How To Cash Your Annuity and Structured Settlement

This is the AnnuityCasher.com blog, the latest updates and postings on getting cash for structured settlement annuity payments and developments in the structured settlement industry and personal injury lawsuits in general.

Learn about selling your payment right, structured settlement annuities, lottery payments and more. All you need to know - minus the hype and spam.

While the blog contains the latest postings of the site, you can as well read recent news and articles from around the country on selling structured settlements. Read structured settlement news here.

Want to comment, share your story, upload your photos related to structured settlements, selling periodic payments, personal injury lawsuits and lottery payments. Kindly do so. You can post your comments and stories here. We'd love to hear your stories, comments and experiences.

Jun 18, 2018

Two Petitions To Sell Structured Settlement Payments in California Denied in California Court's Tentative Rulings

Shasta County's Superior Court (Department 8) in California has recently denied structured settlement transfer petitions (to sell structured settlement

Continue reading "Two Petitions To Sell Structured Settlement Payments in California Denied in California Court's Tentative Rulings"

Nov 10, 2017

Insanely high charges

Just like people wanting to sell structured settlement payments, many are interested to sell pensions for a lump sum. I was just curious to see how the

Continue reading "Insanely high charges "

Nov 05, 2017

Sell Your Sturcutred Settlement Annuity Payments For a Cash Lump Sum

Get cash for your structured settlement annuity insurance payments

Continue reading "Sell Your Sturcutred Settlement Annuity Payments For a Cash Lump Sum"

Mar 01, 2016

State of MD Reforms Structured Settlement Payment Transfer Standards

A number of changes have been made to Maryland's structured settlement payment selling laws following recent reports about predatory practices by payment

Continue reading "State of MD Reforms Structured Settlement Payment Transfer Standards"

Feb 29, 2016

Great Story - But No Help; Corrupt System

So, you can't sell your pension for upfront cash - so what to do? Who to turn to? Why is it so hard to get a simple loan then? I hear your warning and

Continue reading "Great Story - But No Help; Corrupt System "

Feb 28, 2016

Virginia's Rich Structured Settlement Burn Injury Claimant Who Has Sold Millions and Is Now Broke

The Washington Post has published a shocking (or not so shocking) story on Dec. 27 about a Virginia resident who was preyed on by structured settlement

Continue reading "Virginia's Rich Structured Settlement Burn Injury Claimant Who Has Sold Millions and Is Now Broke"

Feb 25, 2016

Threatened To Be Evicted and Need Funds? Beware of Companies Offering False Claims and High Discounting Rates

One of the common needs that push structured settlement payment receivers to sell their future payments is a situation when they are threatened to be evicted from their rented houses due to failure to pay monthly rent.

Being desperate for immediate funds, these payees turn to their often-only source of finance - their proceeds from a personal injury structured settlement contract that, unfortunately for them, is locked and not "liquid." They are therefore forced to sell the future payments to have access to the funds.

In doing so, the injury victims not only are giving up a very important and sustained source of support in exchange for cash that will be used up now leaving them without the future income streams, but they are often being manipulated by factoring companies that are offering to buy out their structured settlement money at a heavy discount capitalizing at the misfortune of desperate people.

Furthermore, structured settlement payments buying parties are often misleading the settlement annuitant with false claims and promises.

In a recent case, I have been contacted by a personal injury victim receiving periodic payment streams from a structured settlement agreement. The payee was desperate for money not being able to pay her rent. So, she contacted a structured settlement buy-out company asking to sell them a number of future payments to raise much-needed immediate cash. Not only did that company prey on her signing papers to buy out her payments at a very high discount rate leaving her with a relatively ridiculous lump sum amount, but they even promised to help in her urgent situation by ordering a quick court hearing and having cash handed over to her in 30 days that were long past by when she called me and she was still without the cash despite agreeing to sell at the deep discount out of despair.

If you are in a threat to be evicted, in a desperate need to fund a medical expense, or any other situation where you feel compelled to sell payment rights from a structured settlement, remember that there's no way to receive your "cash now." A court session is necessary, and it takes time to get one. Furthermore, don't rush to sell to companies that request to buy at unreasonable discount rates; look for another reliable company willing to buy your structured settlement payments at a better rate that is fair and in your best interest.

Feb 22, 2016

Rising Awareness of Structured Settlement Payments Selling Best Pracices

One of the widely criticized loopholes in the structured settlement transfer laws - that allow annuitants of a structured settlement to sell their periodic payments to interested third parties with court approval provided that it is in the vaguely-defined "best interest" of the payee - is that many States allow the payments purchaser to file a transfer petition in any state and in the absence of the seller.

