|DRB Capital||DRB Capital has one of the best reputations within the industry. Thanks to the company’s passion and dedication to customer service, they’ve earned a standing for quality results and hassle-free experiences among their consumers, drawing in more sellers on a daily basis.|
DRB Capital operates out of Delray Beach, Florida. It’s one of the oldest operating structured settlement buyers. Given their lengthy experience, the company is able to provide all of its sellers, new and old, with a dedicated caseworker. This caseworker will guide a seller through the sales process and ensure they receive all the financial support they need.
This company is able to purchase structured settlements, as well as annuities. It also provides each seller with a free preliminary quote, which can be received via phone conversation. Thanks to DRB Capital’s best-price guarantee, you’ll come away from your experience knowing exactly how much financial support you can expect.
Should you choose DRB Capital, you’ll be working with one of the most experienced companies in the industry. Their exemplary customer service will help you find your footing in unfamiliar financial waters.
|Fairfield Funding||Fairfield Funding is headquartered in Atlanta, Georgia and offers a range of factoring services if you want to sell your future structured settlement or annuity payments. The company’s representatives have over 25 years of combined experience helping individuals who need their money now.|
|CBC Settlement Funding||CBC Settlement Funding is headquartered in Conshohocken, Pennsylvania. This structured settlement company purchases annuity payments from those who need a lump sum of cash. The company was founded in 2009 and has a great reputation among funding companies. In addition to purchasing your structured settlements or annuities, they also offer pre-settlement funding.|
|Oasis Legal Finance||Oasis Legal Finance was founded in 2002 and its corporate headquarters are located in Rosemont, Illinois. They offer pre-settlement funding and purchase structured settlement and annuity payments. When working with Oasis Legal Finance, you will be given a case manager who helps you through all of the steps involved in the process.|
|Novation Settlement Solutions||Novation Settlement Solutions is headquartered in West Palm Beach, Florida. This company was founded in 2000. The company offers a time frame guarantee on their purchase of structured settlement and annuity payments.|
|Client First Settlement Funding||Client First Settlement Funding was founded in 2008 and their headquarters are in Boca Raton, Florida. They provide services for both structured settlements and annuities of all types. Client First Settlement offers you a tailored approach to help you through each step.|
|SenecaOne||Seneca One was founded in 2002 and is headquartered in Bethesda, Maryland. They specialize in structured settlements, lottery winnings, and pre-settlement. They help you explore your options for meeting your long-term financial goals.|
|Liberty Settlement Funding||Liberty Settlement Funding is a newer company in the industry that was founded in 2015. Their corporate headquarters is located in Dania Beach, Florida and they handle the purchase of structured settlements, lottery payouts, and annuities.|
|Singer Asset Finance Company||Singer Asset Finance Company was founded in 1995 and they are headquartered in Boca Raton, Florida. They work with customers who have structured settlements, lottery payments, and annuities.|
|Stone Street Capital||Stone Street Capital was founded in 1989 and are based in Bethesda, Maryland. They offer fast cash if you want to sell settlements, annuities, or lottery winnings. They offer free quotes for the value of your payments, so you can decide if you want to proceed.|
When the Right Settlement Buyer Means More Money
For any number of reasons, you may be interested in selling your structured settlements. Many people who receive these settlements often sell them off because they want to invest in a major purchase, like a home or college tuition. Alternatively, you may sell your structured settlements when you find yourself in a tough financial situation. Regardless of your intentions, selling off a settlement will net you a reasonable lump-sum – which can serve you well, here and now.
With that said, you don’t want to jump into this sale without consulting a professional. You should perform research in advance, so you can be positive the company you’ve picked for buying your settlements will provide you with a strong discount rate. Combine available rates with customer service ratings, and you’ll quickly find that some buyers stand out from the crowd.
As you tackle the research process, make sure you keep your end-goal in mind. You want to come away from a structured settlement sale with a reasonable lump-sum. To do so, you need to compare the discount rates and verify if the company is safe, reputable, and dedicated to your best interests.
If they are, the lower a buyer’s discount rate, the more money you’ll receive in the end. This provides you with a greater supply to fund your needs, emergencies, or dreams.
