Federal and state legislatures make laws and keep updating them to reflect current societal needs. Despite their good faith, some policies tend to fly in the face of our needs. Personal injury meted out by the negligent acts of wrong-doers on innocent victims has long been penalized, but the law still falls short of our expectations. The structured settlement process encouraged by courts awarding compensation and lump sum awards dished out to lottery winners give a stark illustration. As an annuitant, a successful personal injury plaintiff cannot alter the stream of periodic payments under a structured settlement entered after a lawsuit. With no alternative sources of income, structured settlement annuity jarringly prey on the mind of annuitants.
Harrison Jones was an avid boater until encountering a fatal accident. His boat’s outboard motor detached and flipped causing him to lose control and ramming into rocks, he was hurled several yards away into rivulets branching out from the lake. Jones was lucky as negligence in product liability stretches to the sea; he instituted a lawsuit against the boat manufacturer and received money to cover his medical bills and a series of scheduled payments under a structured settlement arrangement. After receiving a couple of periodic payments, Jones made an informed choice to sell his structured settlement and pay off mounting debts and bills.
Sell Structured Settlement
Jones discovered he could not pay off a debts and bills which were piling up or invest in opportunities he kept spotting after leaving his boating life. He consulted several structured settlement purchasing companies known to provide annuitants with the golden chance to seize opportunities and improve the quality of their life by selling their future payments for a lump sum in the eleventh hour. The decision to sell his structured settlement brought injected extra cash into his pockets to rein in hiking debts and under-paid expenses giving him peace of mind to bounce back from the financial cold boldly.
Why Reputable and Well-Known structured settlement funding companies?
The seasoned structured settlement buying company chosen by Jones guided him thoroughly, assessed his financial standing and provided him independent advice on the transaction. Jones was cautioned on the sensitivity of the decision to sell his periodic payments in return for a discounted lump sum by the buying company. Habituated structured settlement annuity companies safeguard the interests of the sellers such as Jones by complying with laws and regulations. For instance, they sought court approval and complied with the judge’s orders. He was able to dodge exorbitant interest rates imposed by unscrupulous dealers.
How Does A Structured Settlement Company Make Profit After Buying His Payment Rights?
Also known as a factoring company, the buyer of structured settlement payments will normally sell Jones rights to an investment company for a slightly higher price than it paid him. With many myths propagated against reliable factoring companies, Jones initially feared he may get ripped off. The structured settlement buying company offered him highly attractive rates and yet made a profit from the net payment.
Benefits of Selling A Structured Settlement
For Jones, selling his future structured settlements payments with a higher amount than he would have received when the lawsuit ended due to accumulation of interests. Apart from the convenience of having his cash in hand, Jones got liquidity with the money as he could divert it wherever he wished. He could now exploit more avenues of investment tailored to his immediate demands and abilities. The structured settlement company rapidly became his ray of sunshine by granting him the much-needed cash. Jones was mindful not to spend foolishly in a shopping spree and temporary vacations, today; he runs a wholesale boat repair and accessories store.
Who Rules the Roost in the Structured Settlement Industry?
Fairfield Funding boasts the sharpest network of attorneys well-versed with SSPAs and cross-cutting laws to navigate all curve balls in court or judge-made handicaps. The company will parcel out lump sums to annuitants craving fast and easy cash with money-making discount rates, this buyer doesn’t eat up all your future payments.
Olive Branch Funding is a among the handful of structured settlement buying companies that can offer cash up front in consideration for part or all of your future structured settlement income streams. They’ve the best standard agreement, clear-cut processing and expertise in court and judge-made requirements in factoring transactions.
Woodbridge Structured Funding offers the best platform to trade your structured settlement proceeds. It has a streamlined workflow in the industry, viz. customer care, legal representative for each client, financial engineers and statisticians to retrieve price quote, bundle all paperwork and file in court for approval.