In a fast-paced world, financial demands can make your life more difficult if you cannot meet them on time. Being disabled exacerbates the troubles as you cannot get a job like other people or exploit opportunities. But nothing can be more disastrous than losing your eyes to the malicious acts of a ruthless defendant. A personal injury lawsuit like lottery winnings can fetch a large pool of money but not payable as a lump sum. The compensation in such cases provides a stream of income for severed victims to place them to the status they were before the negligence occurred, for instance, restoring lost employment income.
Mark was a playful child since he was a toddler, always inviting anyone who was near him to participate in his creative routines. At age 11, he lost his sight as he was riding his bike along a pavement when a neighbor splashed a harmful pesticide into his eyes after a confrontation with his son. He later became the recipient of a structured settlement that granted him a stream of income.
The settlement sliced out a proportion of the sum to cater for his medical bills while the remainder was locked in an annuity. The structured settlement outlined several periodic payments spread throughout the years in futures on an annual basis. After high school, Mark wanted to forge ahead and major in economics. However, he could not pay university tuition fees and meet a huge onslaught of expenses as a disabled student learning through a Braille system. He sought to sell to Peachtree only three of his future payments.
Sell A Structured Settlement
How Much Could He Receive For the Sale?
To know whether it sell his structured settlement payments, his lawyer informed him they would consider several factors. He factored in the aggregate of the three payments, discounted market value of that amount and applicable federal rate. The lawyer spotted Peachtree’s lucrative discount rates after requesting for a free quote; he advised him to consider selling to the company. The agent gave him the go-ahead no in a letter noting that this was one of the best arrangements he had encountered as it was 89.5% of the discounted rate.
Transferring a structured settlement falls within the jurisdiction of District Courts in most states. Mark had to appear in person in court. His attorney helped him prepare relevant documentation to support responses to questions posed by the judge. The court’s involvement protects the interest of the holder of the annuity; the judge probed him before affirming the sale. The court examined him on issues such as alternative sources of income, the genesis of the personal injury claim, the portion of the proceeds transferred, whether or not he obtained professional advice, the amount payable by the buying company and much more.
On being satisfied by his application on merit, the judge approved the sale after a thorough hearing. What’s more, Peachtree packs everything you want to sell your structured settlement under a single roof; they undertook all the paperwork for him.
How Did Peachtree Expedite the Sale of His Structured Settlement?
Ensured the compliance of relevant statute and federal laws, no tax penalties were levied
Drafted the agreement, served interested parties such as the annuity issuer
Gave proper notification to all sides
Consensually resolved all issues with the annuity issuer and other objectors before court hearings
Lodges all relevant documents and materials before the court for assessment in time
Was Selling His Structured Settlement Beneficial?
After selling three payments, Mark could easily get improved medical care and pay his college tuition in full. As a smart economics student, he diversified the lump sum payment into low-risk investment portfolios for more liquidity. Mark also paid off a small loan, pre-paid his bills and bought a full range of items for his new home. He never regrets ever converting the partial structured settlement payments for immediate cash.
Best Structured Settlement Companies
Well-known in the factoring domain, JG Wentworth has been acting as an active representative and buyer of structured settlement agreements from holders in the US. They offer you an irresistible price offer and promise to disburse funding once you sign the contract. You don’t need a broker.
Stone Street Capital
Renowned for the most favorable discounted price for all manner of annuities, Stone Street Capital can lodge your petition in court and file everything before the judge in a moment. They also have a responsive customer care.
Fairfield Funding is a cream of the crop in the structured settlement sales industry; they give free quotes, reasonable offers, and transparent transactions. Retrieve your free quote by calling their customer representatives.