Choosing the Right Annuity Buying Company
So, you know that choosing the right buyer can bring you a more substantial payday. But what qualities distinguish a strong company from one that won’t provide you the best service?
Keep an eye out for the following qualities during your research phrase, and you’ll come away from your exchange with more money to work with:
- Customer Service: Customer service sets “okay” companies apart from “strong” companies. During your research phase, check in with your companies of choice and see how they treat you – not to mention how they’ve treated sellers who’ve worked with them in the past. Testimonials and reviews are great resources to use at this point, as they’ll give you first-hand accounts of each company’s customer experience service.Any company that makes you feel as though you’re rushing through the selling experience is a company that wants to hide something. If you feel as though the exchange is going too quickly or that you’re being left in the dark, look for an alternative buyer – one that will treat your exchange and experience level with the proper amount of respect.
- Discount Rate Offered: As mentioned, your discount rate is among the most important factors to consider when looking for a buyer. Discount rates that are lower mean that you’ll take home a larger lump-sum.The good news? Structured settlement buyers exist within a highly competitive market. As such, so long as you’ve researched a standard discount rate, you can navigate initial negotiations with ease.You need to get as much of your settlement money as possible, which means that you’ll need to spend a reasonable amount of time consultant-shopping.
- Time Period: What does “time period” mean, in terms of structured settlement sales?“Time period” describes the amount of time it will take for your settlement exchange to pass through the court system. Your time period will conclude when you’ve received your lump-sum payment.The average amount of time that these exchanges take varies between four and six weeks. However, if the judge you’ve sought out is particularly busy, then the process may take longer. Difficult buyers may also exasperate the process, so make sure you’ve verified their credibility ahead of time. If you don’t, you may find that your potential buyer makes your life significantly more complicated.If you need your money quickly, then you may choose to work with a buyer who offers pre-settlement payments. These payments will come to you prior to the approval of your plea in court. As a result, you can attend to your financial necessities all the quicker. However, this added convenience may also come at the cost of a higher discount rate. Evaluate your needs, and choose wisely.
- Company Experience:
While the age of a company doesn’t necessarily determine its ability to serve you, you should still consult your potential buyers’ portfolios and evaluate their previous exchanges. What do these look like?A reputable company will keep testimonials or a full portfolio on display, either via their website or another interface. In this portfolio, you’ll find examples of how previous exchanges have gone, giving you a foundation to work from when negotiating your own sale.You won’t always need a previous example to establish good argument. Likewise, a company doesn’t absolutely need an extensive portfolio to provide you with an exceptional discount rate. Nonetheless, make sure that your potential buyer is able to provide you with active examples of their previous work. You can be certain, upon seeing a portfolio, that the buyer you’re working with is honest and will do their best to present you with a deal that benefits your needs.
Buyer Traits to Be Wary Of
There are positive signs seek in a buyer, but there are also red flags that indicate a buyer may not have your best interests in mind. If you notice repeated red flags appearing over the course of your initial interactions with the buyer (or even ones that appear later in the process), do what you can to disentangle yourself from the partnership, so you can return to financial safety.
The many red flags to be wary of include:
- Pushy Representatives: Your sales experience should put you in the driver’s seat. This means that you’re in charge of the pace you work at. Your buyer’s representative doesn’t get to make any decisions before you’ve approved them. If you find yourself working with a buyer who wants to wrap up your deal with little to no consultation, they may not have your best interests at heart. Ask them to take things slow, and if they don’t comply, consider finding an alternative buyer.
- Minimal Contact Information: The age of the Internet has made businesses’ information all the more accessible. This is also the case for buyers interested in purchasing your structured settlements. With that said, if you’re in the process of researching a provider, and you can’t easily find their contact information, it may not be worth your time to continue researching their operations. Any business that advertises an exceptional discount rate, but fails to give you easy ways to contact their representatives – or receive a quote – either hasn’t had the time to update their platform or isn’t looking to make life simpler for their clients.
