One would think that the structured settlement factoring industry is out to steal money out of annuitant's pockets and this is for good reason. From an outside perspective this author can see how this could happen, but please be assured that there are companies such as Settlement Quotes where annuitants can go to get a great price for their structured settlement payments.
The only press that this industry seems to generate is press involving companies like Peachtree Settlement Funding ripping clients off. In the article, " Need Cash Quickly? The industry as a whole has seen discount rates decline as private money has poured into the secondary market over the past 6 months. The best way to approach your lawyer about legal funding is to do so with a list of questions in mind. While not all 50 states heavily regulate the legal funding industry, some do.
Some states allow lawsuit loans only for specific types of civil cases, while others limit interest rates. Your lawyer can tell you all the relevant regulations. Is it common? What was their experience? Are there any lenders you should watch out for? These are all valid and pertinent questions. Your lawyer can help you parse through different loan agreements and help you spot any hidden or otherwise unreasonable fees. The Value of Your Claim Always ask your attorney how much your claim is worth.
The value of your claim will end up dictating the amount of money you can borrow, so it helps to have a ballpark estimate beforehand. Always keep in mind that any estimate is just an estimate. If your case is likely to lose, your lawyer will know and tell you that your loan may not get approval. If you find yourself in this situation, make sure you verify with your attorney that it is worth the time and effort to fight for your claim.
Ready to Apply? We offer all our clients three separate guarantees: Lowest possible rates in the industry;Approval of your loan application within 24 hours; andNever pay us a penny if you lose your case.
With this guarantee backing all our lawsuit funding, you can rest assured that you are getting the best service that the settlement funding industry has to offer. At Ally Lawsuit Loans we strive to ensure that all of our prospective clients have as much information about lawsuit loans and pre-settlement funding as possible. Time and time again, we see that our happiest clients are those that fully understand lawsuit loans before they take one out.
These clients leave happier because they did not run into any surprises in the lending process. One of the most common and important questions that we field has to do with the nature of lawsuit loans. Many people wonder, Is legal funding a loan? Why or why not? The answer to this question is yes, but with a caveat. Yes, lawsuit loans are loans, but they differ from traditional loans in one key area: collateral.
Our team put together this informative blog to help explain this answer further. How Does Legal Finance Work? There are quite a few different monikers for lawsuit loans. Legal financing, pre-settlement funding, and lawsuit funding are all acceptable ways of describing lawsuit loans and the industry surrounding them.
I contacted several companies to sell part of my annuity. I questioned each broker to see which company would give me the best return on my future payments. Peachtree, hands down, gave me the best price. They offered several thousand over their competitors. Rick was competent, honest and extremely helpful. He answered any question I posed and also offered sound advice during the process.
I felt he genuinely cared about me not only as a client but also a person. The process was quick. I'm talking weeks not months from start to finish. I've done several transactions in past years, but this, by far, was the best. Don't think once you have your money Peachtree forgets about you. Rick still calls to see how I am. During these times it is much appreciated. Hi Robbin! Thank you so much for sharing how much you enjoyed working with Rick - and congratulations on your new home!
I feel good about the process of Peachtree. The person that helped me took his time explaining everything to me and I was able to understand everything. He would talk to me. I felt really comfortable with that. I did my last transaction at the beginning of May and Chris, the person that was helping me throughout this transaction, stayed in contact with me and would tell me if I ever need to do anything else.
This was my second transaction with Peachtree, my interactions with Chris were excellent; he is informative, friendly, and is on point to handle issues when they arise.
There was a specific instance at the end where he put in the extra work when the court orders were not getting delivered. I appreciate the dedicated point of contact role he provided, it made the process smoother than it would have otherwise been in this instance. I have my doubts about the attorneys' actions vs claims, regarding the court orders, that I personally would look into before they represent my interests in the future if I were in Peachtree's position. Hi Ledley! We're happy to hear Chris was able to help you so well - and we're thrilled you enjoyed our service enough to come back a second time!
Thank you for sharing and thank you for choosing Peachtree! I had no idea where to start and no idea what needed to be done. I appreciate everyone that helped me get this done. The sale process can take months to finalize, but involves five steps:. Source: RetirementLiving. Two of those complaints were from consumers requesting to stop receiving advertisements from the company and had nothing to do with settlement buyouts.
Over customer ratings on ConsumerAffairs award Peachtree Financial an almost perfect 4. ConsumersAdvocate rates Peachtree Financial a 9. How long does it take to complete a structured settlement sale to Peachtree Financial Services? Peachtree Financial attempts to settle structured settlement buyouts 60 to 90 days after receiving a completed sales contract from the client. However, it may take longer to finalize selling your structured settlement, depending on how long you have to wait for a court date.
Do I need a lawyer to be able to sell my structured settlement to Peachtree Financial Services? Some states require you have legal counsel before selling a structured settlement.
Even if your state has no requirement, we recommend speaking to a lawyer about your plans. Do I have to appear at the court hearing to sell my structured settlement to Peachtree Financial Services? Yes, you must be at the hearing in person to tell the judge why you want to sell your structured settlement annuity.
This requirement is for your protection. Yes, you can sell a part or all of the remaining settlement regardless of having sold some of the annuity in the past. My settlement requires one person to receive payments.
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