Structured Settlement Annuity -
Get Cash Now!
Desperate people can raise money by selling their Structured Settlement Annuity.
Instead of getting low payments over 5, 10 or 20 years, these people exchange
guaranteed income streams for cash. With this money, they can buy a house or pay
off their home, get a car, take a trip or pay bills. There are no restrictions;
the money is theirs to use as they please. All these individuals need to do is
contact a company that buys annuities, provide some information and get a quote.
Although this process is easy because people are dealing with friendly and
knowledgeable buyers, it takes weeks to complete the deal. So the sooner an
annuity holder starts, the sooner he or she gets money.
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Structured
Settlement
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What Is an Annuity?
A Structured Settlement Annuity is payments received over time,
usually from a lawsuit or large insurance settlement. These payments are
received for a certain number of years or for the life of the holder. Usually an
insurance company guarantees the payments.
Payments not Included in Annuities
Most companies do not accept certain disability or retirement
payments. Workers compensation payments, VA disability or pensions, Social
Security payments, other disabilities, other pensions and mortgages on real
estate are not part of the Structured Settlement Annuity program. Companies will
not accept annuities held by minor children either. However, holders of regular
annuities going through bankruptcy may be accepted.
Structured Settlement Protection Act
Almost all of the states have a Structured Settlement Protection Act,
which allows individuals to sell their Structured Settlement Annuity if certain
conditions are met. Sellers must understand the terms of the sale and have time
to reconsider after the documents are signed. Holders of annuities must be
advised in writing to seek professional advice. A judge reviews the sale,
proposed use of the funds, and determines if it is in the annuity holder’s best
interest to proceed. If the judge agrees, he or she issues a court order
approving the sale. Because of this court process required in 46 states, it
usually takes 6 to 8 weeks to complete the sale.
How to Sell Structured Settlement Annuity
A person wanting to sell his or her payments contacts a company
specializing in buying annuities. The seller provides information regarding
monthly payments and terms. The buyer calculates the cash value of the payments
and makes an offer. If the seller agrees to the dollar amount, the legal
department drafts documents and e-mails, faxes or sends them by over night
delivery. Once these documents are signed and returned, an appointment is made
with the appropriate judge. Since court approval is usually required to Sell
Structured Settlement Annuity, the court’s schedule determines the amount of
time required for this process. As soon as the judge files the order of sale,
the process is completed and funds delivered to the seller.
Sell Structure Annuity
 Structured Settlement Annuity holders can sell all of their payments
or just a portion. Although most people sell the whole annuity, they do not need
to. Some people want a smaller sum of money for a down payment on a home,
college tuition or medical bills and only need to raise $5,000, $10,000 or
$15,000. These people sell a portion of their income and collect the remaining
balance themselves. Almost any annuity can be sold, even if language in the
documents states otherwise. Because judges review almost all transactions, the
judge can approve the transfer making it legal.
-The Consultation is Free!
Exchanging Payments for Cash
The cash value of the Structured Settlement Annuity will be
discounted as the buyer is paying cash today for money they will not collect for
5, 10, 20 or more years. The value of the annuity depends on the monthly
payment, length of time the payments will be made and the return the buyer needs
on this investment. Smart sellers talk with more than one company before
accepting an offer. However, some companies represent many buyers and provide
several offers with one contact.
Sellers of a Structured Settlement Annuity are under no obligation to take any
offer. In fact, in most states, the sellers have time after they have signed
documents to change their minds without penalties. However, annuity holders do
not know the current cash value of their payments unless they ask a buyer.
Tax Consequences
The tax status of individuals does not change if they received a cash
payment instead of monthly payments. If the payments are currently tax-free
income, the cash settlement is tax-free also. However, if the Structured
Settlement Annuity holder is paying taxes on the payments, he or she will have
to pay taxes on the settlement.
Fortunately, the US Federal Government put Section 104 (a) (2) in the Internal
Revenue Code stating damages received for sickness or personal injury are not
income and not taxed. In 2002, Section 5891 was added to this Code protecting
the sale of these payments. Section 5891 also requires court approval.
Who Should Sell Structured Settlement Annuity
This is an important decision and must be made by each individual. A
larger amount of money gives people flexibility and freedom to make decisions
improving their lives. However, once the money is gone, there are no more
payments unless the individual sold only a portion of this income stream.
Excellent reasons to take advantage of cash now include business opportunities,
investment opportunities and changes in life among others.
Buying or starting a lucrative business provides future income while investing
in profitable enterprises returns investment. The individual may get married,
win the lottery or inherit money and property. Purchasing items to make life
easier or more pleasant now or buying rental real estate that provides monthly
cash flow are benefits many people appreciate and need.
Getting cash to make life better is easy when a person has a Structured
Settlement Annuity. The holder simply contacts buyers, negotiates a deal, gets
court approval and collects money. Usually, within 2 months, the paperwork has
been completed and money is wire transfer into the seller’s bank account. It is
that simple to improve life.
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Get Lump Sum
Cash For Your
Structured
Settlement
Annuity -
Get a FREE "No
Obligation" Quote
Today!
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