Review the Pros and Cons Should You Decide to Sell Structured Settlement Annuity Payments
Review the pros and cons before you sell structured settlement annuity payments.
A Structured Settlement is a defined set of payments issued to the victim of a lawsuit case in the form of an Annuity. These types of annuities are called Single Premium Immediate Annuities (SPIA). These annuity payments are negotiated with the Attorney that represented the Plaintiff or Victim in the lawsuit and the Attorneys for the insurance company that represented the defendant in the case. The terms structured settlement annuity payments are many times used interchangeably. Remember, a structured settlement is paid out in the form of an annuity.
Structured settlements may be comprised of annual, lump sum, monthly, quarterly and semi-annual payments. The idea behind a structured settlement is to provide for the long-term needs of the Victim. Sometimes however life happens. Sometimes things happen to the structured settlement recipient, or Annuitant, that cannot be foreseen such as loss of job, death of spouse, rough economic times etc. Many times these individuals have no real choice but to tap into their annuities and sell their future structured settlement annuity payments. Other times individuals simply want to make a large purchase such as a home but they lack the traditional means of coming up with a sufficient down payment that the bank will accept. Federal law requires that all structured settlement annuity transfers be approved by a judge unless the factoring company is willing to pay a 40% excise tax. Most structured settlement annuity transfers are heard in the same county where the Annuitant resides.
Benefits of Selling Your Structured Settlement Annuity
There can be pros and cons to selling structured settlement annuity payments. It generally boils down to your economic well-being and what you intend on doing with the lump sum payment of cash you obtain from the annuity transfer. If you have a good paying, stable job and would like to invest in a home for you and your family but lack the means of coming up with a down payment then it may be a strategy worth looking at. Right now is an excellent time to give some thought to Investing in Real Estate as the asking prices are low. Nonetheless, the housing market won’t stay like this for very long. Perhaps you are in a circumstance where you’ve found an excellent job but don’t have any transportation to get back and forth to work. In the case it makes sense to sell structured settlement annuity payments to get the money you need to buy a car to ensure stable employment. Several other valid reasons could be repaying debt, home remodeling, finishing education, starting up a business (with which you have practical knowledge), and medical needs. You should make an effort to obtain conventional funding before deciding to sell structured settlement annuity payments simply because it it will ordinarily be less expensive.
Cons of Selling Your Structured Settlement Annuity Payments
On the other hand, if your structured settlement annuity is your only source of livelihood and you don’t have any other way to sustain yourself then cashing it in wouldn’t be in your best interest. How would you be able to pay for day to day living expenses? How would you be able to constantly put food on the table for you and your family? It would not be recommended to sell structured settlement annuity payments to embark on a vacation, get started in a business for which you haven’t any previous experience, buy a new car you don’t need just because its “awesome”, fulfill gambling or drug addictions, or trade it in simply because you want a huge lump sum of cash. Remember, once you sell structured settlement annuity payments it’s gone. You won’t be able to just change your mind after the court signs an order approving the transaction. You might easily move through the lump sum of money in a short amount of time. Therefore, if you’ve got a smart plan in advance and a legitimate reason then be confident in your decision to sell structured settlement annuity payments. Make certain to get the best quote to sell structured settlement annuity payments. If you’re not sure of precisely what you’d do with a lump sum of cash then you might want to reexamine. You ought to consult with an Attorney and/or Financial Advisor previous to selling structured settlement payments to make sure that you fully have an understanding of the terms. You’ll find a number of companies that buy structured settlement annuity payments, however, quite a few charge preposterous rates.
Benefits if You Sell Structured Settlement Annuity Payments with Corona Capital
On the other hand, Corona Capital does not charge outrageous fees at all. We have a vast network of private investors willing to pay top dollar for people wanting to sell structured settlement annuity payments. Contact us today if you’d like to get an idea of how much money you could receive for your structured settlement annuity payments. Rates will generally be higher for individuals that want to sell life contingent structured settlement annuity payments as they are a bit more complex and require a life insurance policy. Please read our page titled How to Sell Structured Settlement Annuity Payments for an overview of the process or watch our video Process of Selling Structured Settlement Annuity Payments
Compare our low discount rates to that of other rates being charged. Take your time to look around and get the most money should you decide to sell structured settlement annuity payments. Please call us at+1 (888) 852-5658 if you have any questions. We’d be happy to answer them for you. Our Account Managers are kind and knowledgeable and will treat you well. If you prefer, fill out our online form to request a quote to sell structured settlement annuity payments.
Read About the Sale of Annuity, Casino, Lottery, Structured Settlement and Life Contingent Structured Settlement Payments