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What is a Structured Settlement Company?
A structured settlement company is either a broker that helps set up payment streams to meet legal requirements or a buyer that purchases structured settlements.
What is a Structured Settlement Buyer?
A structured settlement buyer is a company that provides cash up front to people with structured settlements in exchange for rights to future payments. These factoring companies normally buy future payments rights from structured settlements and annuity holders.
Who Buys Structured Settlements?
Many companies, including Paymaster.co, buy structured settlement payment rights. While there are fewer factoring companies in this market than two or three years ago, a majority of them are listed below.
Rates That Structured Settlement Companies Charge
Structured settlement companies are commonly known to charge somewhere between 9% to 18% percent of the value of future payments when working with someone selling settlement payment rights. This percentage is known as the discount rate. The discount rate is used to cover their operating costs, the risk from the annuity contract, and turn a profit.
Structured settlement buyers will pay you, your loved one, or your client less than the present value of the future payments. Otherwise, this secondary market would not exist. A review of Better Business Bureau complaints and feedback left on other review websites tend to show disappointment around lump sum payments that people received. This holds true for members of the National Association of Settlement Purchasers, the professional trade organization for structured settlement buyers. Compare quotes and work with a finance professional who prioritizes your financial security in order to try and get the best deal. If you want to receive the full value of your future payments then you must wait the entire period of time over which payments are scheduled.
How to Work With a Structured Settlement Buyer
- Contact a structured settlement company They will work with you to gather the necessary information about your structured settlement.
- Receive a quote After receiving the details of your structured settlement, you will receive a free quote to buy your structured settlement payment rights.
- Make a decision After considering our quote, if you decide to move forward with us, you would sign a contract and we would begin the process. Also, if you request a cash advance with your sale, you would receive it at this point.
- Attend a hearing In most states, the sale request will have to be approved by a court. It is extremely unlikely that the purchasing company that you work with will require you to pay for attorney fees out of pocket. You will need to attend the hearing and explain your decision to sell your structured settlement payments. Specifically, you need to demonstrate that you and your family can meet your financial needs if you sell your structured settlement payment rights. If you receive court approval, the approved transaction order will be forwarded to the insurance company.
- Receive your lump sum payment You will receive your payout distribution from your secondary market purchasing company.
Financial security will vary based on your financial needs. Do you expect ongoing medical bills following a workers’ compensation or personal injury claim? Your needs will differ from someone who lost a working family member and receives monthly payments from a wrongful death claim. Please consult a certified financial advisor or attorney who is experienced with annuity payments, also known as periodic payments, before making a decision.
Companies With Low Offers
Speaking with and receiving a quote from multiple companies may highlight that one or two of the offers pay much less money than the money offered by other buyers. Showing a reasonable offer to a company that proposed an unfairly low offer may lead to that lowballing entity coming close to or even beating the fair offer. What is more valuable in this case, selling payment rights to a company that was fair from the beginning or the company made an unfair offer before making a better offer?
The Best Structured Settlement Companies
- Paymaster.co Rating: 9.8 888-999-8606
- Annuity.org Rating: 9.6
- Fairfield Funding Rating: 9.3
The best structured settlement companies are those that provide the services that they promise. Meaningful company ratings do not exist because the companies that provide them are either buyers or stand to earn money from companies that buy payment rights.
We’ve compiled both a list of firms and their contact information that may be the most comprehensive list of settlement buyers on the web. We even rated some of them. Guess what? Paymaster.co is the rated at the top of the list because we are biased. Are we the best? We try to be. Is number two on our list better than number three? Maybe. They provide helpful information on their website. A lot of companies can provide a lump sum of cash. Humbly we’d love to have a chance to discuss what we can do for you.
Inclusion on this list is not an endorsement of any firm. Rating numbers or lack of ratings do not indicate anything negative. Given that every situation is unique, it will be up to you to decide which company is the best for you. There are a number of factors that you may consider. Here are a few that are probably important:
- Your Offer How do the terms the company offers you compare with terms offered by others?
- Customer Service How does the company treat you? With friendliness, patience, and understanding?
- Red Flags Do you have any reason to question or doubt the financial standing of the company?
More Structured Settlement Companies (Buyers)
6230 Wilshire Blvd,
Los Angeles, CA 90048
189 S. Orange Ave,
Orlando, FL 32801
DRB CAPITAL LLC
1625 S Congress Ave,
Delray Beach, Florida
Phone: (866) 930-6480
201 King of Prussia Road,
Radnor, PA 19087
LIIBERTY SETTLEMENT FUNDING
Phone: (855) 643-0333
1855 Griffin Road
Dania Beach, FL 33004
CBC SETTLEMENT FUNDING
181 Washington Street,
Conshohocken, PA 19428
AMERICAN EQUITY FUNDING
7005 Alma Highway
Van Buren, Arkansas 72956
ANNUITY TRANSFERS, LTD.
1800 Preston Park Blvd.
Plano, TX 75093
CLIENT FIRST SETTLEMENT FUNDING LLC
301 Yamato Rd #3200
Boca Raton, Florida 33431
Phone: (888) 594-1195
FIRST STRUCTURED SETTLEMENT
FORTUNE SETTLEMENT SOLUTIONS
6905 Northcross, Dr
Huntersville, NC 28078
Toll free: 877-919-8003
197 West Crogan Street
Lawrenceville, GA 30046
NOVATION SETTLEMENT SOLUTIONS
1641 Worthington Road,
West Palm Beach, FL 33409
1980 Post Oak Blvd, Ste 1975
Houston, TX 77056
7920 Norfolk Ave.
Bethesda, MD 20814
105 South Narcissus Avenue,
West Palm Beach, FL 33401
SETTLEMENT CAPITAL CORP.
14755 Preston Rd.,
Dallas, TX 75254
STONE STREET CAPITAL, LLC
Phone: 301 951 8900
7316 Wisconsin Avenue
Bethesda, MD 20814
575 Madison Ave
New York, NY 10022-2511
Will the Court Approval Your Structured Settlement Transaction?
Whether the court approves your structured settlement buyout depends on a number of factors, similar to any other legal outcome:
- Does your judge usually approve or deny offers to purchase settlement payment rights? Judges and people and we all have biases.
- Is that amount of cash that you sacrifice in the deal unbelievably bad?
- How significant is your need for the cash that you would receive if you are allowed to sell your payment rights?
- Does a third party submit a filing and offer in your case that is much better than what was originally offered? If so, does the judge feel stronger about abiding by the terms of the deal that you accepted or about helping ensure that you get the best possible cash offer?
Companies That Buy Lottery Winnings
Phone number: Call 1-888-999-8606
Paymaster.co buys lottery payments from people who want or need a lump sum cash payment upfront instead of regular annuity payments. Please contact our team for a no-obligation quote.
PEACHTREE FINANCIAL SOLUTIONS
1200 Morris Drive
Chesterbrook, PA 19087
201 King of Prussia Road,
Radnor, PA 19087
What is a Structured Settlement Annuity Company?
A structured settlement annuity company is an insurance company that issues payments according to settlement agreements on behalf of defendants or their insurers. These annuities must be purchased from licensed structured settlement brokers or planners.