Transfer Your Structured Settlement to A Factoring Company to overcome Economic Hardships
It is notorious for American courts to abstain from imposing a duty to perform an affirmative action on ordinary citizens to try even the slightest rescue of a stranger. One eminent judge in England observed that the priest and the Levite in the well-known Good Samaritan story would not have incurred civil liability in English courts. The law does not make anyone another’s keeper. Coastguards, firefighters, the police and ambulance rescuers should not bear responsibility where ungrateful rescues allege negligence in the aftermath of catastrophic events. However, a legal duty of care can arise on professional rescuers and compensation given where a tort claimant brings a personal injury lawsuit hinged on harm by gross negligence.
Caroline Jacksons sued the defendant’s emergency rescuers after failing to dispatch an ambulance when their family doctor summoned one from the hospital where he worked. The hospital knew of Mr. Jackson’s aggravated cardiac failure condition and had deployed the doctor to provide home care treatment. In an epic legal tussle before a jury, Mrs. Jacksons’ attorney won the tort claim and entered a structured settlement arrangement in her favor. A structured settlement lays down a future income stream with a series of guaranteed payments like disbursing piles of cash for lottery winnings. Although a structured settlement scheme has tax-free benefits, its illiquid nature makes it worthless as collateral. Mrs. Jacksons decided to sell a part of the structured settlement cash flows.
Know Your Stake and What You’re Selling
Mrs. Jackson has a knack for figures; her structured settlement kitty entitled her to monthly installments for a lifetime and seven lump sum annuity payments. She wanted to cash up ‘front for $225,000 total payments from 16th August 2016 to 2022 as well as two annuities payable in 2026 and 2028. When she ventured out into the online structured settlement factoring industry, she found a buyer of annuities who offered her cash down of $239,000 fewer deductions and endorsed the offer.
Factoring Transactions Follow A Procedure Surrounded By Bureaucracy, and Red Tape-You Need A Seasoned Buyer
To sell her structured settlement, Mrs. Jackson had to abide by the legal process laid down in the state’s statute. Choosing top-notch structured settlement buying companies can make the process seamless as they will prepare and compile relevant paperwork, deliberate with insurance companies and file petitions in the most appropriate forum. A tried and tested factoring company known by insurers will most likely convince both the court and annuity issuer to approve your deal.
Framing Your Grounds in the Petition-Concisely Set Forth Well-Argued Reasons Prompting the Sale to Grab the Judge’s Attention
Like every other world, the first impression determines whether two strangers will get along. The same applies in court where Mrs. Jackson appeared to drum up support for the deal. No matter the expertise of her structured settlement company, her input was invaluable. The court had to make findings the sale would improve the quality of her life. Only Mrs. Jackson knew why she was selling and not the judge or factoring company. She told the judge she wanted to invest the proceeds of the sale of paying off the skyrocketing mortgage interest rates and undergo surgery. Her insurance policy did not cover dental costs.
Why Do Judges Decline Approval?
Structured settlements emerged from a policy advocated by Congress to prevent the tort claimants from dissipating compensatory money. Judges approach the transaction with circumspection as the payee purports to give up tax-free benefits in return for a lump sum lower in the present value. Most deals brought by youthful recipients below the age of 25 years fail to sail through as such beneficiaries may be prone to rash financial decisions. The discount rate and lump sum amount recovered should be just, fair and reasonable, Mrs. Jackson netted $239,000, the figure was ideal in the circumstances, hence the court approval.
Structured Settlement Purchasing Companies in the Vanguard of the Industry
JG Wentworth is an unrivaled buyer of structured settlement payments, annuities and lottery winnings in the factoring industry. They will prepare the transfer agreement, disclosures, serve annuity issuers and file a court petition in the most appropriate forum in your county of residence.
Peachtree Financial Solutions comes in handy for structured settlement annuitants seeking to be rolling in it by trading in a portion or the whole of their future income streams in a judge supervised process.
SenecaOne ensures the factoring transaction is in your best interest and acts as your representative before opposing insurance companies, gives you a whacking lump sum offer and seamless selling procedures. The company adheres to the SSPAs adopted by US states and cross-cutting consumer protection laws.