Top Companies That Buy Structured Settlements and Their Role In Selling Process

Top Companies That Buy Structured Settlements and Their Role In Selling Process

Structured Settlement Purchasing Companies:

Structured settlements were first created in the 1970s to help people receiving personal injury settlements and wrongful death lawsuits better manage their money to secure a long-term financial cushion. Structured settlements increased in popularity the following decade when Section 104(a)(2) of the Internal Revenue Code and the federal Periodic Payments Settlement Act of 1982 were released. Together, they ensured personal injury and wrongful death settlements were tax-free.

Many people start the selling process by looking for a company to buy their structured settlement from them. Here we look at what a structured settlement purchasing company actually is, what its role is in selling settlement payments, and how to find the one that’s best for you.

 

Emergence of Structured Settlement Purchasing Companies:

With an increase in the number of structured settlements, more and more people had special circumstances.

Life happened and individuals scheduled to receive payments were unable to borrow against the settlement income when emergencies came up. In some cases people couldn’t wait for their money to arrive and wanted a way to access the money they knew would come to them eventually.

Enter the secondary annuity market and structured settlement buyers. A secondary market was created when structured settlement buying companies emerged as a solution to that particular group of settlement owner’s problems.

Settlement buyers offer settlement owners immediate cash in exchange for selling future payments the owner is slated to receive. When a secondary market transaction occurs, instead of getting the future payments, the buyer is the recipient of the payments and the former owner gets a lump sum from the buyer.

Settlement buyers offer settlement owners immediate cash in exchange for selling future payments the owner is slated to receive.

The Structured Settlement Purchaser’s Role :

A structured settlement or annuity buyer plays a significant role in the annuity sale process. First, a buyer will provide a quote of how much they are willing to pay for future structured settlement or annuity payments. CBC Settlement Funding offers free, no-obligation quotes. The buyer’s representatives will contact the client with this information, and should also be able to explain the buying process and answer any questions.

Selling a structured settlement is a legal process a judge must approve. If the client chooses to move forward with the sale, their application paperwork will be used to file a claim in their state court. CBC Settlement Funding uses a seasoned legal team to make this process as easy as possible, explaining the court proceedings along the way. If you choose to have an attorney represent you during these proceedings, our lawyers will also happily coordinate with your attorney.

After a judge approves the sale, the buyer will pay the client the agreed amount up front in exchange for receiving their future structured settlement payments. CBC Settlement Funding uses checks or electronic transfer to complete this process. We also offer small cash advances to our clients at the beginning of this process for immediate access to funds.

 

Structured Settlement Purchasing Companies:

A structured settlement or annuity buyer plays a significant role in the annuity sale process. First, a buyer will provide a quote of how much they are willing to pay for future structured settlement or annuity payments. CBC Settlement Funding offers free, no-obligation quotes. The buyer’s representatives will contact the client with this information, and should also be able to explain the buying process and answer any questions.

Selling a structured settlement is a legal process a judge must approve. If the client chooses to move forward with the sale, their application paperwork will be used to file a claim in their state court. CBC Settlement Funding uses a seasoned legal team to make this process as easy as possible, explaining the court proceedings along the way. If you choose to have an attorney represent you during these proceedings, our lawyers will also happily coordinate with your attorney.

After a judge approves the sale, the buyer will pay the client the agreed amount up front in exchange for receiving their future structured settlement payments. CBC Settlement Funding uses checks or electronic transfer to complete this process. We also offer small cash advances to our clients at the beginning of this process for immediate access to funds.

 

A Purchasing Company’s Role in the Selling Process:

The process of selling settlement payments is different from the buying company versus the original settlement owner.

 

From the company’s perspective:

  • Getting contacted from a client: The process starts by someone who wants to sell reaching out to the settlement buying company.
  • Calculating the offer: The specialist at the company looks at the discount rate that would be applied in the particular sale.
  • Explaining the quote to the client: The specialist explains the amount of money that can be given to the settlement owner for the future payments.
  • Issuing the contract: Once the client agrees, the settlement purchasing company sends the contract out to the client,
  • Waiting on court approval: The company waits for a judge to sign off on the sale.
  • Sending money to client: After the judge approves the sale described in the contract, the purchasing company mails or wires the money to the client.

 

From the client’s perspective:

Deciding if selling works for you: A settlement owner examines their financial situation to determine if selling is in their best interest.

Researching a company: The owner looks around for a structured settlement purchasing company to work with.

Examining your quote: The selected company issues a quote to sell payments that the owner can either accept or reject.

Fill out the paperwork: The owner fills out the paperwork, which typically includes the original settlement agreement and the agreement from the issuing insurance agency.

Going to Court: The owner presents the contract to a judge who decides if the sale can go through.

Receiving your money: Once approved, the now-settlement-seller gets the money in a matter of days.

 

Finding The Best Structured Settlement Company??

Here Are The Top Companies That Purchase Structure Settlements 2018:

A quick internet search will show there are a plethora of options when it comes to selling your structured settlement annuity. But sellers beware — some of these factoring companies are not as trustworthy as they appear.

The best structured settlement companies will have:

  • An excellent rating with the Better Business Bureau
  • Few or no complaints with your local Attorney General’s office
  • Few or no complaints on Yelp and other online rating services
  • Free quotes for your structured settlement or annuity
  • Quotes offered in writing
  • Competitive discount rates
  • A reputation for excellent customer service
  • No hidden fees
  • Resources and staff to answer your questions and explain the sale process
  • Account managers who don’t pressure you into making a quick decision

CBC Settlement Funding is proud to be a legitimate and longstanding structured settlement payment purchaser. We have been in business close to 10 years and have garnered a reputation for excellent customer service. The Better Business Bureau rates CBC Settlement Funding with an A+.

We understand what an important decision this is, so we always recommend our prospective clients to consult with their attorney or financial advisor prior to deciding on CBC Settlement Funding. If you or your attorney have any additional questions, our customer representatives are always available to you.

  • Provides numerous examples of structured settlement valuations
  • Website includes text of structured settlement sales laws from all 50 states
  • Free quotes
  • “No spam” pledge to those seeking quotes
  • Calls encouraged from people with quotes from other companies
  • Purchases structured settlements, annuities, lottery winnings
  • Free instant quote
  • Over $2.6 billion in structured settlements purchased
  • Contactable by phone, email or chat
  • Advances on lump sums available
3.
  • Great educational resources
  • Structured settlement purchase calculator
  • Partnered with CBC Settlement Funding, LLC
  • Free estimate
  • Learn everything about annuities and structured settlements
4.
  • 100% best deal guarantee
  • Interest-free cash advance within 5 days
  • Great customer feedback
  • Fastest possible closing guarantee
  • A+ BBB-accredited
5.
  • Free quotes
  • Purchases structured settlements, annuities, lottery winnings
  • Member of National Association of Settlement Purchasers
  • Online resources for money management
6.
  • Primarily provides pre-settlement legal funding
  • Purchases partial or whole strucutred settlements
  • Get a lump sum in as little as 45 days
  • Regional offices in California and other states
7.
  • Has purchased more than $1.2 billion in annuities
  • Buys all or part of your structured settlement
  • Purchaes other annuities, such as lottery winnings
  • Get your money in 60-90 days
  • Call for an instant quote
8.
  • Buys partial and whole structured settlements and other annuities
  • Customer-friendly resources on the website
  • Rated A+ by the BBB
  • Sound reputation and emphasis on ethics



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