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Structured
Settlement Payments Information
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Structured Settlement
Payments - Information about
Structured Settlement Payments
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Structured settlement payments; receive a
lump sum for structured settlement payments, if you're thinking of
selling structured settlement payments you must decide if you wish to
sell the entire structured settlement or only a portion of it.
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Structured settlement payments
information; Many people who are
receiving monthly payments under a settlement agreement do not realize
they can sell all or a portion of their annuity payments for a cash lump
sum. Getting paid a lump sum can be a way to help fund the current life
needs of your family. Receiving the money now rather than each year or more
of payments structured
in the future can be a big advantage to some people. Factoring is the
name of the process of selling ones legal right to receiving future
structured payments in exchange for a the present value of that money.
REMEMBER, The sale becomes a legal contract with the settlement company
and is legal and binding.
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If you're thinking of
selling a structured settlement you will have to decide if
you wish to sell your entire structured settlement or just a
portion of it. When you seek offers to sell structured
settlement payments most will probably want the entire
settlement. You may not want, or need to sell all of your
payments. You should only sell an amount that you actually
need, the court in your state will also need to approve the sale
for
being in your best interest.
Shop around for the
best offer that fits your needs, and the needs of
your family, taking the future in while making your
decision.
Structured settlement laws in
place are designed to protect |
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the individual receiving structured settlement
payments as part of a lawsuit or
some sort of settlement and wish to sell their structured payments. Under the law
a court would have to approve any transactions to sell settlement
payments.
A transaction must in the best interest of the person receiving the
structured settlement,
their family, dependents or estate. If a court order and
approval is not received, a federal excise tax of 40% would be paid on
the total payments sold. This law is intended to protect people receiving
offers of cash for their annuity payments from being defrauded by settlement buyers
and even family members.
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I'm sure you've seen advertisements urging you to
sell your structured
settlement payments. Many beneficiaries wonder if they should sell and
cash out, especially if they are in a situation where they need the
money.
This is a major financial decision and you would be well advised
to carefully evaluate your options before making a decision. You need to
determine if selling all or even a portion of your guaranteed settlement
payments is in your best interest. It usually takes about two months
from the date you start to complete a sale and for you to receive the
cash when you sell insurance payments. For more information please fill
out the form on the right.
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It
can take approximately 2 - 3 months for processing of structured
settlement payments, some state laws have established minimum waiting
periods for certain steps of the transaction. It will also take time to
file papers at the court and to be granted a court date to get the sale
of your structued settlement annuity approved.
Who are candidates to receive structured settlement payments?
• Structured Settlement Payments
• Insurance Settlements
• Lottery Payments
• Annuitized Prize
Winnings
• Note Holders
• Annuity Payments
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