Block 11.1 Article 2.3 Transfers of Structured Settlement Payment Rights
10136(c)(9) The Aggregate Amount Divided by the Discounted Present Value
Except to really confuse you, (9) calls the “Aggregate” amount that we talked about in article 9.4, “the net payment amount”. Possibly because at this point in all of the calculations the “amount” is “net” since the transfer company has taken the “aggregate” amount and gone forth with the calculation(s) and because of the passage of time, what was “aggregate”, has now become “net”.
Remember, that aggregate or net amount means all of the approved “expenses” and private industry percentage that “matches” the federal rate, or “discounted present value rate” that the transfer company puts on YOUR money in addition to the federal rate.
10136(c)(9) states, “ The quotient (expressed as a percentage) obtained by dividing the net payment amount by the discounted present value of the payments.”
Quotient means the result obtained by dividing that aggregate or net amount by the discounted present value. The result is represented by a percentage.
For your information, it is THAT percentage that is applied to your structured settlement total that will determine EXACTLY how much money you will receive in the end.
An independent professional adviser well versed in this industry knows all too well about these calculations. Call today for a consultation.
This is the real reason most Americans file for bankruptcy
Two-thirds of people who file for bankruptcy cite medical issues as a key contributor to their financial downfall.
While the high cost of health care has historically been a trigger for bankruptcy filings, the research shows that the implementation of the Affordable Care Act has not improved things.
What most people do not realize, according to one researcher, is that their health insurance may not be enough to protect them.
Filing for bankruptcy is often considered a worst-case scenario.
And for many Americans who do pursue that last-ditch effort to rescue their finances, it is because of one reason: health-care costs.
A new study from academic researchers found that 66.5 percent of all bankruptcies were tied to medical issues —either because of high costs for care or time out of work. An estimated 530,000 families turn to bankruptcy each year because of medical issues and bills, the research found.
Other reasons include unaffordable mortgages or foreclosure, at 45 percent; followed by spending or living beyond one’s means, 44.4 percent; providing help to friends or relatives, 28.4 percent; student loans, 25.4 percent; or divorce or separation, 24.4 percent.
While the findings are consistent with past studies on bankruptcy, the data also highlight a key new factor: whether the Affordable Care Act has reduced the burden of medical debt for people.
“Despite gains in coverage and access to care from the ACA, our findings suggest that it did not change the proportion of bankruptcies with medical causes,” an article on the study published in the American Journal of Public Health states.