A COURT ORDER MUST BE ISSUED PRIOR TO SELLING YOUR STRUCTURED SETTLEMENT OR ANNUITY.

On January 22, 2002, President, George W. Bush signed into law a bill that protects individuals when selling their structured settlement payments to meet un-planned future financial needs. This new law makes all structured settlement payment sales subject to a court order. If there is no court order, a tax that is approximately equal to 40% +/- will have to be paid on the total amount of payments being sold. This new law helps those individuals from being defrauded.

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There are a number of different programs whereby an individual can access any portion of their annuity. The selling annuity of a structured settlement process firstly requires that a court order be obtained which authorizes the sale. This is required by all states and by Federal Statute. The advantage of needing a court order prior to selling the annuity helps to protect you. The court helps to determine that you are receiving a fair amount when selling the annuity and that any remaining payments that aren't sold are protected

Structured settlement transactions must be accomplished according to strict legal guidelines. A Transfer and Assignment Agreement is executed with the seller following full disclosure of the price and other contractual terms. The sale is announced to all interested parties (payment beneficiaries, insurance companies) and then must be approved by a judge Personal injury claims used to be settled merely by exchanging a sum of money for a release of the claim. In contrast, a Structured Settlement goes beyond an immediate cash payment and provides future payments "structured" over time to meet a person's ongoing financial needs. A structured settlement may provide payments for a certain period of time or extend throughout the lifetime of the injured person.

People receive structured settlement payments as the result of legal action. If one party sues another, there might be a settlement and the defendant might agree to make payment over time (annuities-structured settlements. The defendant, in conjunction with an insurance company, purchases an annuity policy from another insurance company. The annuity policy makes payment now and in the future to the original lawsuit's plaintiff.

Please note that it takes at least 60-90 days, from initial contract to final funding, to complete the process. CAUTION… anyone claiming that it takes less time is not telling the truth!   We  will always attempt to set realistic expectations for our customers. We will not make wild  promises that cannot be kept.  We know that our customers want and need their money NOW, but the law requires that a judge approve the transfer of payment rights, and that takes time. We keep every customer updated each day, if necessary, doing whatever is possible to speed up the process., and getting you your CASH.

Questions

1.What is meant by Simultaneous Closing? The phrase "Simultaneous Closing" is used to describe transactions that occur when the seller is carrying back a note, as payment for their property, with the specific intention of selling the note for cash.  In other words, "Simultaneous Closing" just means, during an escrow closing, that there are two (2) separate closing transactions happening within minutes of each other.