- Consistently Delayed Phone Call Responses: It’s true – not everyone can make it to their phones on time. However, if a buyer is consistently missing your phone calls, to the point where you’re always waiting for them to call back, there might be something amiss with your relationship. A buyer who is serious about your sale should make an effort to answer your calls when they come through. If they do miss a call, they shouldn’t keep you waiting by the phone for a response. If you feel like you can’t consistently speak your buyer, consider pulling out of your initial talks and finding a buyer who’s willing to respect your time.
- A Lack of Transparency: In a similar vein, you should be wary of any buyer that doesn’t help you understand the financial process you’re exploring. Selling your structured settlements, annuities, lottery winnings, or other forms of consistent payment is a difficult process. While you may not come away from your sale process understanding everything there is to know about the way the system works, you should, at a minimum, know what kind of deal you’re agreeing to and what kind of financial benefit you should receive from the experience. Additionally, buyers need to be immediately honest about the timeline of your sales process. Failing to provide you with a quote, or constantly changing that quote, shows unprofessionalism, incompetence, or ill will. If you feel information is being withheld from you, consider working with a different buyer.
- Exceptionally High Discount Rates: There’s a sweet spot between a low discount rate and a high discount rate that lets you know you’re working with a reliable buyer. Discount rates that are too low may reflect a buyer’s dishonest intentions. However, buyers that advertise exceptionally high discount rates (and try to convince you that those rates are normal) are being far less subtle when it comes to their intentions. An exceptionally high discount rate is a sign that a company is trying to make substantial money off of your sale, not help you regain your financial stability. With that in mind, aim for a discount rate sweet spot, and don’t let impressive or underwhelming discount rates fool you.
In general, annuity and settlement buyers should go out of their way to make your experience as comfortable as possible. The steps needed to sell off your statements should be explained to you in detail, and additional information should be made available upon request. Likewise, a representative should never push you towards a decision without allowing you time to mull it over. They should not pressure you into making choices that you feel aren’t financially sound.
When it comes to choosing a settlement buyer, don’t let confusion or concern force you into an uncomfortable position. You deserve respect when trying to secure your financial future. As a result, you can seek out alternative buyers that will provide you with the sales experience that you deserve.
If you want to avoid situations that make you feel financially uncomfortable, be sure to thoroughly research the buyers you may be interested in working with. This process takes a fair amount of time, but you’ll come away well-informed and more confident in your sales decisions. The right buyer, after all, should make your sales process as easy as possible, so you both benefit from the transaction.
Why Consider Selling Your Payments?
Several unanticipated circumstances may drive you to consider selling your structured settlement payments, or any other types of payment that you receive on a consistent basis. For example, you may find yourself facing unexpected housing fixes which need your immediate attention. Alternatively, a hospital bill may arise that you can’t pay with just your savings.
On the other hand, you may want to sell off your structured settlement payments to achieve a long-held dream. For example, you intend on starting a business and require the funds to invest in equipment or a storefront. Or, perhaps you wish to return to school to broaden your job opportunities for the future; selling your structural payments would give you the financial boost necessary to push you over the edge.
In any of these situations, you need a lump-sum of money quickly. You can’t gain this through monthly payment or years of income – so trading that security for the boost you need now may be the right answer.
Other reasons for selling your payments include:
To pay off debt
Whether you’re facing student loans or a housing payment, a lump-sum of money can push the stress of debt payment far into the future. If you plan your payments right, you may even be able to use the revenue from a structured settlement sale to free yourself of debt entirely. Don’t let your life be held back by the debts you owe.
To purchase a home
While the state of the housing market is constantly in flux, there may come a time when you feel comfortable enough to consider purchasing a home for yourself. When that day comes, you might need help in making your initial down payment. In situations like these, the opportunity to take in a lump-sum of money is an appealing one. If you feel like you need help purchasing your first home, but you don’t want to take out a loan or mortgage, talk to your local consultant about selling any structured settlements you may be receiving.
To purchase a vehicle
In the same vein, you can use the lump-sum you receive to purchase a vehicle. While a car payment isn’t always as expensive as a home payment, it will still be far easier to pay off the whole of your vehicle at once, instead of submitting payments on a monthly basis.
