|
Many individuals who have settled an insurance claim are
receiving periodic payments in the form of a Structured
Settlement. In many cases, Structured Settlement recipients or
"Claimants" cannot afford to wait out the terms of their
settlement and have a need for cash now.
Some reasons for needing cash immediately include:
- Debt elimination
- A down payment on a new house
- A college education
- A medical emergency
- Starting a new business
1st Choice Cash Flow can help providing advanced funding
through our Structured Settlement Program.
How Structured Settlements work
We match your situation with a specialized funding source who
will purchase a claimant's next payment or payments. For that
service the funding source will pay a percentage of the payment
due. How big a percentage depends on how much time will elapse
before the funding source is able to get the monies back. The
funding source will provide the claimant with the agreed upon
money in advance so they have their money when they need it and
then they wait to receive the payments according to the original
schedule.
Depending upon the exact situation, the entire process from the
time a claimant applies until the money is in their hand (their
bank account actually), can take less than 21 days.
*Structured Settlements are funded by annuities.
These single premium annuities are purchased to provide a
pre-determined payment stream to the payee. These annuities have
similarities to investment annuities; they are backed by an
insurance company and provide for a long-term payment stream.
However, these annuities differ in other aspects: they are not
owned by the payee, they are tax free and they can be sold only
with judicial approval or a hefty excise tax. Many times, an
income stream recipient may be unaware of whether the asset they
hold is an investment annuity or a structured settlement annuity.
Please call so that we may be of assistance.
|
