Question about obtaining money from a structured settlement annuity check thing... (obtaining earlier)

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Question about obtaining money from a structured settlement annuity check thing... (obtaining earlier)
Anonymous Coward User ID: 327969 United States 11/27/2007 12:21 AM Report Abusive Post Report Copyright Violation	Question about obtaining money from a structured settlement annuity check thing... (obtaining earlier) ive seen these ads on tv and shit about being able to obtain future money from structured settlement payments, like ahead of time, if you need to, through some legit places. like me, i have had checks coming in every 4 years, resulting from a lawsuit we won a while back because of an accident. but my last one comes in 2011. and its also the one with the most. and right now, im out of work and trying to get full-time work WITH health insurance, so im paying out of my pocket right now and in the process of moving and other things i need to keep payment on. you all know the story. anyways, im trying to see if i can obtain my money for 2011 earlier? can i just do it through my lawyer? or do i have to go thru one of these othr agencies? and whats the catch? someone was telling me they take a huge sum of that money from your structured settlement. like if you're trying to get your money of say.. $10,000, they keep $4,000 of it or something? hows this work and what else is involved? i just wanna know if anyone here has done it personally. and which might be the best route.. and IF they can do it.

Anonymous Coward User ID: 331971 United States 11/27/2007 01:15 AM Report Abusive Post Report Copyright Violation	Re: Question about obtaining money from a structured settlement annuity check thing... (obtaining earlier) I've seen the ads. I think they do pay you a lump sum up front in exchange, you sign over to them the rights to receive any(or all) future payments you would have received.. whether they can slice it so that they get the rights to one future payment, I don't know. You need legal advice. No matter if you go with one of the ad firms, I would say you need your own lawyer to protect your rights.
Anonymous Coward (OP) User ID: 327969 United States 11/27/2007 01:25 AM Report Abusive Post Report Copyright Violation	Re: Question about obtaining money from a structured settlement annuity check thing... (obtaining earlier) well, this would be for my very last payment (2011). the one this last year was the one before the last. so yeah... in that case.. i dunno what theyd do. could a regular lawyer just do it themselves?
Anonymous Coward User ID: 331971 United States 11/27/2007 01:32 AM Report Abusive Post Report Copyright Violation	Re: Question about obtaining money from a structured settlement annuity check thing... (obtaining earlier) well, this would be for my very last payment (2011). the one this last year was the one before the last. so yeah... in that case.. i dunno what theyd do. could a regular lawyer just do it themselves? Quoting: Anonymous Coward 327969 The issue it seems is finding a willing counterparty with the cash to buy the rights you are willing to sell. As far as the legal work, that is a different issue. Two issues...1) finding the counterparty who has the money and the desire to purchase the right(s)yous wish to sell to your future payment(s) and...2) the lawyer who has the experience in such matters to be able to get you what you want and to do it with legal documents that would stand up in court(if it came to that). You need to consult with a lawyer. An experienced lawyer.
Anonymous Coward (OP) User ID: 327969 United States 11/27/2007 07:17 AM Report Abusive Post Report Copyright Violation	Re: Question about obtaining money from a structured settlement annuity check thing... (obtaining earlier) bump
sleepy head User ID: 38627 United States 11/27/2007 07:31 AM Report Abusive Post Report Copyright Violation	Re: Question about obtaining money from a structured settlement annuity check thing... (obtaining earlier) if you take a lump sum now, you will get about 40 per cent of the value of your payment schedule. that is a close estimate. that is a big loss. another way to work this is to get a loan. that way you get to keep the full schedule of payments for yourself, you pay the bank a hefty pile of interest. and you get your big payoff, which is when you pay the bank.
Anonymous Coward User ID: 275504 United States 11/27/2007 07:41 AM Report Abusive Post Report Copyright Violation	Re: Question about obtaining money from a structured settlement annuity check thing... (obtaining earlier) if you take a lump sum now, you will get about 40 per cent of the value of your payment schedule. that is a close estimate. that is a big loss. another way to work this is to get a loan. that way you get to keep the full schedule of payments for yourself, you pay the bank a hefty pile of interest. and you get your big payoff, which is when you pay the bank. Quoting: sleepy head 38627 i got everything i could from mine in 200o took penalty all that everyone warned me.. my future, etc. let me tell you what they wouldn't let me take they keep losing it goes down in value if it moves at all mine isn't eligible for those cash outs six more years they dole it out as it dwindles away
Anonymous Coward (OP) User ID: 327969 United States 11/28/2007 01:11 AM Report Abusive Post Report Copyright Violation	Re: Question about obtaining money from a structured settlement annuity check thing... (obtaining earlier) bump
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