If your finances are in a good place, but you still want to take advantage of the freedom a lump-sum provides, you can! There are no situations that prevent you from communicating with a local consultant. For example, say you want to invest a lump-sum into the stock market. If you sell off structured settlements, you can do just that. You won’t even have to compromise the money you’ve already stored in the bank.
As you can see, people choose to sell off their structured settlement payments for various reasons, based on various individual situations. So long as you’ve chosen the right buyer to work with, you can walk away from a sale able to achieve goals that were previously impossible with your financial situation.
However, be aware that you’ll need to present your claim before a judge. As such, consider your reason for the sale carefully, and consult with a representative of your ideal buyer for advice. In these situations, it’s better to over-prepare than to wing your time before a legal official.
The Pros and Cons of Selling Your Payments
There are plenty of reasons to sell your structured payments or other forms of consistent income. However, despite this, you should think long and hard about whether or not this is the right course of action for you.
The pros of selling your payments include:
- Lump-Sums When You Need Them– There’s no need to scrounge and save. When you sell off your structured settlements, you can to walk away from your sale with money in the bank in a short amount of time; a few months, in comparison to many years without the sale.
- The Removal of High-Interest Debts– If you have debts that’ve been preventing you from moving on, financially, a lump-sum via a settlement sale will remove that financial stress. This can help save your credit and broaden your financial abilities later on.
- Investment Opportunity:– You can, alternatively, use your lump-sum to bring in more money via a stock market investment, real estate investment, or other forms of investment.
That said, there are also reasons for holding off on selling your payments. It’s not the right choice for everyone. Here are cons that may apply to you:
- Financial Risk– If you’re facing a financial emergency, you may want to wait before selling off your structured settlements. It’s easier, in high-stress situations, to act rashly. Selling your settlements requires a calm mind, so you can make the best financial decision possible.
- Financial Loss– No matter who you choose to work with when selling your structured settlements, you will be losing money due to the applicable discount rate. The buyer must earn a profit as well, so you will receive less in the lump-sum than you’d receive from long, stretched out payments without the sale.
What You Should Expect From the Sales Process
While the sales process will differ a little, based on the buyer you choose, the core of it will remain the same, regardless of where you go. Let’s check out the process as it stands. With the right knowledge, you can approach your initial meetings with buyers more confidently. Sometimes, that confidence is all you need to begin a sale on the right foot.
- Step 1: Research Companies to Choose a Credible Buyer
This isn’t a small industry, and there are many companies interested in buying your structured settlements. As such, it won’t be difficult to find buyers – but it may be hard to find reputable ones, or ones that perfectly fit your situation and needs.As such, take your time researching companies, and be sure to ask yourself these questions as you evaluate them:• How long has this company been in operation?
• Are there testimonials readily available on the company’s platform?
• Does the company have a functional website?
• Does the company have any social media presence?
• Can I reach out to someone who’s worked with this company before for more information about their process?
• What is this company’s offered discount rate?With these questions answered, you can create a shortlist of eligible companies. From this list, you can dive into deeper research and determine if they’re right for you.
- Step 2: Call the Company for a Free Quote
Once you have a shortlist, revisit their website and locate a contact number. Some may also provide email or texting options, but it’s always best to communicate more directly with their representatives. This will allow you to vet additional standards before choosing them.
Once you’re in contact, ask them about their experience, company practices, previous sales, and – most importantly – get a quote.Alternatively, you can tour your potential buyer’s web page and see if they offer free quotes through an online interface. If they do, you can use this resource to develop a better understanding of the deal you may be able to work out. When you eventually call them, ask them about this quote and see if their offer differs from their online interface.
- Step 3: Accept a Quote
Based on the information you’re able to gather, decide which of your potential buyers you want to work with. You should take more than just potential income into account in these situations. Again, verify that your potential partner is trustworthy and that they’re providing you the best deal they can, given your circumstances.
- Step 4: Fill Out an Application
Once you’ve come to an agreement with a potential buyer, you can fill out a settlement sale application. Any and all structural settlement sales need to be approved before they can go through.To ensure your sale is handled properly and legally, speak with a consultant throughout this process. The company you choose should provide you with one, or, preferably, a designated case worker to guide you through the steps. After all, the paperwork will be the most important element in this process.
