Sell Settlement Payments For Cash – Los Angeles County

If you are among those people in Los Angeles County who are in a tight financial fix and the thought of selling a legal settlement, which you’ve been granted in the past occurs to you, don’t jump right into transacting a sale. Even if time is of the essence (you need to finance a child or grandchild’s college tuition, or to pay off a hospital bill or some other emergency situation) and you are in urgent need of cash, you need to take into consideration some important issues and matters before selling your legal settlement in order to obtain the best value for it.

Life Settlements

Now if the main reason you want to divest partially of your structured settlement is to have some extra funds to embark on a vacation with your spouse or finance a home renovation or purchase, then there’s all the more reason to wait a while and discuss things thoroughly with your lawyer first. It is also crucial to find a reliable third party firm to facilitate the sale. Before even proceeding to authorize the transfer of your annuity or structured settlement into another person’s name, you need to know state laws/regulations that may place a restriction on the liquidation of a structured settlement.

Structured Settlements 101: How Structured Settlements Work

There are tax matters that you may also have to deal with.  A good company specializing in selling annuities or structured settlements will be well-informed on state laws and taxation matters, and may package the consultation with their professional fees.Good legal advice will be your safest bet. A legal counsel will ensure that you get the money you deserve. It is important to comply legally with the steps necessary to carry out a sale in your district.

Structured Settlemen

Know How to Sell Structured Settlements or Annuities in Los Angeles County ?

The basic definition of structured settlement is, an allowance given to the beneficiary of a financial award. Normally any structured settlement happens due to an accident or injury. The person gets financial benefits through structured settlements in yearly, quarterly or monthly mode after litigation. At any time the person can sell a part of the remaining payments or all of the structured settlement payments. But to sell the remaining structured settlement payment, a person needs approval from the court. Under structured settlement people get money periodically. In many circumstances it has been seen that periodic payments fails to meet the requirements of the person. To fulfill the need, the person can sell the remaining payments of the structured settlement and in return get cash.Sometimes an immediate need for cash arises. The amount may not be big but if you are unable to collect the amount, you can sell part of the remaining periodical structured settlement payments.Selling the payments of structured settlement is a little complicated. You can always have a session with a financial advisor. The advisor would guide you rightly by calculating and modeling the whole process. If you make your mind to sell the structured settlement partially or fully, then you can apply online. An expert on structured settlement would contact you and advise you on the details and also let you know how much you would get if you sell the structured settlement payments. Structured settlements can be sold when there is a monetary emergency. There is an option of selling the settlement in parts, instead of opting to sell the whole settlement for a lump sum. The whole settlement needs to be sold only in case of dire emergency when the cash has to be raised immediately. Structured settlements can be sold as portions when money is required in smaller quantities and does not require the lump sum that would be available if the whole of the structured settlement is sold.Structured settlements ensure periodic payments of a lump sum, and the lump sum can be released by selling a part or whole of the structured settlement. However, when a structured settlement is sold for a lump sum, the amount received is usually considerable less than the market value or lower than what would be received in monthly installments, but they do provide the option for sale in case of financial necessity. In some cases where the structured settlement on periodic basis is no longer required, such as in cases of worker's compensation where the medical bills no longer need to be paid after the individual is discharged from the hospital, selling off the remaining portion of the structured settlement can produce a tidy lump sum that could be used for other necessities.Consider the legalities before selling a structured settlement, as some might not have the option of being sold earlier for a lump sum. Also, when the negotiations take place, some contracts might put up the restriction on sale of the structured settlement. Since structured settlements help in tax savings, it might make the person liable to pay tax after the settlement is sold. Also, if the settlement is being sold to raise cash for an emergency, it is possible that the insurance company might make an offer considerably lower than market value. Licensed brokers and attorneys would be able to assist in selling a structured settlement in an appropriate manner since they are specialized in this field. It is important to take their advice before selling either a part or whole of a structured settlement as this might result in a bad judgment on part of the individual. Life Settlements

Looking to Sell Structured Insurance Settlements For a Lump Sum?

Settlement Lawyers What is a Structured Settlement Annuity?A Structured Settlement Annuity (SSA) is a contract issued by an insurance company that originated from a legal action such as a car accident, workplace accident, wrongful death, medical malpractice, etc. The original claimant (plaintiff) elected to accept a series of payments instead of a lump sum settlement. This series of payments are guaranteed by an US based insurance company and is in the form of a fixed annuity.In about 20% of the cases the claimants (or their heirs) elect to sell their SSAs (in full or part) in exchange for a discounted lump sum of cash today.What is the process when a Claimant decides to sell their SSA? Claimants that are considering selling their SSAs seek out factoring companies which are institutions that buy SSAs. Claimants are looking to get the largest lump sum of cash today in exchange for the rights that they give up to receive those future payments.This process must go through the court system which protects both the claimant and the factoring company in the selling of the SSA. Once the agreement is made and approved by the courts the factoring company pays the original claimant the agreed upon amount in a lump sum and the claimant signs off on all rights to receive those future payments.When a factoring company buys a SSA from a claimant they then offer to sell those court ordered rights to recoup the funds that they paid out. Some factoring companies package the SSAs and sell them on Wall Street or to large institutional investors and pension plans. Some factoring companies sell them to individual investors through a network of brokers as a Safe Money alternative which are good choices for both IRA funds and non-IRA funds.The payment streams can be either ongoing monthly payments for a set period of time or can come in the form of a deferred lump sum. The safety rests in the insurance company that is backing the payment stream. In addition, in most states there are State Guarantee Associations which back the principal of these annuities up to a certain amount. These are fixed annuities and as such they are afforded this protection.The court process is designed to protect all parties. The court sends a letter to the underlining insurance company notifying them that their policy-owner (the claimant) has sold the rights to their contract to the new owner. Once the insurance company responds and accepts (Acceptance Letter) that transfer of ownership the security to the new purchaser is complete. Immediate Annuity

Sell My Settlement Payments Los Angeles