[Rock-dev] [rock] #457: Am I qualified for a structured settlement?

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#457: Am I qualified for a structured settlement?
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 From multi-national corporations to working class
 [https://Www.gov.uk/search?q=families families] on Main Street, it appears
 these times just about everyone is searching for money and liquidity --
 normally in some rather unusual spots.

 Selling annuities, structured settlements, planned lottery payoffs or
 other ongoing payments a cash crunch has set in, and today for cash is now
 more popular in the last few years, more individuals are looking at their
 choices. Most financial experts urge against cashing in annuities or
 structured settlements, unless the financial dilemmas are dire. Structured
 settlements are appealing because they normally provide tax-free income
 for life.





 It's my cash, and I want it now!

 J.G. Wentworth is among the world's biggest buyers of structured-
 settlement payments and annuities and has managed more than $2 billion in
 payment transfers over the previous 15 years. Chief advertising officer
 Ken Murray says the firm has found a steady increase in customer questions
 in the previous year. Despite what is occurring in the economy, there are
 constantly people looking to market lottery winnings,
 [http://tinyurl.com/l8ocymk structured settlements] and annuities, Murray
 states. As a result of nature of the company, purchasers of
 [http://Www.Google.com/search?q=payments+ordinarily&btnI=lucky payments
 ordinarily] see clients when they truly are in some sort of financial
 plight.

 "Historically, the common denominator is individuals who desire cash, but
 there are some new rationales we're hearing more often than others as a
 result of the recession. It might be the reality they lost their
 occupation or their mortgage payments have improved," says Murray.

 Some TV commercials and ads may appear to indicate that getting an instant
 cash payout on a structured-settlement or annuity is simply a phonecall
 away. Instead, it's a court-controlled procedure that comes at the
 discretion of a judge. A phone call to an advertised 800 number is just
 first of a long process, and a regulatory framework mandates that each
 single transaction goes before a judge who should determine if the trade
 can progress.

 The payee, the structured settlement holder, calculate the payout amount
 which they're requesting and must show that they have a valid need for the
 money. The payee can't change a structured settlement into money just
 because he needs a new auto, a nice holiday or a RV to tour the country,
 while regulations for annuities and lottery winnings may vary. So that you
 can keep unscrupulous firms at bay, most state regulations also need the
 transfer of the resolution rights are in the greatest interest of the
 payee.

 Tony Mitchell, Chief Executive of Imperial Structured Settlements in Boca
 Raton, Fla., claims the lawful framework benefits the corporations and the
 payees because it creates a clear path for [http://www.dict.cc/englisch-
 deutsch/judging+transactions.html judging transactions]. Team and an agent
 will review the resolution, grounds and conditions the applicant desires
 the cash, when a structured settlement holder calls. Just then will
 Imperial progress in the process because there's no point in taking it any
 further if a judge is likely to reject the trade.

 "The courtroom-ordered process does a lot of the homework for you because
 you're bringing these issues before a judge who will look after many of
 the processes. It Is a thorough process, and individuals should be
 conscious of that," claims Mitchell.

 From the time a payee calls to some time they receive cash is generally
 more than 30-days, or even much longer, dependant on the jurisdiction.
 Only how payouts are determined can depend on countless factors, starting
 from well-being and age to the motive the customer needs the money and the
 rating of the insurer making the payments.

 David Lewis, senior vice president and general counsel with Stone Avenue
 Capital, LLC, claims few individuals sell their whole trades
 simultaneously. Payees generally sell some in their payments, only enough
 to satisfy their monetary needs, and offers from companies are detailed in
 all the information they need certainly to make an educated decision and
 disclosure statements with discount rates. Lewis says the dimension of the
 repayments, the payments they want to sell and other variables that go
 into establishing the payment sum contain in which state the payee
 resides.

 "It gets pretty complicated and unfortuitously has become more complex
 recently. The sum is a function of many variables, and these variables are
 more delicate today than they may have now been a year ago," says Lewis.

 Lewis specifically points to insurance firms who've seen their credit
 downgraded in the last year. The cost of funds and capital in addition has
 gone up, and developments through the credit markets can have big
 implications in the structured-settlement business. With the current
 banking crisis, fear has spread about the vulnerability of assets and
 money stored in specific associations. Despite the fear and terrible
 press, Lewis claims he hasn't observed many people looking to money in
 their payments in a panic that it will not be there. A judge would also
 improbable accept that anxiety as a reason behind selling payments anyway.

 "If somebody called for that purpose, we'dn't do business with them-and
 would simply tell them-not to be worried. We'd be buying that annuity
 anyway so if we believed it wasn't going to be good, we wouldn't be buying
 it to start with," says Lewis.

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