 |
 |
|
|
|
|
|
Frequently Asked Questions (FAQ's) |
|
|
|
|
|
|
|
|
|
|
|
|
Q. What is a structured settlement?
A. A structured settlement is an arrangement set up to pay compensation for a personal injury, wrongful death or workers compensation claim, with payment streams to help meet future financial needs. It is usually funded through an annuity.
Q. Do I have to sell my whole settlement? What if I only want to sell part of it?
A. You can sell all or a portion of your settlement depending on how your annuity payments are structured. Call us for a quote.
Q. How much money will I get?
A. The amount depends on several factors. Two important things we consider is your specific settlement plan and your individual need. Call us for a quote.
Q. How long does it take to get my money?
A. After you enter into the purchase and sale agreement, the process takes anywhere from four weeks to three months. Six weeks is typical.
Q. Do I need a lawyer?
A. Although we recommend you seek independent counsel or financial advice, we do provide an attorney who presents the funding transaction in court.
Q. Why does the court have to grant permission?
A. For your protection, most states have laws governing the sale of structured settlements. The Structured Settlement Protection Act dictates that all sales must be approved by a court.
Q. What can I do to improve my chances of getting approved by the courts?
A. Establishing a clear plan of how you will use the money is a good start. Demonstrating that you have a financial need or hardship is also helpful.
Q. Do I have to appear in court?
A. It depends on the jurisdiction where you live and the judge reviewing your case.
Q. Do I have to pay taxes on the cash I receive?
A. The cash you receive has the same tax treatment as the money provided by the structured settlement. In most cases these payments are tax free.
Q. I have bad credit/felonies/tax liens/etc., Will that hurt my chances of getting my money?
A. We see this all the time and we'll work with you. Please call us for a confidential quote.
Q. Do I have to repay you?
A. No, this is not a loan. You are selling your right to receive future payments in exchange for cash now.
|
|
|
|
|
|
|
|
|
|
 |
|
