Now I am sure you are asking “Can I really get my money today?”  The truth is that your structured settlement is not an ATM card. In the real world, as opposed to a fantasy land where money falls from trees and 800 numbers promise instant gratification, structured settlement transactions must be accomplished according to strict legal guidelines.  First, a disclosure of the price and other contractual terms will be provided for your review.  Next, a Transfer and Assignment Agreement is executed.  This contract can only be signed after a waiting period as required by your specific state’s law.  This requirement can take 10 days.  Then the proposed sale is announced to all interested parties (payment beneficiaries, insurance companies).  They have up to 30 days to respond to this legal notice.  Last, a court date is set for approval by a judge.  Both you and the structured settlement purchaser are at the mercy of the court’s schedule.  As state’s budgets are getting tighter, the court’s schedules are getting busier.  Less judges = longer wait times.  Once the transfer is approved in court, Annuity Transfers funds your transaction as soon as possible

With ALL that being said you need to sit back and ask yourself — is a company being honest when shouting, or singing, “Cash Now” and “Funding in as little as 24 hours”?  If they are following the law, this is not going to happen.  Do not let anyone tell you differently. There is no reason to expect something in 24 hours or 2 weeks, or even a month. If someone tells you otherwise, they are not being honest, and dishonesty is not a good foundation for a good business relationship, especially when it comes to something as important as selling your structured settlement payments.  

Call Annuity Transfers anytime at (888) 638-0900 whether or not you have chosen a buyer or whether or not you have decided to sell your annuity payments. We are happy to provide information regarding the time frame associated with the legal process, our company, or this industry.  We are here to help!

Each seller should take a very close look at their personal situation in order to decide if selling their settlement payments is the right choice.  There are countless things to consider, below are a few suggestions on where to start.

Do you have another source of income?  Will selling your payments put a monthly financial strain on you and your family?

1. Why were these payments set up in the first place?  Are there ongoing medical bills for which your payments are being used?
2. Why do you need cash now as opposed to waiting to receive your payments over time?
3. How will this help you and your family today?  How will you continue to support yourself and your family in the future taking into account the sale of your payments?
4. Is the company you are talking with about selling your payments listening to your needs or are they trying to sell you?

Once you have explored all your options to raise the money you need, and settled on the fact that selling your structured settlement payments is the best option for you and your family, you will then need to find a structured settlement purchasing company that is right for you.  Your payments have a strong value today and it is important to do some research so you can make sure that you enter into a contract with a company that is offering a fair price for your payments and will fund your transfer as soon as possible after a signed court order is received.  Always remember that when comparing prices, a price that sounds too good to be true, most likely is!!!

The choice to sell your structured settlement payments for a lump sum of cash is ultimately yours.  If you want to do business with a company that is as serious about this decision as you are, understands the financial impact on you, and will make decisions with your best interest in mind, then you’ve come to the right place. At Annuity Transfers, we take this process seriously.

Parties to a structured settlement transfer are motivated differently.  The seller of structured settlement payment rights seeks to maximize their present value in the form of the largest lump sum possible.  Sellers should need funds to avoid serious financial problems or to support a positive financial opportunity.  If you decide to sell your payments it is for one major reason; you need liquidity in the form of a cash infusion.  Conversely, buyers of structured settlement payment rights, namely companies that are settlement purchasers, seek to maximize their return on the investment, which includes time, marketing expenditures, and cost of capital.  An independent third-party has no motivation other than to provide a service to you, the seller, and has no skin in the game.  As a result they can step back and read the Transfer Agreement with a critical eye, evaluate the price you are receiving for the payments, and take into account how you expect to use the sales proceeds.

Judges take Independent Professional Advice seriously.  In fact many times the quality of the advice in terms of the depth and scope of the work performed as communicated in the ‘IPA letter’, affidavit, or live testimony will convince the judge to approve the transaction.  Of course, the opposite can be true in situations where the IPA letter is bare bones such that it does not illustrate the depth of the advice provided to the seller.  The judge may doubt the quality of the transaction and question whether it is really in the best interest of the seller.

The bottom line is that almost all state transfer statutes require that the seller of structured settlement payment rights either receive Independent Professional Advice or knowingly and voluntarily waive this opportunity in writing.  Some states do not allow for an ‘opt out’ and others require that the transfer company foot the IPA bill.  The opportunity to ask questions of someone completely unconnected to the process is important, does nothing but increases your odds of a judge approving the transfer, and can provide important piece of mind to sellers of structured settlement payments.

Nonetheless, here is a quick list of documents that you will need to locate:

1)      Annuity documentation/policy showing policy number, payments, due date, and designated beneficiary.  If you have been married or divorced since your settlement, then it is also a good idea to call the life insurance company and request a current Benefits Letter that documents this information, highlighting the beneficiary currently named on the policy.  Most life insurance companies will require this request in writing.  For a faster turn-around (if you have access to a fax machine), ask them to fax the letter or that they scan and email the information to you. 

