Why You Should Consider Hiring a Structured Settlement Broker

If you are receiving a structured settlement, you may want to look into hiring a structured settlement broker. There are certain advantages to having a broker help you navigate through the settlement process. Brokers understand how these types of settlements work, and can help you understand all of the details this type of deal involves. They can help you create a plan which best suits you and your situation, which is something you may not be able to do on your own.

A settlement broker can help you negotiate a settlement or can help you sell your structured settlement, should you wish to do so. They are flexible in the services they provide as either a negotiator, or as acting in your proxy in order to sell your settlement. Brokers work with both sides of the settlement process, striving to get an agreement ironed out which meets your needs.

In many instances, an individual could be losing money by not using a competent settlement broker. Acting as your agent, your broker will relate your interests to the entity which will be making the payments. In most cases, a good broker will be able to get everything you request pertaining to selling your settlement.

If you are selling your structured settlement, the broker will attempt to get the most money for your settlement as possible. Some brokers will work on a percentage basis, so it is definitely in their best interest to sell your settlement for top dollar. If you have a large settlement, a broker can make a huge difference in the amount of money that you receive from whoever is purchasing it.

Most individuals receiving structured settlements are doing so because of injury or personal loss. There are also instances where lottery winners will want to sell their yearly or monthly lottery payments, instead of waiting years to get their complete winnings. In either instance, it is to your advantage to get someone who knows the intricacies of both the laws and the formalities of buying and selling settlements.

A settlement broker is a professional who specializes in getting the most money from buying or selling settlements. In almost all cases, an individual will walk away with more cash in their pockets by hiring a competent broker. Therefore, it only makes sense to have one working for you.

Structured Settlement Loan: The Downside

A structured settlement is a large amount of money awarded to an individual with a specific payout schedule. The funds are disbursed over a period of time rather than given in one large amount to help the recipient pay for living expenses and monthly bills if the award was made through litigation.

Structured pauot agreements can be generated from lottery payouts, insurance awards or inherited annuities from a relative's estate. The bottom line is that a structured settlement is a monthly income stream that continues throughout the term of the agreement.

However, as anyone knows unforeseen situations do come up that may require access to more cash than a person has in the bank. Usually a loan is taken out as mortgage on the home or unsecured debt in the form of credit cards etc. but, you can also take a loan against your structured settlement payments you receive as well. If you have access to a monthly income stream through a structured settlement, you can sell all or part of these payments to get a larger amount of money in a shorter time period.

Unfortunately, there are downsides to this type of arrangement that everyone should be aware of before pursuing this type of agreement.

1. There are many companies out there who will gladly pay you a lump sum to receive the monthly income stream. But the cost of getting your money early may be extreme. These companies will pay you a discounted rate for the purpose of making a lot of money over the life of the annuity.
2. Structured Settlements were designed to provide a way for an individual to manage their money and provide a consistent source of funds to pay bills and etc. Receiving a single amount of money can be an extreme temptation to blow the money on luxury items rather than what is was meant for.
3. Accepting a large amount of money through a settlement loan may trigger significant tax burden to the individual that received the money. This alone can be a reason to avoid a structured settlement loan.

In summary, if you are receiving a monthly income stream from a structured settlement and want to get the money faster, there are several reasons you may want to proceed carefully before signing an agreement.

Structured settlement payouts should be based not only the immediate needs, but also have enough flexibility built into the agreement for the future.

5 Usefull Tips

Here I am once more to give away some useful information, I hope that it can be helpfull to someone out there.


5 Tips For Selling Your Structured Settlement Annuity

1. Research to Find a Reputable Buyer

You need to scrutinize the private investor, who is ready to buy your structured settlement. Read more about their options and testimonials to determine what clients say about them before you choose their services. Check if they are a member of the Better Business Bureau. You need to be sure that you are getting the most value for your settlement.

2. Ask for Certification

Conversion of your annuity to a lump-sum payment with unregistered or illegitimate companies can leave you helpless and without the cash you need. If you do not understand the ramifications, you are susceptible to scams and might end up with very low cash or no cash at all! It helps to consult a legal advisor, stay alert and choose a trustworthy firm when you have decided to sell your structured annuities.

