How to Sell Your Structured Settlements Proceeds For Fast Easy Lump Sum Cash in New Jersey without Feeling the Pinch

The emergence of the secondary market for factoring structured settlements dovetails with the needs of consumers who need to hive off their future income stream in return for a lump-sum amount. Without structured settlement funding companies, recipients who get structured settlements would suffer from an inflexible financial package that does not attune to changing circumstances and goals. Well-known structured settlement companies such as J.G. Wentworth, Fairfield Funding, Peachtree and others incepted the National Association of Settlement Purchasers (NASP) to shape the industry’s standards and best practices. Additionally, the U.S Congress and state regulators have put in place mechanisms that shield sellers of structured settlement seller.

Joe Griffins is a payee of a structured settlement underwritten by MetLife Insurance Company after a lawsuit for medical malpractice that resulted in personal injury. Like other annuitants, the gloves were off after receiving his initial payments as he found the money was barely enough to invest. His monthly installments used to be sucked up by plethora expenses, medical bills, and condo arrears. Glued to the spot, he decided to make a commercial breakthrough by splitting up annuities and monthly payments in the far-off future and get money to plunge into the US stock trade.

Sell Structured Settlement

Reasons That Impelled Griffins Had to Sell His Structured Settlement Payments

He was glad as he encountered a full-blown secondary market for structured settlements rendering the vital service to retrieve a lump-sum amount. His family was facing challenges, ranging from foreclosure, original bills and he was laid off by Amazon in a major staff retrenchment. Griffins felt compelled by circumstances to tap his intangible asset to overcome the difficulties. He spied the market and selected Peachtree as the buyer after a few phone calls; they could provide immediate access to future income stream in the form of lump sum cash.

How Were His Future Income Streams Converted into Lump-sum Cash?

Once Peachtree agreed to handle his transaction, the company buckled down to calculate the present value of the payments he intended to turn over factoring in the total amount, timeframe of future cash flows and share creamed off. Griffins and the structured settlement funding company reached a consensus, the process of obtaining court sanction commenced.

What Role Did the Court Play in the Process?

The court derives vast discretionary powers from state and federal laws in approving transactions brought by buyers of annuities. New Jersey law requires the judge to conduct the threshold inquiry into how the sale will impact Griffins’ quality of life. In finding the deal was in his best interest, the court observed the stock market had potential to improve his life as he was employed. The court’s obligation was much more than the sheer assessment of Griffin’s accounted for his dependents.

How Was He Shielded By New Jersey’s Structured Settlement Transfer Laws?

New Jersey not only requires court approval but mandates stringent standards of seller transparency, admonishments in writing proffering independent professional advice, and full disclosures. The transfer agreement must bring to light to the annual interest rates, net lump-sum award, discount rates, and total future payments apportioned to the structured settlement funding companies.

Applicants Previous Transactions With Structured Settlements

Griffins had to disclose previous structured settlement deals to help the judge make an informed choice. As a new entrant, he had no previous records and was only assigning a portion of his payments. He had a substantial amount taking into considerations the remainder and would not lurch into financial difficulties after the sale. Courts frown upon structured settlement companies who file applications with a limited probability of success. Disclosing previous deals with a structured settlement annuity guides the structured settlement buying companies when assessing the chances of succeeding in court.

Legendary Structured Settlement Funding Companies

 SenecaOne can tweak your future income stream into an immediate lump sum to fulfill prevailing financial demands, crafts a tailored transfer agreement, recommends a representative and allows you to retrieve free quotes immediately.

Olive Branch Funding will file a duly filled application form in court; serve you and interested parties relevant documentation to hurry up your factoring deal before the judge. They have a well-coordinated pool of attorneys to surmount legal hurdles along your way.

Fairfield Funding Company will be a top-dollar buyer for your structured settlement payments with an alluring price offer, reasonable and fair discount rates, offset transactional costs and adherence to the industry’s best practices.…