies in addition to the larger companies, to see what offers are available to you, and where you can go to get the best price. The more information that you get on your settlement options, the more educated decision you can make on when to sell it, how to find the best price, and what the terms of the sale are.
You can do a search online to find out the different kinds of companies that are available to give you offers and start looking through them until you find the best ones. Before you settle on anything that a company has to offer you, make sure that you compare it with other offers to make sure that it seems like it is right. Some companies may offer you a very high price, but then after you sign the contract, they may back out of their agreement.
If you are looking for structured settlement offers, you can do a search online and check out a few different companies, until you find one that seems to be the best deal for you. If the offer that they are giving you seems very high compared to other offers, you may want to stay clear of that offer. Some people end up getting into situations where they are forced to cancel a contract due to the company, and then it can take a while to get another company and enter in a new contract. Structured settlements do have the potential to earn you cash, and there are a lot of good companies out there to work with and make sure that you are going to be making a good choice on your settlement options.
Source
Monday, September 14, 2009
Structured Settlements Companies
This article provides useful, detailed information about Structured Settlements Companies.
There are many insurance companies that offer structured settlement annuities. However, it is important to choose the company that would be able to provide the maximum coverage and security. Also, the company must be able to advise about the legalities involved in structured settlements.
Conducting market research is very important before choosing a company to deal with the case. The company must have enough expertise and qualified employees to deal with the case efficiently. The consultants or advisors must be specialized in this field to provide expert advice on the dealings. There is no harm in finding out their qualification before handing over a case to them as this might affect adversely otherwise.
The insurance company must never make a customer feel that the agreement has been signed under pressure. It is a practice of authentic and genuine companies to mention to the customer all the benefits that would be offered by doing business with the company and let the customer decide for sometime on whether to enter into the agreement or not. This will allow the customer to reach to a decision without any influence from the company and does not provide the customer an option to blame the company if things do not go smoothly. The company must be able to provide details regarding the long tern compensation or debt to be paid.
Customers can find out what kind of settlements are being offered in the market and about the best deals available. This will help the customer decide on the best option for a particular kind of case. It is important to choose the correct company as a wrong company can cash in on the fact when the customer needs money desperately and might take advantage of this fact.
Source
There are many insurance companies that offer structured settlement annuities. However, it is important to choose the company that would be able to provide the maximum coverage and security. Also, the company must be able to advise about the legalities involved in structured settlements.
Conducting market research is very important before choosing a company to deal with the case. The company must have enough expertise and qualified employees to deal with the case efficiently. The consultants or advisors must be specialized in this field to provide expert advice on the dealings. There is no harm in finding out their qualification before handing over a case to them as this might affect adversely otherwise.
The insurance company must never make a customer feel that the agreement has been signed under pressure. It is a practice of authentic and genuine companies to mention to the customer all the benefits that would be offered by doing business with the company and let the customer decide for sometime on whether to enter into the agreement or not. This will allow the customer to reach to a decision without any influence from the company and does not provide the customer an option to blame the company if things do not go smoothly. The company must be able to provide details regarding the long tern compensation or debt to be paid.
Customers can find out what kind of settlements are being offered in the market and about the best deals available. This will help the customer decide on the best option for a particular kind of case. It is important to choose the correct company as a wrong company can cash in on the fact when the customer needs money desperately and might take advantage of this fact.
Source
Tuesday, September 1, 2009
When to Sell Structured Settlements?
When it comes to receiving structured settlements, many people do not mind the idea of receiving smaller payments throughout twenty years or so. After all, the yearly amount sent to them is more times than not more then what they were making yearly at their job. Plus, it gives them the feeling of security knowing that they will have a guaranteed income flow over the next several years. Even though there many reasons to be happy with the idea of payments on a monthly or yearly basis over a period of many years, there are reasons to want those arrangements to stop and to get a lump sum payment. Even though it is near impossible to force the paying company to do that, there is a way to sell structured settlement to a company who will in turn send you a lump sum check.
