With A Structured Settlement Annuity, You Don’t Have to Dig Deep For Immediate Finances As It Can Be Converted Into Quick Cash Fast and Easy

The 1990s gave birth to today’s structured settlement factoring companies who help payees who want to convert their future income stream into up front one-off lump sum payment. Factoring companies first appeared in the lottery sector, buying future disbursements at a discounted price from winning champions. Their experience in purchasing future payments made them well-positioned to make headway in the structured settlement market. The company offers lump-sum money to plaintiffs with compensation locked in future annuities and monthly installments when they find themselves in a financial quagmire. J.G. Wentworth, the industry’s leader has for long been a reliable structured settlement annuity converter for annuitants. The multi-billion company was founded in Philadelphia, Pennsylvania as a firm financing social care homes, later branching out into the structured settlement where it has made indelible footprints.

I was working in a funeral services home where I was exposed to asbestos leading to mesothelioma, a malignant cancer. I sued the employer in a personal injury lawsuit bringing home a generous structured settlement worker’s compensation plan with lifetime monthly installments and nine lump-sum cash outs payable in the next five years. When the doctor told me I had only a few years to live, I decided to sell my future payments to avoid turning in grave latter when it was too late. I sought to sell to J.G. Wentworth all of my structured settlement payments worth $1,174,000.

Sell Structured Settlement

How Much Could I Make for the $1,174,000 Structured Settlement Annuities?

Structured settlement purchasing companies use a complex formula that operates on various concepts, including money’s time value, current worth and discount rate. I could not sell at $1,174,000 because the money payable in future has less value than today due to inflation. As a result, the time value of cash meant I had to receive less for the future payments. The interest discount rate applied to work out the net lump-sum value I was entitled for the two annuities did not eat into the annuities aggregate amount. The time value of your money also depends on other factors such as date of maturity, the market interest rates, market dynamics and total value of your structured settlement payments.

Preliminary Hurdles New Yorkers Like Myself Face When Selling Structured Settlement Proceeds

I had to comply with a handful hurdles initially before I could sell my future income to J.G. Wentworth. The New York SSPA required the company buying my annuities to advise me in writing to get financial and legal expertise on the transfer which they did. J.G. Wentworth also served me with a copy of the agreement, disclosures and the money value and discount rate were conspicuously as required by the law. The court where my application to sell was approved considered my financial status and present needs. They also assessed the transaction to ensure the discount was fair, just and reasonable. The court approved my transaction after a lengthy enquiry.

Courts in New York Usually Deny Applications to Sell Your Structured Settlement?

Although the New York Structured Settlement Protection Act has stricter legal parameters, a vast majority of the factoring transactions sail through court with approval. My application was approved on the first instance. Attorneys on behalf of Wentworth also represented me. Contrary to popular belief, the New York SSPA does not require the financial or legal advisor to appear in court. Additionally, you can appear for as many times as you want to sell your annuities provided you meet the test of “best interest”, that’s the sale will not ne prejudicial to your financial security. Despite the uproar against businesses such as J.G. Wentworth, they feed into the needs of people like me who have only a few days left to enjoy the money. My financial future also turned unpredictable, the company provided me with the liquidity I needed.

Top-End Structured Settlement Companies in the Factoring Industry

J.G. Wentworth

Wentworth has a long-drawn-out experience in the factoring of structured settlements going back in the early 1990s, expect them to traverse you across a rocky process before the judge, arrange for approval hearings and comply with the law on the agreement and disclosure particulars.

Peachtree Settlement Funding

Peachtree has honed attorneys and structured settlement consultants who help payees of annuities to cash out lump-sum payments in the shortest time. They have extraordinary success in the industry garnering superb ratings with the consumer and BBB.

Stone Street Capital

Stone Street Capital has a responsive customer support that guides stranded structured settlement payees with an expeditious court process, money-making discount rates and profitable price offer.