Buying Structured Settlements Buying of structured settlements in the secondary market has been a booming business that has until of late been relatively a top-secret need to know topic. What are you buying? Well, you are buying a future payment stream. usually as an award of the court for some sort of personal injury settlement. Where the settlement was invested in an annuity to provide for a larger payment over time. Now you aren’t buying the payments at face value, in fact; the IRS has a calculation that is used to figure out what that future payment is valued at […]
Why the Courts Want to Know if You Have Previously Petitioned to Sell Your Structured Settlement Payments
Believe it or not, this is another safeguard in place to protect the consumer and its dependents from financial ruin. Keep in mind, it is the transfer company that is responsible for giving you, all “interested parties”, and the courts, the proper disclosure forms in the proper time frame. Also, keep in mind that the courts already have your legal history in front of them. They know if you have previously petitioned to sell your structured settlement payments.
Why Do They Need Me to Submit Additional Forms Stating So?
They want to see if the transfer company is reading the law correctly, adhering to it, and following it, to the “T”. They want to see if you and the transfer company are being honest, with full disclosure.
If you did petition the courts to sell your structured settlement payment rights before and were denied, why? They have to look at that.
Did you petition the courts to sell your structured settlement payment rights and were denied without prejudice? Did you fix the problem?
Did you petition the court and were approved? How did you spend the money? They want to look at that too, and they will ask you. If you spent the money like you said you would, good. If you went crazy drunk and crashed up your car, not so good.
Originally posted 2014-12-30 20:39:26. Republished by Blog Post Promoter
The post Why the Courts Want to Know if You Have Previously Petitioned to Sell Your Structured Settlement Payments<span class="entry-meta">Originally Posted on December 30, 2014 and reposted on January 26, 2019</span> appeared first on Structured Settlement Expert.