3. Know Your Rights

It helps to contact a legal advisor to determine what the law permits and what rights you are entitled to, before you sell your structured settlement annuities. To begin with, selling your structured settlement is completely a legal process and individuals have been buying and selling them for years. Most states in the U.S. allow you to sell your structured annuities in a risk-free manner. Financial advisors will help you determine what the law of your state permits and ascertain your rights too.

4. Have a Long Term Plan

Evaluate your current financial standings, determine the obligations, your plans for the future, and consider if selling all or a part of your structured settlement can help you meet your goals.

5. Seek Advice

As with any other financial transaction, it is important that you seek expert advice and several opinions before you agree to sell your annuity payments. Most companies will give you a free quote. Take a look at several offers and determine if it is worth selling you structured settlement annuities or not.

Structured Settlement Calculator

One of the easiest things that are made available on Internet is the calculation of structured settlement. Total amount to be paid, number of years to pay amount and purchasers interest rate would compile the settlement amount. Although it appears to be an easy task, there are many things that a customer has to consider before signing on the agreement paper. It is important that before making any decision, you should consider and familiarize yourself with complete details of working.

Once when an agreement is made on lump sum, you cannot change your decision and you cannot negotiate any more about the deal. Therefore, considering the advice and guidance of an attorney in this aspect is very much essential and required due to the fact that you will have a clear picture and understanding and the amount you are going to receive through structured settlement.

It is also equally important that you are satisfied with the lump sum amount you are going to receive, through structured settlement and it must meet your urgent needs of finances at the moment. One aspect that is well appreciated is that, there is nothing hidden from the view of customer or by the company but everything is open under the terms of law. The areas of calculation are fixed and if you are satisfied with the structured settlement lump sum you can go ahead otherwise you can withdraw. You can do this all by just sitting in front of computer at home and do research at internet!

Structured Settlement

A structured settlement is a kind of financial or insurance arrangement that includes periodic payments. A claimant has to accept resolving a personal injury tort claim. Otherwise he has to compromise a statutory periodic payment obligation. First settlements appeared in the United States of America and in Canada in the 1970s. They were utilized as an alternative to lump sum settlements. The synonymous to "structured settlements" are "periodic payments".

Structured laws are enacted in the United States of America at the federal and state levels both. Federal laws include sections of the Internal Revenue Code. State laws include the following: periodic payment of judgment statutes and structured settlement protection statutes. Periodic payments are affected by Medicaid and Medicare laws. Structured settlement payments may be incorporated into "Medicare Set Aside Arrangements" "Special Needs Trusts" to preserve a claimant's Medicare and Medicaid benefits.

Some of the nation's largest disability rights organizations have endorsed structured settlements. For example these are American Association of People with Disabilities and the National Organization on Disability.

Generally periodic payments are structured in the following way: the claimant (an injured party) settles a tort suit with the defendant pursuant (or its insurance carrier) to a settlement agreement according to which, the defendant or its insurer agrees to make a series of periodic payments over time in exchange for the claimant's securing the dismissal of the lawsuit. Then the defendant is being obliged for a long-term payment to the claimant. In the most common case, to fund this obligation, the insurer takes one of the following approaches: a third party is being delegated with a periodic payment obligation, otherwise the insurer have to purchase an annuity from a life insurance company (that arrangement is called a "buy and hold" case.

As were said previously, structured settlements appeared in the USA in the 1970s. For nearly a half of a century since they were set, lots of economists studied them. The economical studies grew fast and there were made efficient developments. Nowadays there are more opportunities for American citizens then in 1970s. Currently you may even sell settlements if you are in a need of money. This may provide you with a steady income. You need not to wait for years, but get your money right now. Specialists will help you to get cash for structured settlements. You can earn nice sums of money without any extra efforts. Everything will be done by the team of the specialists.

Selling periodic payments you may earn great sums of money. It is legal. More of that it is justly that you shouldn't wait for a long time and just sell your such settlements. That may give you enough money to buy a car or a house. You don't have to wait anymore if you are in a need of money.

