At Patriot Settlement Resources we take pride in helping people obtain a large lump sum of cash now for their future payments from a Structured Settlement, Annuity or Lottery award.
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Is it legal to sell my structured settlement?
Yes. Although there may be language in your settlement agreement which states you cannot assign or accelerate the payments, numerous court cases have supported the right of annuitants to assign the payments.
Why do annuitants sell their future payments?
There are several reasons for a person to sell their payments. Business opportunities, purchasing a home for growing family, medical emergencies, pay off high interest debt, or any financial emergency requiring additional funds that may not otherwise be available as a result of poor credit.
How much will I receive for my future payments?
The value of your future payments depends on many variables, such as the amount and due date of the payment; the risk the issuer may not make the future payment, and the current interest rates. Patriot will get you the best value available for the payments you choose to sell.
How long will it take to receive my money?
This is a court mandated process and many factors affect the time to complete the transaction. The industry standard is sixty to ninety days. While we have no control over court calendars, your cooperation in submitting documents in a timely manner will help avoid delays in funding this transaction.
Will I have to pay any expenses to complete the sale?
There are no hidden fees or charges. Your only expense will be for independent legal advice in reviewing the agreement as required by state law.
How will I be paid?
Cashiers Check or Wire Transfer. You make the election.
What are the tax consequences of selling payments?
Though we cannot offer tax advice, the Internal Revenue Service has issued a private ruling which confirmed that an individual’s sale of structured settlement payments would not create a taxable transaction. H.R. 2884 confirms this ruling.
How do we get started?
Call us toll free at 1.866.506.CASH (2274) or click on Request a Free Quote.
Why Choose Patriot? • Never ANY Expense or Legal Fees • Highest Value for Your Payments • Integrity, Honesty and Respect • Outstanding Service • Customized and Flexible Options • Confidentiality |
What is a Structured Settlement ?
Structured Settlements are an innovative method of compensating injury victims. Endorsed by the US Congress since 1982, a structured settlement is a completely voluntary agreement between the injured victim and the defendant. Under a structured settlement, an injured victim doesn't receive compensation for his or her injuries in one lump sum. They will receive a stream of tax-free payments tailored to meet future medical expenses and basic living needs. A structured settlement may be agreed to privately (for example, in a pre-trial settlement) or it may be required by a court order, which often happens in judgments involving minors and incapacitated adults. (Source: National Structured Settlement Trade Association Website, 6/1/2002)
Why do a Structured Settlement ?
A structured settlement’s most important advantage is security. The structured settlement provides long term payments that are guaranteed by a life insurance company.
Another advantage that a structured settlement provides is its tax-free position. All payments made via a structured settlement are nontaxable by federal tax guidelines (IRS Section 104(a)(2). 100% of every payment is tax exempt.
The structured settlement allows the injured party to tailor payments over his or her life. There is no need to meet periodically with an investment or tax advisor. Payments are decided during the initial settlement and then are directed to the injured victim. It gives peace of mind, security, and confidence over the long term.