Companies That Buy Structured Settlements
It is not always the best option for the individual receiving the payments. Finding the best structured settlement companies to buy your annuity provides a fast cash lump sum when it is most needed.
There are state and federal regulations and guidelines for all companies that buyout annuities. Although the structured settlement buyout process is regulated, there are differences between the various companies that buy structured settlements.
When comparing structured settlement funding companies, there are a few basic issues to keep in mind. Buyers of structured settlements are not all the same and choosing only highly rated companies that buy structured settlement payments is critical.
Comparing quotes from different companies that buy annuities helps you to understand the differences in the market. We Pay More Funding, is one of the most reputable companies that purchases future structured settlement payment. We are known for paying the most for your structured settlement, working closely with our customers and helping them reach their goals. We offer full transparency when buying a structured settlement, ensuring that our customers understand the process.
Who buys annuities and why?
Annuities coming from structured settlement payments, are designed to be paid out over long periods of time. We Pay More Funding, purchases future settlement payments to provide our customers with immediate cash. If you have been awarded a settlement from an insurance company after being involved in an accident or otherwise suffering an injury, it is likely that you are receiving your settlement as an annuity paid out over a long period of time. However, it is possible to access your structured settlement cash as a lump sum by selling it to a structured settlement company like We Pay More Funding. This puts your money in your pocket so you can use it as you see fit, putting you in a favorable financial position.
Who buys structured settlements?
Structured settlement companies, including We Pay More Funding, purchase structured settlements to provide consumers with a lump sum payment now rather than small payments over many years. It is possible to sell your annuity to a company who agrees to purchase structured settlements. Structured settlement buyers, like We Pay More Funding, offer clients a fair offer that, once accepted, will provide them with a lump sum payment instead of structured settlement payments over years. This can help you to afford big payments that may come up in your life, and as the money in your settlement is legally yours, you have every right to access it now.
How do structured settlements work?
When a lawsuit is awarded to a plaintiff, the defendant may request to pay out the award in an annuity or structured settlement. Once this is agreed upon, a judge must review the structured settlement arrangement. The judicial review provides an additional layer of protection for the plaintiff. A structured settlement is usually awarded to a person as the result of a legal case. The defendant, typically an insurance company, may offer to pay out a settlement instead of taking a case to trial. They may request to pay the settlement out as an annuity, which means that, instead of paying you the entire award upfront, they structure the payment over years. While this can provide you with a steady stream of income, it may be more favorable for you to access the entire amount when you want to.
How Do I Choose the Best Structured Settlement Buyer?
There are a few structured settlement companies out there who are willing to purchase your annuity, so how do you choose the right one? It is crucial that you review their previous customers online reviews to help determine the following questions:
- Do they provide helpful customer support?
- Do they have financial stability?
- Will they provide me with a competitive offer?
- Are they licensed?
- Do they have a clear timeline on how quickly the process will move?
- Do they offer transparent rates?
Once you have the answers, weigh the pros and cons of each company to make the right decision.
What are Questions to Ask to Identify the Structured Settlement Company’s Expertise?
The best structured settlement companies will be open and honest about their processes, so you should be sure to ask as many questions as you need in order to assess their expertise. Ask questions regarding the experience of the company in the field, whether the company is certified and licensed, and if they levy any extra charges. You may also wish to ask how lengthy the selling process is, and what the expiry date for the free quote is. The answers to these questions will ensure you are fully-informed before making this big decision.
Who Will Buy My Structured Settlements?
There are a few buyers of structured settlements around the country. These companies offer you a lump sum payment for the settlement, allowing you to access cash instantly rather than being paid out over the term of the settlement. It is important to choose a company you trust and who works hard for you to ensure you receive the most favorable rates. At We Pay More Funding, we buy structured settlements in order to provide you with the money you need to pay for things like medical expenses, your child’s college tuition, or put a deposit down on a new home.
How Do Structured Settlement Purchasing Companies Work?
Companies that buy structured settlements take a lot of factors into consideration when making an offer. First, they will assess the value of the structured settlement, taking into account the current market rates, and will consider the rating of the insurance company paying the settlement. If there are fees or extra costs of the insurance company, these can impact the payout for your settlement. If you are thinking, “I want to sell my structured settlement,” be aware that every case is unique and highly situation-dependent.
How Do I Know if the Quote is Fair?
One of the factors structured settlement companies use when buying a structured settlement is the discount rate. This means the company will buy your settlement at a discount, with the benefit of providing you with a lump sum payment. Your quote will include a discount rate, which can often be negotiated and is based on current market rates for settlements. It is important that you compare offers between structured settlement companies before making a decision so you are receiving the most favorable rates.
Do You Have to Pay Taxes on a Structured Settlement?
Any big payment has the potential to cost you in terms of taxes. Fortunately, structured settlements paid to you as the result of an injury are tax-free. However, what you do with the money can lead to tax liabilities if not managed properly, so it is important to work with a professional.
For example, you may have been injured in a car accident and received a structured settlement. You find a company to buy your structured settlement and decide to invest the payment. You may then have a tax liability on any earnings you earn.
Can a Minor’s Settlement Payments Be Sold?
The settlement payments of a minor can be sold, but it can be much more challenging to have the sale approved. Judges tend to consider these sales more stringently than those for adults, and often, a guardian ad litem is appointed to protect the interests of the child and ensure the payout is used properly.
Typically, the sale of a settlement can be approved for things such as medical expenses. However, selling a structured settlement for a family vacation or new car will most likely not be approved.
Can I Sell Part of My Structured Settlement to Structured Settlement Companies?
You have freedom over how much of your structured settlement you want to sell so you can benefit from the upfront payment of a lump sum with the stability of regular structured payments for the rest of the settlement term. When you find a company to buy your structured settlement, you can set the amount.
For instance, you may wish to sell half and keep the other half structured. Simply negotiate with the team at We Pay More Funding to determine the right course of action for your situation.
How Long Does Getting a Settlement Check After Signing the Release Take?
The time it takes to get your settlement varies depending on your situation. At We Pay More Funding, we work as hard as we can to put the interests of our clients first, ensuring you receive your money as soon as possible. Our process typically takes just a few days after the release is signed and the judge has approved the sale, and we can pay you by whatever method you prefer.
How Long Will It Take to Receive a Structured Settlement Quote?
Being awarded a structured settlement puts you in a prime financial situation, but having access to your money now can offer a huge benefit to your life. At We Pay More Funding, we know how important this sale is to you, so we work hard to provide you with a quote quickly. Our comprehensive, no-obligation quote can be provided on your first phone call to us, and once you decide to move forward, we can help you with all paperwork and help you through the approval process so you can access more of your money sooner rather than later.
Are There Any Additional Fees that will Get Tacked onto the Structured Settlement Buyout?
At We Pay More Funding, we are committed to providing our clients with the highest standards of customer service. Part of this commitment is being transparent about all aspects of your structured settlement sale. We do not have any hidden fees associated with our services, and handle all costs involved with the transaction from start to finish. We know that choosing us to buy your structured settlement is a big decision, and we are with you every step of the way for your peace of mind.
How Does We Pay More Funding Buy Your Structured Settlements?
We Pay More Funding can help you sell your structured settlements the easy way. We have a large network of funding partners and offer honest, transparent service with low rates. To find out more about our services or to get started on selling your structured settlement, call us today at (877) 431-0704.