2)      Settlement Agreement and/or court order approving the settlement.  If you were a minor at the time of settlement, then odds are that your settlement was approved by a judge who signed a Minor’s Order.  Both the Minor’s Order and the Settlement Agreement contain vital language regarding the origination of the structured settlement annuity payments, the parties to the lawsuit, and important information about the payments.

3)      Uniform Qualified Assignment and Release.  Each single premium annuity policy originated to fund a structured settlement involves two different insurance companies.  It is important to note that you DO NOT own the annuity.  What you’re selling in this process is your contract/legal right to receive a payment(s) flowing from an annuity issued for your benefit.  The contract/payment right flows from an annuity owned by one insurance company and issued by another.  The Owner owns the policy and purchased it on your behalf.  The Issuer (a company like Allstate Life, State Farm Life, Met Life, Monumental Life, Genworth Life, American General Life, etc.) is a well-known large insurance company.  The Issuer cuts checks to you, but the Owner owns the policy. The Uniform Qualified Assignment and Release clearly documents all parties.

4)      Most recent check stub or bank statement if you receive payments via electronic deposit.

5)      Several years of tax returns to document outside sources of income.

6)      Personal ID documents including your marriage license, divorce decree, and bankruptcy discharge (if applicable).

The process associated with selling your structured settlement annuity payments is lengthy requiring court approval of the sale.  Timing is of the essence.  The more information about your settlement and payments you can gather up front, the faster the process will move. 

Unfortunately, no one is receiving these annuity payments due to a happy event.  Something unfortunate happened to you or a family member or you would not be receiving these payments.  Revisiting these documents can be painful and bring up unpleasant memories.  It is best to be prepared and ready to revisit the issues related to the settlement.  Bottom line, despite the frequent “Cash Now” refrains and jingles on TV, nothing about selling your structured settlement payments is easy, funny, or fun.  However, being able to put your hands on these documents is an important first step and one that can make a difficult process easier and more efficient.

Consider the following about Annuity Transfers…

            1.  In business, serving our customers, since 2003.

            2.  Consistently provides a high level of service as evidenced by our many repeat customers.

            3.  Built a reputation for integrity and fairness (check it out!).

            4.  Provides you the opportunity to work directly with company ownership.

            5.  Does not pressure anyone at any time.

            6.  Funds your transaction with our money — no waiting on funding!

            7.  Fully discloses everything you need to know.

            8.  Guarantees a pleasant (dare we say, enjoyable) experience.

            9.  Respects you and understands how important this transaction is to your future!

Having said all of that, we know that we must prove ourselves to you — our customer.  Give us a call, and a chance, we are ready to help.

A dollar today is worth a dollar, but as in all things the passage of time is unkind, and a dollar due in five or ten years is worth less than a dollar today.  As a result, companies purchasing structured settlement payments do so by offering a discounted present value, which is calculated by applying a discount rate.  Discount rates are the exact opposite of interest earned on a savings account, bond, or certificate of deposit.  The higher the rate of interest the more the investment will yield in the future, whereas the higher the discount rate the lower the value for your structured settlement payments today. In this calculation one or two percentage points can mean thousands of dollars to you. 

The transfer statutes of several states require the disclosure of the discount rates in the Disclosure Statement.  Sellers of structured settlement payment rights should not be afraid to ask: What is the discount rate?  How did you arrive at that rate?  Ultimately, approval of your transaction and receipt of a lump sum in lieu of waiting for the receipt of the payments from the insurance company hinges on a judge determining that it is in your best interest to sell your annuity payment rights.  The discount rate will be an important factor in the judge’s decision.  Too high a rate may jeopardize approval. Disapproval means you have wasted as much as two months or more to get in front of the judge only to have a denial issued, returning you straight to square one. 

Ultimately, it is not in your best interest to sell your future annuity payments at an above market discount rate.  The reality is that there are currently very few places where investors can turn for a safe fixed rate of return.  Your structured settlement payments have a value today that is more than their value two years or six months ago.  In addition, every day that passes between today and the due date of your payments increases their value.  Remember, a dollar today is worth a dollar; a dollar next week, slightly less; a dollar in fifty years just a few pennies. 

The discount rate drives value.  Sellers of structured settlement payment rights who ignore the rate and do not seek offers from different sources do so at their own peril and may ultimately end up with a judge denying the sale. Do not simply fall for ‘cash now’…stand for a better value and a better rate.

Together they were able to raise enough money to purchase:  2 sheep, 2 goats, 2 heifers, 1 llama, 2 water buffaloes, 1 flock of chicks, 1 flock of ducks & geese, 1 pig, 1 flock of goslings, a trio of rabbits, 1 beehive of honeybees, 3 schools of fish fingerlings and an environmental gift of tree seedlings.  Every gift purchased helps provide sustainable solutions to hunger and poverty for children and families around the world.

