Structured Settlement Purchaser

A structured settlement purchaser is someone who is interested in buying up a settlement for a lump sum payment amount from someone who has been granted a settlement by the court. Companies or individuals who offer to pay a lump sum amount often do so because they stand to make a profit from the sale. A judge may have to approve the sale before a structured settlement purchaser can make a purchase on annuities issued by an insurance company. If the decision has been made to sell the seller should seek legal counsel and shop around for the best offer. The owner should think about the consequences of not having a certain amount of money coming in at regular intervals before selling out.
When a person has become injured and a settlement is made in court to compensate the injured party, she is sent a payment on that settlement at regular intervals until the settlement is paid in full. A structured settlement purchaser offers to buy this from the injured party in exchange for one lump sum payment. This may sound great at the time but it will be easy for the injured party to spend the money quickly and not have anything left for the future. This could turn out bad if the person is unable to work or is partially disabled where he or she can only work at low paying jobs. This can be a great temptation for someone who does not have the discipline to overcome or put the truth into perspective. A person should ask why a lump sum payment is necessary and should give himself time before making a final decision.
The insurance company who is liable for the payments purchases annuities to help cover the amount due to the injured party. Annuities are often funded by investments made by the company who owns them. The interest earned helps to cover the amount due. Some insurance companies will not allow a structured settlement purchaser to buy them. In addition, some states have laws that prohibit the sell of annuities or only allow the sell to be valid if it is approved through the court system. Obtaining legal counsel can help a person to know if it is even possible to sell their annuities for a lump sum payment and if it is how he or she can go about doing it.
Quotes are available online through companies who offer choices from a structured settlement purchaser. The choices usually involve several different quotes from various buyers so that the seller has a choice who to sell to and how much the lump sum payment is for. Of course the main thing is to get the most money from the annuity but a person should be careful to choose a reputable company to deal with. Prayer and the Lord's guidance should be sought in a decision as serious as this one. "Howbeit when He, the Spirit of truth, is come, He will guide you into all truth: for He shall not speak of Himself; but whatsoever He shall hear, that shall He speak: and He will show you things to come" (John 16:13). Legal documents precede the actual sell so this is a good time to seek legal counsel and make sure all of the documents are in order.
The court process to selling an annuity could take as long as 30 days or more. The entire process could take as long as a couple of months from start to finish. A person wanting to sell to a structured settlement purchaser needs to think about what it will mean to him or her, not only presently, but in the future. Not having a set amount of money coming in each month or on a regular basis could mean the difference in living well and barely surviving. Most states require that the person be allowed to change his or her mind before making the final sell. This is good because for some people it can be a very serious decision, especially someone who is not capable of holding down a full time job. Having the process go through a court process actually helps to protect the rights of both parties.
Limitations of sell do exist for some types of payments that a person may want to find a structured settlement purchaser. These may include pensions, social security payments, mortgages, veteran disability, money due to a minor, and any cases that are not considered final settlements. Annuities that fall within the legal guidelines that can be purchased are normally for funds that are provided to an individual from an insurance company where injury or illness has taken place or from someone who has won a lottery. Guaranteed life contingent payments from a lawsuit will usually qualify.