Most Popular Reasons for Wanting Money Now
If you are looking to sell structured settlement then you probably have a pretty good reason for doing so. The most popular of reasons seems to be that of a life-changing event such as the start of a new business, the purchase of a new home, or a child or two heading off to college. Even though a person may not think that these are extremely life-altering events in a person's life, they really are, especially if one does not have the money to pay for the expenses associated with such events. Since there is money set up in a settlement, there is nothing wrong with seeking to sell structured settlement in order to grab up the money that is rightfully theirs.
Additional Reasons for Selling Out Of Agreement
As we all probably already know, there is just a never-ending list of reasons why a person would want to sell structured settlement. If there is a divorce pending then that may be a very good reason to want to or need to sell structured settlement. The realization that there is a large amount of debts out there that need taken care of could spark the idea in someone to sell their settlement. Another reason someone would want to sell structured settlement is because they have come across unexpected medical expenses that they do not have the medical coverage to handle. Whether it is one of the above situations you are facing or it is something completely different, it is your money to receive and your money to do with what you please.
Finding a Buyer
When it comes to finding a buyer for your settlement, you will not probably have too hard of a time. You want to be careful though and make sure that you are still getting a good deal, even though you realize a portion of your money must go to the company buying your settlement. Just make sure that the money you are paying this company is not too much higher then what other companies would be willing to take. Make sure that you know all of your legal rights by consulting an attorney. A transaction this large, no matter what it is for, should always be reviewed by an attorney. Make sure that you have everything in order and that you know your legal rights and then you will be ready to sell structured settlement.
Source
Most Popular Reasons for Wanting Money Now
If you are looking to sell structured settlement then you probably have a pretty good reason for doing so. The most popular of reasons seems to be that of a life-changing event such as the start of a new business, the purchase of a new home, or a child or two heading off to college. Even though a person may not think that these are extremely life-altering events in a person's life, they really are, especially if one does not have the money to pay for the expenses associated with such events. Since there is money set up in a settlement, there is nothing wrong with seeking to sell structured settlement in order to grab up the money that is rightfully theirs.
Additional Reasons for Selling Out Of Agreement
As we all probably already know, there is just a never-ending list of reasons why a person would want to sell structured settlement. If there is a divorce pending then that may be a very good reason to want to or need to sell structured settlement. The realization that there is a large amount of debts out there that need taken care of could spark the idea in someone to sell their settlement. Another reason someone would want to sell structured settlement is because they have come across unexpected medical expenses that they do not have the medical coverage to handle. Whether it is one of the above situations you are facing or it is something completely different, it is your money to receive and your money to do with what you please.
Finding a Buyer
When it comes to finding a buyer for your settlement, you will not probably have too hard of a time. You want to be careful though and make sure that you are still getting a good deal, even though you realize a portion of your money must go to the company buying your settlement. Just make sure that the money you are paying this company is not too much higher then what other companies would be willing to take. Make sure that you know all of your legal rights by consulting an attorney. A transaction this large, no matter what it is for, should always be reviewed by an attorney. Make sure that you have everything in order and that you know your legal rights and then you will be ready to sell structured settlement.
Source
Thursday, August 20, 2009
Selling Your Structured Settlement or Not?
Before you make a decision to sell your structured settlement, think about what exactly you need for the money. Urgent medical expenses, buying a house or the decision to do further study are typically considered as good reasons. Look at your needs and the needs of your family first. Maybe you desire a new house. Or do you have kids approaching college age? If so, you will not only bring upon yourself a significant tuition expenses, but you are also have less of necessitate for a bigger house.
You should know that selling your structured settlement payment will make you lose a full amount for sure. Think about whether it is vital for you to give up the safety and future total amount before you make a choice. You should understand the implication, benefits and negative aspect so you can feel satisfied in the process of making final decision.
What are the Selling Options?
