"Discover the premier choice for selling structured settlements in 2023. Unlock maximum value and exceptional service with the best company for structured settlement transactions. Secure your financial future today."
A Spotlight on Top Structured Settlement Companies
DRB Capital
In the realm of structured settlement purchasing, DRB Capital emerges as a true industry leader, having transformed the lives of countless clients through its unwavering commitment. Beyond offering competitive quotes, DRB Capital distinguishes itself with an exceptional customer service team dedicated to fulfilling your needs efficiently. Expect a swift, obligation-free quote that comes with their best price guarantee.
What sets DRB Capital apart is their personalized approach. Each client is assigned a representative who works in close collaboration to tailor solutions to individual requirements. This same familiar face guides you through the journey, providing an oasis of familiarity amidst the complexity. Remarkably, their representatives prioritize informed decisions over haste, offering comprehensive information and guidance.
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Selling Structured Settlements
Fairfield Funding
Fairfield Funding, based in Atlanta, GA, holds a strong foothold in the structured settlement arena, delivering specialized service to clients seeking to sell their structured settlements. Rating at 4, they bring financial expertise to the table.
Novation Settlement Solutions
Hailing from West Palm Beach, Florida, Novation Settlement Solutions swiftly addresses clients' needs, allowing cashing out of structured settlements with rapid decision-making. With a rating of 4, Novation also welcomes offers via phone or email inquiries.
CBC Settlement Funding
CBC Settlement Funding, headquartered in Conshohocken, PA, shines with a decade-long presence since 2009. Boasting a 4-star rating, they exhibit stellar customer service and a range of payout options.
Stone Street Capital
Stone Street Capital, nestled in Bethesda, Maryland, distinguishes itself with speed, promising quick funding post-court approval. Earning a rating of 4, they exemplify efficiency with an average one-week wait after court hearings.
RSL Funding
RSL Funding, a national heavyweight headquartered in Houston, TX, has assisted thousands with $200 million in lump sum payouts. With a 3.5-star rating, they come with a Most Cash Guarantee and enticing referral bonuses.
WePayMoreFunding
WePayMoreFunding stands firm on transparency, offering comprehensive information for a well-informed journey. With transactions wrapping up in as little as 45 to 90 days, their dedication shines through, providing reassurance for the path ahead.
In the landscape of structured settlements, these companies emerge as the guiding stars, illuminating paths to financial transformation and empowerment."
What to Think About When Choosing a Buyer for Your Structured Settlement
When deciding on a company to buy your structured settlement, keep these points in mind:
Customer Service: Opt for a company that picks up calls quickly, shows expertise, and addresses all your queries promptly.
Discount Rate: Different companies have different discount rates. Higher rates mean you'll get less money. Don't forget to consider any flat fees they might charge.
Buyout Options: Choose a buyer offering various options that match your financial needs, rather than pushing you to sell all your payments.
Reputation: Check the company's reputation. Make sure they're licensed in your state and have a valid U.S. address. Look for third-party reviews online.
Legal Assistance: Ask if the company aids in the legal process, including setting up a court hearing on your behalf for approval.
NASP Membership: The National Association of Settlement Purchasers (NASP) is a group of structured settlement buyers. Being a member shows they commit to industry standards.
To ensure the best deal, gather quotes from multiple companies before making a decision.
The Procedure of Selling a Structured Settlement
Selling your structured settlement involves the following sequence of steps:
Collect Multiple Quotes: Begin by acquiring free, no-obligation quotes from various structured settlement companies. Quick and straightforward, this step allows you to explore several options.
Accept an Offer: Identify a company with a commendable reputation and a low discount rate. If the terms align with your preferences (as well as the counsel of your attorney and financial advisor), you proceed to sign necessary documents and submit a comprehensive application.
Gain Court Approval: The structured settlement company will organize a court hearing, where a judge evaluates and approves the transaction. This assessment ensures that the sale aligns with your financial needs.
Receive Funds: Once the court grants its approval, the transaction paperwork is furnished to the insurance company responsible for your annuity payments. Following their processing, you will receive the funds from the purchasing company.
In general, the entire process spans two to three months, contingent on the swiftness of scheduling a court hearing.
Remember, you don't need to make decisions on your own. If queries arise, seek guidance from a financial planner to make informed choices.
Understanding the Discount Rate
When scrutinizing structured settlement companies, give careful thought to the discount rate. This rate signifies the return demanded by the seller on forthcoming payments to warrant immediate cash.
A lower discount rate translates to a higher cash yield for you. The purchasing firm determines the present value of your future annuity payments using the formula: PMT x ((1 – (1 / (1 + r) ^ -n)) / r). In this equation, PMT represents each forthcoming payment, r symbolizes the discount rate, and n corresponds to the remaining payment count.
Discount rates vary from 9% to 18%, occasionally surpassing this range. This factor significantly influences your final payment. Therefore, exploring multiple options is essential.
FAQ
Can structured settlement payments be sold during a divorce?
State-specific laws dictate asset distribution in divorces. Consult your attorney for guidance.
Who purchases structured settlements?
Factoring companies like JG Wentworth, DRB Capital, and CBC Settlement Funding engage in structured settlement acquisitions.
What is present value?
Present value denotes the current worth of your impending structured settlement payments, based on projected future interest rates. In simpler terms, it reveals how much someone would pay today for a sequence of future payments, considering a specified discount rate.
Will I be taxed when selling my structured settlement?
Most structured settlements, including those for personal injury, wrongful death, and medical malpractice, are generally exempt from U.S. federal income tax.
Can I rescind the sale of my structured settlement?
Following the transaction, a cooling-off period often exists during which you can reverse the sale. The duration of this window varies based on your state regulations.