A Better Way To Sell A Structured Settlement- Via Auction

Structured settlements were introduced in Canada and the United States in the 1970′s. They were introduced as an alternative to lump sum payments, common in insurance settlements and lottery winnings. In the decades since, they have also been accepted as legal financial instruments in England and Australia.

The aforementioned common law countries have decided to include structured settlements in their statutory tort laws. These four countries handle tort law and the settlement packages a little bit differently, but the general overall definition applies across the board. In a nutshell, a structured settlement by legal definition is a statutory agreement to pay a specified sum of money over a period of time, on a payment system.

Payment Arrangements

When someone wins a court settlement (or if they settle the case beforehand), the insurance company often gives the winner a choice of taking a specified amount of money in a lump sum, or a bit more money if the insurance company can enter into a structured settlement arrangement.

Of course, it is in the insurance companies best interest to pay the claimant in a structured settlement, because the insurance company can earn interest, during the structured payment cycle, on the full sum of money it would have paid in a lump sum.

The insurance company wins in the profit game, when they get to enter into a structured settlement.

Question by Lisa&Mario: This is in addition to ? re: “structured settlement”?

Isn’t there some kind of proof even a lawyer has to show his client or whomever, if he is making a deposit 4 them, of how much it was ?
Hypothetically, if he was supposed to deposit ,000.00 & there was only 000.00 deposited, (he’s already paid in full) where do you go from here?

4

Best answer:

Answer by Just Me
Yes, your entitled to a copy of any deposit receipts/accounts payable/receivable related to your case. In fact, your are legally entitled to a copy of your entire case file and those transactions should be part of that file.

I would be in his/her office requesting that copy at my earliest convenience.

Add your own answer in the comments!

Structured Settlements – Get your Cash Now!

Sometimes when a plaintiff settles a case for a large sum of money, the defendant, the plaintiff’s attorney, or a financial planner consulted in association with the settlement, will propose paying the settlement in installments over time rather than in a single lump sum. When a settlement is paid in this manner it is called a “structured settlement”. Often the structured settlement will be created through the purchase of one or more annuities, which guarantee the future payments.

A structured settlement can provide for payment in pretty much any schedule the parties choose. For example, the settlement may be paid in annual installments over a number of years, or it may be paid in periodic lump sums every few years.

Potential Disadvantages of Structured Settlements

Some people who enter into structured settlements feel trapped by the periodic payments. They may wish to purchase a new home, or other expensive item, yet be unable to muster the resources because they can’t borrow against future payments under their settlement.

Some people will do better by accepting a lump sum settlement, and investing it themselves. Many standard investments will give a greater long-term return than the annuities used in structured settlements.

Selling a Structured Settlement

If you have a structured settlement, you may have been approached by a company interested in

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J.G. Wentworth Completes 5 Million Securitization of Asset Backed Notes

BRYN MAWR, Pa.–(BUSINESS WIRE)–Specialty finance company J.G. Wentworth has completed a 5 million securitization of rights under structured settlement and fixed-annuity purchase contracts. J.G. Wentworth was the first issuer to securitize structured settlement payment streams in the asset-backed markets in 1997. Since then, the company has issued 21 securitizations backed by structured …

Read more on Business Wire

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Structured Settlements and Periodic Payment Judgments

“Structured Settlements and Periodic Payment Judgments” features a full discussion of “Structured Settlement Factoring Transactions,” with an analysis of Internal Revenue Code Section 5891 – Victims of Terrorism Tax Relief Act – and its effect on reinforcing and expanding structured settlements. This statute has an impact on all structured settlements past and future. It provides claimants and their attorneys with definitions, procedures, guidelines and some protection under the Internal Revenue

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