In the wake of consumer-oriented services that unveil immediate solutions to intractable solutions, folks can now relish in handy solutions to meet their demands painlessly. Unlike our ancestors who never knew of fast food, social media networking, online merchandising and the 21st-century digital technologies, our world has evolved in tandem with our ever-changing needs. Pocket-wise, today’s folks, have a broad range of options such as payday loans, lump-sum now for lottery winnings, structured settlements, and future pensions. Structured settlements have long been restructured by payees into a lump-sum by trading in a portion or the whole of the income stream to provide fast, easy cash for recipients. In the highly structured world of financial portfolios, one of the most esoteric transactions is the sale of structured settlement payment rights.
Eric Haley instituted a personal injury lawsuit against a medical doctor in Michigan following a failed transplant surgery causing him lose one of his kidneys. All of it resulted in compensation windfall of money fenced in a structured settlement. When he started receiving his limited monthly installments, Haley life seemed to reel from one crisis to the next as he could not manage to pay off house mortgage rates that amounted to millions. In early 2014, after having had his chips with an unforgiving economy, he decided to convert his future income stream into a lump-sum award and claw his way to financial stability.
Sell Structured Settlement
Start By Deciding What You’re Selling
Haley’s aggregate annuities and monthly installments totaled to $400,000, and he wanted to hive off half of the periodic payments. He explored for structured settlement funding companies with a lucrative price offer and low discount rate to enlarge the possible lump-sum payment recoverable from a factoring deal. When he contacted Stone Street Capital and offered to tradeoff half his lifetime aggregate payments, the price quote surpassed his projection and agreed to transact with them.
Court Approval, Haley’s Petition Came For Hearing in A Local Court
Haley’s buyer of structured settlement annuities and payments lodged a petition in his county circuit court. Haley received a disclosure statement, court filing affidavits and terms of the transfer from Stone Street Capital. The hearing date had dawned before Haley expected, the judge reviewed all documents and questioned him on the sale. The court issued a final order after making findings the factoring transaction was in his “best interests.”
What Does it Take to Sail Through in Court?
As a controlled transaction, Haley could only access lump-sum payment with the blessings of the judge. To persuade the piercing judge he needed immediate cash, Haley was taken to task to demonstrate how he would fend for himself if the money got dissipated. Fortunately, he adduced detailed information on his unpaid tuition fees, ballooning debts and his alternative sources of income. Whether an application to proceed with a factoring transaction will succeed or not depends on the payee’s financial circumstances, implications of the sale on dependents and annuitants welfare as well as a handsome lump sum in return for payment rights. Haley boldly accounted for the substantial periodic payment he had received, and a significant portion earmarked for college fees.
Lucrative Structured Settlement Deals Work Like A Dream
In spite of the rigor involved in transferring his payment rights, Haley felt relieved after the court finally sanctioned his transaction. The structured settlement funding company released his lump-sum cash payment within a couple of days. Through the transaction, he raised enough money to pay college tuition for the rest of his course, learning materials and accommodation expenses in the campus.
The Top Brass Structured Settlement Purchasing Companies In The Secondary Market
Stone Street Capital will have your application disposed of by the county judge in a shorter space of time, fine-tune your agreement to financial demands, and comply with statutory and court requirements.
Peachtree Financial Solutions will buy your structured settlements, lottery winnings, and annuities at an unbeatable price offer while you can estimate the lump sum with online calculators with a free quote. The company boasts a vast financial portfolio to fund the largest lump-sum awards.
Fairfield Funding is equipped with the tools of the trade to act as your representative throughout the process, files applications using pre-booked case numbers and renders more flexible solutions to annuitants facing economic difficulties.