- Step 5: Have Your Paperwork Approved By a Judge
Once your paperwork is completed, you will submit it to an applicable judge. From there, there’s nothing you can do but wait for a judge’s approval. You’ll need to submit a comprehensive argument stating your financial need to convince a legal representative of the reasons behind your sale.Once a judge has the opportunity to look over your paperwork, they’ll call a hearing. You’ll have the chance to re-present your argument to the court. Should you communicate your need well, you’ll likely have your sale approved.
- Step 6: Wait for Your Money to Come In
After your hearing and approval, the judge in charge of your sale will send an order to the applicable insurance company. From there, it’s the responsibility of your buyer to handle the final details of the sale – mainly, paying you the agreed amount. In general, it takes between 45 and 60 days for the money to reach you after the sale.Broken down into steps like these, the process of selling your structured settlement is easier than you might expect. Take care to communicate with industry professionals, and don’t be afraid to ask questions.
How We Rate Companies
We categorize the companies represented on our platform based on a number of factors, including:
- Years in Operation: While a buyer’s experience doesn’t solely determine whether or not it will serve as a valuable ally amidst your sale, experience does lend itself to an easier financial transition. We consider years in operation when determining whether or not to represent a company, as years in operation will provide them with a more extensive work portfolio – and, thereby, more sales to assess before committing to an arrangement.
- Location: The location of a buyer doesn’t impact their credibility. Nonetheless, we take the location of a buyer into consideration when representing them on our site, because location serves as verifiable proof of a buyer’s existence. The last thing you want is to accidentally send your structural settlements to a non-existent buyer.
- Number of Employees: The company buying your structural settlements, annuity, lottery winnings, or other consistent source of income doesn’t have to be large to be successful. With that said, a business that has a fair number of employees will more readily assign individual caseworkers to your sale. With that kind of individualized attention comes a more successful exchange.
- Phone Number Readily Available: You should be able to readily find a company’s phone number when exploring its website or searching for it through Google. We consider a buyer with an easy-to-find phone number especially reliable, as the majority of initial work, when it comes to sales, is done via phone calls.
- Calls Answered: A phone call isn’t any good if it goes unanswered. Your buyer of choice should readily answer their phone, or at least be prepared to return phone calls within a reasonable amount of time.
- Spanish Attendants Available: A bilingual buyer is a well-prepared buyer. Buyers should be able to manage sales with people from different backgrounds, including those who are non-English speakers. As such, a Spanish capability will serve them well. Even if you don’t speak Spanish, it says a great deal about a buyer’s reputation if its staff is able to.
- Physical Address Verifiable: In the same way that location is a valuable asset when determining a buyer’s legitimacy, physical addresses are also important. We prefer to advocate for buyers that are able to A) readily share their addresses with sellers, and B) have their surroundings verified by several consumers who’ve been to their location.
- Up-to-Date Website: The information provided to sellers through a buyer’s website needs to be up-to-date. If it isn’t, sellers may assume that the buyer in question is no longer doing business, or simply doesn’t have the time to employ the personnel who could tend to its online platform. That, unfortunately, is a sign of an unengaged buyer – one that sellers are going to avoid.
- Professional Web Design: In this burgeoning age of e-commerce, an up-to-date website is a consumer gateway, not to mention a representative of a dedicated team. Sellers should be able to use a buyer’s website with ease, finding the information they need without digging through unnecessary pages.
- Website Speed: Not only do websites need to be up-to-date and easy-to-use, but they need to load quickly if they want to keep up with competition. That means we only recommend buyers with websites that load in a reasonable amount of time and which don’t come equipped with unnecessary ads that just slow them down.
- Ripoff Report Complaints: A Ripoff Report details whether or not the content available through a buyer’s platform is unique. If it’s been plagiarized from another platform, that will become apparent. While content is bound to repeat now and again within an industry like this one, a buyer that is unable to generate original content isn’t worth selling your structured settlements to.
- Staff Knowledge Level: Each buyer, no matter its size, needs to employ employees who have been well-trained and who can answer consumers’ burning questions. With this in mind, we recommend buyers that have knowledgeable and patient staff.