Legally Eliminate Debt

Proven Steps to Get a Favorable Debt Settlement Deal

It is said that when the going gets tough, the tough get going. This is even true for Credit card debt. Many people have been living hand to mount and struggling to clear their Credit card debt. You too are sure to be one of them. If you keep brooding about it, you will never have a chance to become debt free. So stop worrying and fretting and look for a bold solution. Take the bull by its horns. Look to settle your debt using a settlement as debt relief.

Debt settlement is one of the finest forms of debt relief. It involves and out of court settlement with your debtors. They will agree to waive 50 percent of your net outstanding amount if they are fully convinced regarding your inability to pay. So fist things first. Stop making payments. Let the debt build up to $10,000. Only then shall you become eligible for a debt settlement. It does not matter if you do not pay your installments for a few months.

You need to convince your Creditors as to how hard it is for you to pay. When the people call you for negotiations have all your documents ready. Show them your bank statements to convince them you have no money. It is you inability to pay now and even in future which will make them settle for a lower amount. The Credit card company has to be absolutely convinced regarding your inability to pay. You can even go in for professional help to negotiate your debt. Look for a good debt settlement company to negotiate on your behalf. They will get your debt settled at almost 50 percent of the original amount. So go ahead and jump in for a debt settlement. You will come out a winner.

Take these steps one at a time to get substantial debt relief. You will never regret it.

Debt settlement is a viable alternative to filing bankruptcy. Most consumers are able to eliminate at least 60% of their unsecured debt while avoiding many of the negative consequences with filing bankruptcy. If you are over $10k in unsecured debt you will be eligible for debt settlement.

Taking out a Sttlement Loan

Keep This in Mind If You Consider Taking Out a Settlement Loan

What actually is a settlement loan and who should consider applying for one? A settlement loan, in a nutshell, is money that you borrow from a lender, with the objective of settling and consolidating your outstanding debt. The lender will basically work with your creditors and pay them off. As a result, you won't have to deal with all the monthly payments and charges for credit cards and other liabilities anymore, but instead pay back the lender by sending him one consolidated payment every month. It is not uncommon, that this consolidated payment is meaningfully lower than all the other payments you had to deal with combined.

This will leave you with more money in your pocket at the end of the month. Can people with a bad credit still qualify for a settlement loan? Yes, absolutely. There are many lenders out there who are still eager to get the business, irrespectively of your credit standing. You can apply for a settlement loan via your bank or any other financial lending company. A good starting point to inquire about reputable settlement loan lenders is the Internet. Most of them have online calculators available that let you evaluate different kind of scenarios and loan options. This can help you to get a concrete understanding on how much money you will be able to save on a monthly basis. Further to that, it will also tell you what payment options you have and how long it would take you to pay the loan back in full.

A credit settlement loan can also be a viable option if you face bankruptcy. But of course, before you jump to conclusions and sign a contract prematurely, make sure that you were provided with all the terms and conditions of the settlement loan. The biggest question mark is always the Annual Percentage Rate (APR). This rate can vary and is based on numerous factors, including market conditions, inflation rates, the state of the economy, etc. Further to that, the type of loan has a strong influence on the APR, too. There is a difference between an unsecured and a secured loan, or a mortgage.

And needless to mention, your credit score is another major contributing factor. There is one more point you need to pay special attention to: hidden fees. Make sure and if necessary, ask your lender repeatedly to disclose all the fees and charges, including penalties that may apply to your loan. Just to give you an example; some lending companies charge you with a penalty in case you pay back your loan earlier than the actual due date. A personal injury settlement loan can be also a considerable option for anyone who has to deal with medical bills, like victims of cancer, mesothelioma or other asbestos induced diseases. Both, my wife and I are cancer patients and we do struggle with our debt that was caused by keeping up with our payments for treatments. We are currently looking into options to consolidate our debt.

In sum: make sure you get all the facts together so you can make an educated decision before you sign any kind of settlement loan paperwork. Be cautious; especially if an offer sounds too good be true. And try to find and work together with an accredited and reputable lender. The last thing you need is finding yourself trapped in a situation that adds on to your financial burden, as opposed to eliminating it.

The author Tony Ulrich was diagnosed with kidney cancer in October of 2009. In his research on what his cancer could have been caused by, he came across with data that suggests a strong link to environmental toxics, such as asbestos. His articles also focus on the financial burden that comes along if a person has to deal with bills and debt caused by his health conditions.