Day: February 1, 2019

Block 9.6 Article 2.3 Transfers of Structured Settlement Payment RightsOriginally Posted on December 27, 2014, last updated on December 22, 2014 and reposted on February 1, 2019

Block 9.6 Article 2.3 Transfers of Structured Settlement Payment Rights

 

10136(c)(5) The Dollar Amount You Have Left, Less the Expenses

 

10136(c)(5) Tells you there is another dollar amount for you to see, but this time, it’s the total amount of your structured settlement payment rights to be transferred LESS the total amount of expenses, and the figure you get, is what (5) states that you will also see in the disclosure statement.

 

Once again, 10136(c) states:

10136(c) The transfer agreement shall be written in at least 12-point type and shall be complete and without blank spaces to be completed after the payee’s signature. The transfer agreement shall set forth clear and conspicuously, and in no less than 12-point type, all of the following:

 

10136(c)(5), (5) being the fifth subdivision out of thirteen (13) under 10136(c), states:

 

(5) The amount payable to the payee, net of all expenses, in exchange for the payments to be transferred. This amount shall be disclosed in the form prescribed in subdivision (b).

 

So far, you agree to the amount payable to you, minus all the expenses, in exchange for the payments to be transferred-so that means you are agreeing to pay for the abovementioned expenses to get the payment rights transferred.

 

But don’t worry, remember in 10136(c)(4), the judge and you get an opportunity to see the expense report and view the charges, in case you need to dispute an unreasonable expense, under unfair business practices.

 

Once again, conferring with an expert in this field can save you a lot of money, grief, and time.

http://preissuedannuityadvisor.com

j0405586

Originally posted 2014-12-27 23:26:51. Republished by Blog Post Promoter

The post Block 9.6 Article 2.3 Transfers of Structured Settlement Payment Rights<span class="entry-meta">Originally Posted on December 27, 2014, last updated on December 22, 2014 and reposted on February 1, 2019</span> appeared first on Structured Settlement Expert.

Structured Settlement Transfer is it a good idea?Originally Posted on January 16, 2015 and reposted on February 1, 2019

Structured settlement transfer is it a good idea?

 Structured settlements are future monies that have been awarded to you or a family member as the result of an accident or some other incident that caused an injury or life changing event that a court has deemed a party responsible and you are to receive monetary compensation for your loss or injury.

People receive structured settlement payments as the result of legal action. If one party sues another, there might be a settlement and the defendant might agree to make payment over time. The defendant, in conjunction with an insurance company, purchases an annuity policy from another insurance company. The annuity policy makes payment now and in the future to the original lawsuit’s plaintiff.

These payments are usually spread out over time and can be paid out in the form of lump sums, monthly payments or a combination of both.

Structured settlement transactions must be accomplished according to strict legal guidelines.  A Transfer and Assignment Agreement are executed with the seller following full disclosure of the price and other contractual terms. The sale is announced to all interested parties (payment beneficiaries, insurance companies) and then must be approved by a judge.

There are any number of companies that are willing to take your future structured settlement  payments and pay you a discounted cash value for the payments now rather than in the future.  This comes at a price so it is well advised that you do your homework and find a company with a good track record for handling these transactions and one that will provide you with the best rate possible.

You are not obligated to transfer all your remaining payments.  You have the option of transferring a portion of your future monies it is your choice.

Everyday something happens to someone which requires they need to access funds now instead of waiting. You could have an emergency that requires immediate home or auto repair, or you may want to start a new business or maybe they need money for the education of a child. Whatever the reason, a structured settlement payment stream is a personal financial asset that can be exchanged for cash today.

There are myriad legitimate reasons to have the ability to use your structured settlement transfer money now.   Having the ability to access these funds now rather than later, makes sense to a lot of people.  It gives you the ability to resolve issues that need immediate attention.  It also allows you to take advantage of the change in the housing market and possibly purchase a new home or look into starting your own business with up front capital.

So is a structured settlement transfer a good idea?  Depending on your individual situation, a structured settlement transfer could be a very good idea.  Just remember the key is doing your homework and have a set organized plan for the use of the funds.

Originally posted 2015-01-16 15:37:00. Republished by Blog Post Promoter

The post Structured Settlement Transfer is it a good idea?<span class="entry-meta">Originally Posted on January 16, 2015 and reposted on February 1, 2019</span> appeared first on Structured Settlement Expert.