In one instance, a lawyer working with a structured settlement buy-out company is said to have filed multiple petitions in a Virginia court, all for the same purchasing company, almost all of which have been quickly approved by the same judge, being denounced by critics as blindly "rubber stamping" the transfer petition without really looking into the cases and giving them sufficient thought to approve the sales are indeed in the best interest of the payment sellers, a number of which were poor and under-educated.

Thanks to a bill that was past on January 27 in the Virginia House of Delegates, sellers of structured settlement payments would now be obligated to personally show up in court at the time of the hearing to approve the transfer.

Likewise, the hearing would need to take place in the same county where the seller is domicile.

Advocates and lawmakers have praised the new bill stating this will help regulate what they refer to an unregulated industry and increase control and protection of injury victims looking to, or being pressed to, sell their structured settlement payment at a big discount in exchange for an upfront lump sum payout.

What is clear is that there's a rising awareness across the country to strengthen oversight and regulation on the structured settlement market. It remains to be seen how the industry standards will evolve this year; what additional reforms will be introduced in the secondary markets and which States will be on the front lines or follow the examples of others States in enacting new laws to enhance best practices in the structured settlement payments selling niche.

Dec 31, 2015

Virginia Burn Injury Structured Settlement Recipient Sells Millions and Goes Broke

The Washington Post has published a shocking (or not so shocking) story on Dec. 27 about a Virginia resident who was preyed on by structured settlement factoring companies to sell large parts of his future payment installments of compensation money for a burn injury in exchange for pennies on the dollar.

The lawsuit settlement agreement to compensate for his injury and consequences grants him monthly payments of $10,000 and an aggregate sum of $31.5 million during his lifetime.

Over the course of two years, the person sold future payments owed to him up to 2044. Now the very rich man has gone broke and is homeless.

This is an outraging story of course. The payment purchases by the factoring companies were approved by courts in Virginia.

According to the reports, the man is physically and psychologically limited.

Continue reading "Virginia Burn Injury Structured Settlement Recipient Sells Millions and Goes Broke"

Dec 29, 2015

Selling Structured Settlement Payments Should Be in the Best Interest of Sellers - and Buyers

Structured settlement factoring companies are getting bad publicity these days by media, politicians, watchdogs, whistle blowers and hypocrites.

They are accused of ripping off the poor, old, disabled and mentally limited with manipulative offers and tactics to buy out their long term lawsuit payments for a lump sum amounting to pennies on the dollar.

Fact: purchasing future payment for a lumpsum of current cash isn't wrong. It isn't unethical, it isn't illegitimate.

A recipient of structured payments has the right to sell his payment rights. Structured Settlement Protection Acts in all states are here to protect sellers when exercising these rights to obtain liquid funds when in need, in exchange for selling future payments.

Selling payments has a price. You pay for liquidity, giving up parts of payments for the benefits of money now rather than in years from now.

Moreover: the money now is worth more than the money in years from now. This is the law of Time Value of Money. For this reason, When you are selling structured payments, you will get less. Obviously and rightly so.

You would not expect someone to buy periodic payments for zero profit, would you?

So, the buyer of a structured settlement will charge the seller a price that allows him to make some profits. This is only fair.

It gets problematic when the deal isn't fair to the seller.

A structured settlement payments transfer should be in the annuitant's best interest. If it is not, then the deal may be illegal. Federal and State laws clearly require the seller's (and dependents') "best interest" as a main condition for the settlement rights transfer approval.

Here are some instances where structured settlement transfers may appear questionable:

  • The same lawyer handling the transfer agreements works for the same company on numerous cases and all or almost all cases meet the "best interest" criteria without any real analysis of the seller's personal and financial status;

  • The same judge approves multiple petitions "rubber stamping" them without assuring the transactions are indeed fair and in the seller's best interest.

  • The structured settlement payments are sold at an inflated discount rate leaving the payee with a relatively very small amount.

    The lump sum will always be much lower than what the payee would get in future payments. One has to consider the principles of present value and future value and discount rate before blindly criticizing buyers. I'm referring to ethical buyers applying a reasonable discount rate.

    If it is a fair deal and in the best interest of the seller, then the transfer is legit even thought the seller gets much less than he would in payments and despite the fact that the structured settlement agreement was created for the protection of the injury victim. It is still his or her own money and he or she is entitled to do with it as they please, including selling future payments.

    And so are factoring companies entitled to purchase the structured payments in the interest of the payee's, and yes - in their own best interest.