- Customer Reviews: One of the most important factors that we consider before representing a buyer is their previous customer reviews. This extensive portfolio of past experiences lets new sellers see how a buyer has treated its partners in the past. With this information in hand, new sellers will be able to develop an informed foundation, which can be taken into an initial meeting with the buyer’s representatives.
- Reviews Submitted by Former Employees: If anyone’s going to tell you the truth about the way a company operates, it’s the employees who no longer work there. Platforms like Glassdoor, Indeed, and CareerBliss help us find what past employees are saying about the buyers we represent. As a result, we’re able to share buyers who treat their employees with respect and care.
Do you still have questions about the process of selling your structured settlements? Below you’ll find some of the most commonly asked questions and their answers. Hopefully, these will help you better understand the workings behind your next potential sale.
Can You Sell Any Type of Structured Settlement?
So long as you’re able to demonstrate to a judge that you have the financial need, you will be able to legally sell off your structured settlement payments.
Can I Legally Sell My Structured Settlement?
There are a variety of structured settlement companies in operation. They will be able to take on your payments and help you find an appropriate buyer. These include:
- DRB Capital.
- Fairfield Funding.
- CBC Settlement Funding.
- Oasis Legal Finance.
- Novation Settlement Solutions.
- Client First Settlement Funding.
- Seneca One.
- Liberty Settlement Funding.
- Singer Asset Finance Company.
- Stone Street Capital.
Should I Sell My Structured Settlement?
This entirely depends on your current financial standing. Again, you’ll need to prove, in a court of law, that you have the financial need required to legalize the selling of these payments.
Your reasons can include existing financial troubles or the potential for an investment. So long as you can, via compelling argument, convince a judge that your need is a real and valid one, you can consider selling your structured settlement.
However, be sure to discuss your needs with a consultant or other professional before moving forward.
Why Is A Judge Involved?
Many individuals looking to sell their structured payments go into the process without considering the consequences. As a result, legislation has been implemented on a national and state level that’s designed to keep sellers safe, by preventing long-term negative financial consequences.
These laws state that a judge must be involved when a person looks to sell their structured payments. That judge must not only hear the argument set forth, but approve the sale. That judge will also ensure that the person you’re selling your settlements to offers you a fair deal.
Are Structured Settlements Taxable?
In most situations, you will be responsible for any applicable taxes that result from a structured settlement sale. This is why it’s especially important to work with a consultant when you’re selling.
They’ll be able to work you through the taxation process or direct you to a third-party accountant who can help you predict how much you’re going to owe.
How Long Before I Get My Money?
So long as the sale has been completed legally and properly, you’ll receive your payments within 45 to 60 days. Be sure to communicate with your buyer, so that payment arrives on time. If you have any concerns, be sure to contact your consultant professional.
What Happens If The Judge Does Not Approve?
You cannot sell your structured settlements without the approval of the judge. However, you can seek out the opinion of another judge – or re-examine your existing argument regarding the need for a sale – before trying again.
Are There Companies In Operation Similar to J.H. Wentworth?
The companies currently in operation that are similar to J.G. Wentworth include:
- DRB Capital.
- Fairfield Funding.
- CBC Settlement Funding.
However, it’s worth noting that this list is not exhaustive. During the research phase of your sale, you may readily find similarities between companies not mentioned here and J.G. Wentworth.
Selling your structural settlements can help you overcome financial difficulty. The process can also allow you to achieve a long-held dream that’s remained out of reach, solely due to your other financial responsibilities.
With that said, you should not decide to sell off your structural settlements, annuities, or lottery winnings without careful consideration. Look over the financial options you have available to you before committing to this path.
If you’ve made the decision to move forward, then prepare to spend a reasonable amount of time in the process’s research phase. You’ll absolutely need to work with an empathetic buyer if you want to see a full return on your sale. Working with the right company will take the financial burden off of your shoulders and allow you to move on with your life – quickly and without significant consequences.
In this guide, we discuss the ways you can best approach potential buyers, and how those buyers should treat you in the midst of a sale. Use the strategies outlined here to go about the sale confidently. So long as you avoid making rash decisions, you should come away financially secure and ready to move into a better future.