There are several options if you decided to sell your structured settlement. Anyway, you do not have to sell the whole settlement amount if you wish to. Here are the available selling options to be chosen to:
i) Full amount – The purchaser (property/casualty company) will calculates the best present-day rate and offers a lump sum cash payment to buy your structured settlement.
ii) Part of the payments – Only a several number of your future payments are sold to them (property/casualty company) at their best present-day rate.
iii) By percentages – You are only selling some percentage of each payment to the property/casualty company and keep the remaining balance for yourself.
Risks of Selling Structured Settlement
1) Unethical agent/broker:
Selling your structured settlement payments will need you to contact an agent/broker who will be able to assist you to take care of the dealings. This mean you probably fall into some game-playing and/or exploitation strategy if you coincidently dealing with an unethical agent/broker. They probably promised you with high quote, but at the end they claims unable do the transaction unless they get more money or down payment from you. Other agent/brokers possibly will claim to be “experienced” even they are only completed a week-long course. So, make sure you are dealing with agent or broker who has several years of experience in structured settlement and they were member of the Better Business Bureau.
2) Losing some money:
As highlighted at earlier of this article, you will not obtain the whole amount that you suppose to get over time if you choose to sell your structured settlement payments. Thus, you will lose some money and the safety of your future payments.
3) Takes time:
Although the federal law needs court to watch over in these dealings helps to guard you, but it also holdups you from receiving the fund as soon as you wish for. If you need the fund immediately, this could irritate you and delay your plans for on time payment. Usually, once you make a decision to sell your structured settlement payments, the process can take as fast as 4 weeks and may up to 12 weeks to get the court order and for you to obtain your lump sum cash payment.
Benefits of Selling Structured Settlement
The most important benefit of selling your structured settlement payments is, apparently, that you will receive a lump sum of cash money in particular time which you are able to make use of in any way you wish for. Of course, this will provide you a great privilege and flexibility in using your money, and could make peace of mind too if you have an urgent expenditure that could not be paid in any other way.
Source
You should know that selling your structured settlement payment will make you lose a full amount for sure. Think about whether it is vital for you to give up the safety and future total amount before you make a choice. You should understand the implication, benefits and negative aspect so you can feel satisfied in the process of making final decision.
What are the Selling Options?
There are several options if you decided to sell your structured settlement. Anyway, you do not have to sell the whole settlement amount if you wish to. Here are the available selling options to be chosen to:
i) Full amount – The purchaser (property/casualty company) will calculates the best present-day rate and offers a lump sum cash payment to buy your structured settlement.
ii) Part of the payments – Only a several number of your future payments are sold to them (property/casualty company) at their best present-day rate.
iii) By percentages – You are only selling some percentage of each payment to the property/casualty company and keep the remaining balance for yourself.
Risks of Selling Structured Settlement
1) Unethical agent/broker:
Selling your structured settlement payments will need you to contact an agent/broker who will be able to assist you to take care of the dealings. This mean you probably fall into some game-playing and/or exploitation strategy if you coincidently dealing with an unethical agent/broker. They probably promised you with high quote, but at the end they claims unable do the transaction unless they get more money or down payment from you. Other agent/brokers possibly will claim to be “experienced” even they are only completed a week-long course. So, make sure you are dealing with agent or broker who has several years of experience in structured settlement and they were member of the Better Business Bureau.
2) Losing some money:
As highlighted at earlier of this article, you will not obtain the whole amount that you suppose to get over time if you choose to sell your structured settlement payments. Thus, you will lose some money and the safety of your future payments.
3) Takes time:
Although the federal law needs court to watch over in these dealings helps to guard you, but it also holdups you from receiving the fund as soon as you wish for. If you need the fund immediately, this could irritate you and delay your plans for on time payment. Usually, once you make a decision to sell your structured settlement payments, the process can take as fast as 4 weeks and may up to 12 weeks to get the court order and for you to obtain your lump sum cash payment.
Benefits of Selling Structured Settlement
The most important benefit of selling your structured settlement payments is, apparently, that you will receive a lump sum of cash money in particular time which you are able to make use of in any way you wish for. Of course, this will provide you a great privilege and flexibility in using your money, and could make peace of mind too if you have an urgent expenditure that could not be paid in any other way.
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