F.A.Q
Q: "How does a structured settlement differ from an annuity?"
A: A structured settlement is a legal term that refers to a deferred payout arrangement between two or more parties that usually results from the settlement of a personal injury lawsuit where the injured party receives specified monetary payments over a fixed period of time.
Unlike settlement lump-sums, annuity lump-sums are taxable because they stem from an investment plan rather than from personal injuries.
"Since 1996 We Have Helped Thousands of People Like You Get The Funds They Want"
A: Yes, you can sell a fixed number of your future payments -- you do not have to sell the entire contract. In fact you can even sell half of a fixed number of future payments.
This is known as a "Split Sale" and it lets you sell your payments while retaining a steady monthly income.
Q: "Which documents will I need if I decide to sell?"
A: To begin the transfer process we will need:
1) A copy of your Annuity policy.
2) A copy of the Settlement & Release Agreement that everyone signed off on when the original lawsuit was settled.
3) A copy of the Uniform Qualified Assignment which would be two or three pages long.
You can either fax, or scan and email, these documents to us. If you do not have these documents on hand we can help you get them. You do not need to send us these documents in order to get a quote. You will only need to provide them after you've decided to proceed with the sale.
Q: "Will I have to pay taxes on my settlement's lump sum?"
A: No. Under U.S. law all structured settlement payments are deemed non-taxable. And the lump sum is considered the same as the structured settlement payments.
Q: "How long will it take to close?"
A: Although the length of time it will take to process your sale will vary depending upon the State, County, how long it takes for you to send us the needed paperwork, and the time of year (the 3rd quarter is often busiest due to the holidays) we can usually close within 2 months after we receive the paperwork. Annuitants may be eligible for a cash advance of up to $2,000. in cases of emergency. Some restrictions will apply, please contact us for details.
Q: "Will I have to attend court?"
A: This varies by both State and County -- in some places it's mandatory that you attend the hearing. While in other places your attendance is optional. However you should be prepared to show up in court if needed.
Q: "Will I have to hire an attorney?"
A: No, but if you would like to have an attorney represent you in your dealings with us, which we encourage you to do, this would be your only personal expense in the transaction. We will cover all of the expenses necessary to complete the sale (legal, court, etc.).
Q: "Do you purchase other types of cash flows?"
A: Yes, we also purchase all of the following types of Cash Flows:
- Business Notes.
- Casino Prize Payments.
- Commercial Lease Payments.
- Registered Contest Winnings.
- Restricted 144 Stocks and Securities.
- State Awarded Lottery Winnings.
- Worker Compensation.
Q: "How do I get started?"
A: You can either call us at (206) 202-1894 and one of our representatives will be happy to answer any questions you may have. Or, for immediate service, use our convenient online application form and we will get back to you with a quote.