  • Dec 29, 2015

    'Nobody Wants To End Up On the Front Page Of the Washington Post'

    And now comes Virginia's turn.... Some of the called-for reforms for more oversight over transfers of payment rights of futures structured settlement

    Continue reading "'Nobody Wants To End Up On the Front Page Of the Washington Post'"

    Dec 28, 2015

    Maryland's Structured Settlement Buy Out Reforms Aim To Protect Annuitants

    Maryland's new law reforms for selling structured settlement future payments rights is a dramatic breakthrough in the industry.

    Now, when selling settlement payments, the outside financial adviser will personally need to show up in court and describe why the transaction is in his opinion a fair deal and in the best interest of the seller and his dependents.

    This sets apart Maryland from other states, some of which require the advice of an outside expert, and some of which require the payee himself to show up at the court hearing. This will not be enough in Maryland now. The adviser too will have to testify in order to possibly attain the judge's approval.

    The adviser will also be required to report to the court about his personal past experience in handling structured settlement payment transfers.

    Reforms follow harsh reports about exploiting led paint poisoning victims in Baltimore, Maryland, by certain structured settlement buy out companies which led to an outcry by advocates and lawmakers calling for increased scrutiny and regulation.

    Some structured settlement payment buying companies have expressed worry that the law reforms will lead other states to follow suit and introduce tougher regulations that will inhibit their buying practices. Still, many agree some regulation is needed as irresponsible buyers are engaging in questionable practices, causing damage to annuitants as well as hurting the reputation of the rest of us in the secondary market.

    Buying and selling structured settlement payments should not by itself be deemed illegitimate or unethical. Structured Settlement Protection Acts in virtually all states prove the legitimacy of settlement right transfers that may be an immediate necessity to personal injury claimants in need of accessible funds.

    Selling their future periodic payments for a lump sum, even though at a discount rate that lowers substantially their amounts in comparison to the sum of the future payments, should be justified in those cases. Inflated discount rates or manipulating the poor, disabled and uneducated, should be discouraged at all times. This will only save the industry do good the those among us who are committed to best practices.

    Dec 28, 2015

    Maryland's Structured Settlement Buy Out Reforms Aim To Protect Annuitants

    Maryland's new law reforms for selling structured settlement future payments rights is a dramatic breakthrough in the industry.

    Now, when selling settlement payments, the outside financial adviser will personally need to show up in court and describe why the transaction is in his opinion a fair deal and in the best interest of the seller and his dependents.

    This sets apart Maryland from other states, some of which require the advice of an outside expert, and some of which require the payee himself to show up at the court hearing. This will not be enough in Maryland now. The adviser too will have to testify in order to possibly attain the judge's approval.

    The adviser will also be required to report to the court about his personal past experience in handling structured settlement payment transfers.

    Reforms follow harsh reports about exploiting led paint poisoning victims in Baltimore, Maryland, by certain structured settlement buy out companies which led to an outcry by advocates and lawmakers calling for increased scrutiny and regulation.

    Some structured settlement payment buying companies have expressed worry that the law reforms will lead other states to follow suit and introduce tougher regulations that will inhibit their buying practices. Still, many agree some regulation is needed as irresponsible buyers are engaging in questionable practices, causing damage to annuitants as well as hurting the reputation of the rest of us in the secondary market.

    Buying and selling structured settlement payments should not by itself be deemed illegitimate or unethical. Structured Settlement Protection Acts in virtually all states prove the legitimacy of settlement right transfers that may be an immediate necessity to personal injury claimants in need of accessible funds.

    Selling their future periodic payments for a lump sum, even though at a discount rate that lowers substantially their amounts in comparison to the sum of the future payments, should be justified in those cases. Inflated discount rates or manipulating the poor, disabled and uneducated, should be discouraged at all times. This will only save the industry do good the those among us who are committed to best practices.

    Dec 17, 2015

    Disquss Comments Will Now Allow You To Contribute On Annuity Casher Site

    Today is a very exciting day. I have just installed Disqus on the site so that commenting is now enabled on each and every page. You are cordially invited to join the crowd, air your voice, express your opinions and share your wisdom along with your precious photos at the bottom of the pages. Let us know what you think about selling structured settlement annuity payments, life settlements and periodic lottery payments.

    Sep 10, 2015

    Letter of Lawmakers to Investigate Potential Violation by Structured Settlement Purchasing Companies

    Here's a link to the letter about purchases of structured settlement paymentsthat the two senior Congress members, Slaugther and Hollen, sent On August 18 to Attorney General Lynch and requesting the Justice Department to investigate and bring scrutiny to "predatory practices" and potential violation of the law by companies who are cashing out structured settlement payments for victims of lead-poisoning, as I have recently discussed here.

    The lawmakers demand better protection, advocacy and counsel for the "most vulnerable," cognitive impaired and disabled, when approached by factoring companies to sell their structured settlements for a fraction of the value.





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