In recognition of the impact they are making on behalf of the families served by Heifer International, Annuity Transfers was granted membership into the Partners of Hope “for demonstrating extraordinary leadership and commitment to ending hunger and poverty, while promoting equitable sharing of the world’s resources, stewardship of the Earth, justice and peace…and generously reaching out to a world of communities through the life-saving gifts of livestock and training to those less fortunate.”

The employees are grateful they are able to participate in this program and plan to continue this annual tradition each Christmas season at Annuity Transfers.

• You talk to the decision makers.  No middle man.  There is no ‘ask my boss’.  Annuity Transfers is employee-owned.  You are already talking to the boss.
• A good value for your structured settlement payments.  A price that is understood and clear without ambiguity, hidden fees, or ‘gotchas’. 
• A thorough explanation of the approval process including any particular challenges or unique requirements in your state and area of residence.  We have purchased payments throughout the country and draw on that experience daily to assist our customers.
• An efficient and accurate process.  The contract documents will be accurate the first time.  Stopping and starting, going back and fixing errors, slows down the process.
• We are not a huge company.  Each transaction is extremely important to us.  You will not be treated like a number or handed off from person to person as you move through the approval process. Instead, you will always get an answer to your question and have one main point of contact throughout the process.
• A name that is known and respected in the court room.  Judges throughout the country know our reputation and respect the discount rates we offer customers.  We simply will not put a deal in front of a judge that we don’t feel 100% confident will be approved.  That is NOT the case for many of our competitors!
• Your money quickly after court approval.  Because we use our own capital to buy your payments, instead of a third party’s funds, we have the ability to fund your purchase within three days of court approval.  We are waiting for the insurance company to receive the Order – nothing else. 
• Stability, honesty, knowledge, experience, accuracy, efficiency, friendly people, and respect for you.  

You will not regret doing business with Annuity Transfers.

 1.  Are you a broker or a direct funder?

 2.  What is your rating with the Better Business Bureau?  Direct me to the rating on the internet in order to verify…

 3.  How long have you been in business?

 4.  What is your approval rate in court?

 5.  Have you ever completed a transaction in my state?  What about the specific area and county where I live?

 6.  Is the amount you have quoted gross or net?  Will I be responsible for any fees or expenses?

 7.  Are the testimonials on your website real?  Prove it…

 8.  Is a commission, referral fee or any other bonuses being paid to anyone as part of my sale to your company?

 9.  Do you operate any other businesses or websites using a different name?  Is the connection between companies disclosed…if not, why not?

 10.  Has your company ever filed for bankruptcy? If so why?  If so, how can you assure me that I will be funded after court approval?

 11.  How quickly will I receive my money after court approval?  What is your funding process…again, are you brokering my payments to a third-party?

 12.  Given that so many companies want to buy my payments, why should I do business with you/your company?

Navigating the various companies offering to buy your structured settlement payments can be difficult and confusing.  We believe this list can help sellers determine a level of trust with the company.  The reality is that all companies offering to buy your structured settlement annuity payments are not created equal.  Some will offer a much higher price, some will need to broker your payments to a third-party because they lack their own capital, some have declared bankruptcy in the past or operate shadow companies and websites under different names.

The answers to these questions are important and any difficulty answering these basic questions could be a sign that there may be trouble ahead when it comes time to fund your transaction after court approval, or even difficulty obtaining court approval.  We hope this list is helpful to you.  Happy Holidays!

Most new websites offer to solicit a price from various qualified funding sources and report back with the best offer, but do not disclose those funding sources.  Essentially, they offer to put your payments out to bid in the market as a whole in an attempt to get the best price possible for the payments.  We believe this particular approach raises some questions that are difficult to answer:

1) How do you ultimately know you are receiving the best price?  Are you provided with all bids, or just the one that is supposed to be the highest?  How many bids were obtained?

2) Who is the final funding source?  How quickly will the funding source fund the sales proceeds to you after court approval?

3) What is the reputation of the funding source?  Do they maintain a high rating with the Better Business Bureau?  Do they have multiple complaints filed with the BBB?

4) Does the broker have a direct relationship with the funding source?  Is the broker owned by the funding source? 

5) How is the broker compensated?

It is likely that the funding source has quoted the broker a price and then the broker has quoted a lower price to you and stands to be compensated at the difference or price-spread between the two prices.  Brokers doing business in this fashion are not typically apt to disclose all bids to you and are especially not apt to disclose the names of the funding sources.  Why?  The broker does not want you to call the company directly and begin negotiating on your own behalf.  In other words they do not want you to become your own broker. 

At Annuity Transfers, we believe that YOU are the best advocate for YOUR payments and can obtain the best price by being your own broker and negotiating directly with the decision maker.  This decision is too important not to be able to talk directly to the entity contracting to buy your structured settlement payments and have your questions answered by the source. 

Is the broker really adding value, or just taking a cut…BYOB!