What Are Structured Settlement Buyers?
What Is a Structured Settlement Company?
A structured settlement buyer such as CBC Settlement Funding is a specialized type of financial services firm called a factoring company. CBC Settlement Funding purchases structured settlement payments that an individual is receiving and often can provide a tax free lump sum of cash in return for payments.
Many companies that buy annuities began in the 1980s. Structured settlements were first created in the 1970s to help people who received monetary awards in personal injury or wrongful death lawsuits better manage their money and ensure it lasts for a lifetime.
Structured settlements became even more popular the following decade when the Section 104(a)(2) of the Internal Revenue Code and the federal Periodic Payments Settlement Act of 1982, together, ensured personal injury and wrongful death settlements were tax-free.
CBC Settlement Funding allows structured settlement payees to access a lump sum of their money in the case of an emergency or investment opportunity, rather than waiting for the funds to trickle in. CBC Settlement Funding exchanges many types of guaranteed payments for lump sum advances, including:
- Personal injury settlements
- Insurance settlements
- Annuity payments
- Lottery payouts
What Is the Buyer’s Role?
A structured settlement or annuity buyer plays a significant role in the annuity sale process. First, a buyer will provide a quote, which describes how much the company is willing to pay for your future structured settlement or annuity payments. CBC Settlement Funding offers free quotes that carry no obligation. The buyer’s representatives will contact the client with this information, and should also be able to explain the process to the client and answer any questions.
Once the client decides to move forward with the sale, the buyer’s lawyers will use the client’s application paperwork to file a claim in their state court. Selling a structured settlement is a legal process and must be approved by a judge. CBC Settlement Funding uses a seasoned legal team to make this process as easy as possible and will help you understand the court proceedings along the way. If you choose to have an attorney represent you during these proceedings, our lawyers will also happily coordinate with your attorney.
After a judge approves the sale, the buyer will pay the client the agreed amount up front in exchange for receiving their future structured settlement or annuity payments. CBC Settlement Funding uses checks or electronic transfer to complete this process. We also offer small cash advances to our clients at the beginning of this process, so they have access to some funds right away.
Finding and Evaluating Legitimate Buyers
A quick internet search will show there are a plethora of options when it comes to selling your structured settlement annuity. But sellers beware — some of these factoring companies are not as trustworthy as they appear.
The best structured settlement companies will have:
- An excellent rating with the Better Business Bureau
- Few or no complaints with your local Attorney General’s office
- Few or no complaints on Yelp and other online rating services
- Free quotes for your structured settlement or annuity
- Quotes offered in writing
- Competitive discount rates
- A reputation for excellent customer service
- No hidden fees
- Resources and staff to answer your questions and explain the sale process
- Account managers who don’t pressure you into making a quick decision
CBC Settlement Funding is proud to be a legitimate and longstanding structured settlement or annuity payment purchaser. We have been in business close to 10 years and have garnered a reputation for excellent customer service. The Better Business Bureau rates CBC Settlement Funding with an “A+.”
We understand what an important decision this is, so we always recommend our prospective clients consult with their attorney or accountant and shop around before deciding on CBC Settlement Funding.
Our customer representatives are always available at 877-386-3377 to answer your questions or get the process started by providing a free, no-obligation quotes on your structured settlement or annuity.
Choosing CBC Settlement Funding as Your Buyer
As a trusted structured settlement buyer in the secondary annuity marketplace, CBC Settlement Funding can provide you with a lump sum cash advance for all or part of your structured settlements. We offer several different options, and our customer representatives are always happy to answer your questions or provide a free quote.
Contact us today for more information on customized cash options to fit your financial needs.