"Every artist writes his own autobiography."Henry Ellis
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Buyers of Structured Settlements
This article provides useful, detailed information about Buyers of Structured Settlements. Structured settlements can be bought as an investment or provided as a compensatory payment to an injured party. Hence, these settlements can be used ...
What is Structured Settlement?
Because it is tailor-made for individual cases, the structure may also include some immediate payment to cover special damages. The payment is usually made through purchase of an annuity from a Life Insurance Company. Subcontractor A trade contractor such ...
Why A Structured Settlement Payment Is So Popular
Structured settlement payments are becoming popular because of the advantages they offer over other forms of payments and investment options. The payments which are available in the form of annuities are tax-free at the state and federal levels. Moreover, ...
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5 Mistakes People Make When Selling Structured Settlements
structured settlements, lottery winnings, annuities
Mistake One: Agreeing to sell to the highest bidder.
Unfortunately, some brokers or structured settlement/annuity sources will make a high offer just to get someone under contract. Then they will start making excuses and reduce the offer. Once you are under contract with a funding source, it is very difficult to back out. Even if you are able to pull out, you will have to start the whole process over again losing valuable time. Mistake Two: Believing the funding source when they say they can close very quickly.
The time to close is mostly dictated by individual state laws, both the state the insurance company has their home office and the state where the client resides. In some states, it is possible to close in about a month. In other states, it can take as long as four months. With the rest, it is somewhere in between. Don't believe it if someone says they can close in a week or two.
Mistake Three: Not determining how much you really need and thinking you must sell the entire remainder of the structured settlement or annuity.
Why sell a $200,000 settlement when you only need $30,000? If you need additional cash sometime in the future you will be able to sell more payments or lump sums at that time. By doing it this way, you will receive more cash over time than if you sell all payments at once; and it allows you options. Mistake Four: Letting emotions or being desperate control our decisions.
We have all gotten excited or felt desperate when faced with various situations. We could be excited about buying a home or starting a new career; or we could be feeling desperate because we are about to lose our home or are facing high medical expenses. Even though we are excited or desperate, we really must think through our decision. Some brokers or funding sources will try to take advantage of us and our situation. We should discuss our situation with a trusted family member, friend, attorney, pastor or whomever. We do not want to ruin tomorrow's financial options by making irrational decisions today.
Mistake Five: Not doing your due diligence on the structured settlement/annuity purchaser.
Call the attorney general in your residence state and the state where your funding source is located to see if there are any complaints about that funding source. If there are a lot of complaints against the source you are considering, take that as a red flag and move onto the next source. Your due diligence should be completed before agreeing to anything or signing any agreements.
About the author:
You could spend hours researching all of your options and still not have a clear idea of what to do... You need a professional on your side. With over a decade of experience, Louise Pointer can help you avoid the mistakes in this article as well as a few more. Click -> http://www.NationalFundingResources.com
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 Imperial Structured Settlements, LLC Announces Employee Incentive Trip to Gansevoort Hotel in South Beach (Business Wire via Yahoo! Finance)
BOCA RATON, Fla.----Imperial Structured Settlements, LLC, a leader in the advance funding of structured settlement payment rights and assignable annuities, celebrates a record-breaking month with an incentive trip to the Gansevoort South Hotel in Miami’s hot spot… South Beach!
Financial Stocks: Citi falls 12%, below $6 as financials weaken further (Market Watch)
Shares of Citigroup fell another 12% Thursday, falling below $6, as investors failed to draw confidence from a fresh investment in the company by its largest individual shareholder.
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Tens of thousands of analysts, who work in research departments that had already shrunk after the government-mandated separation of research from investment banking, are on the chopping block.
Ambac Commutes Approximately $3.5 Billion of CDO Exposure for Cash Settlement of $1 Billion (Finanzen.net)
Ambac Financial Group, Inc. (NYSE: ABK) (Ambac) today announced that it has commuted two CDO of ...
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