Explanation

A structured settlement is a negotiated arrangement resulting from a lawsuit, settlement of a lawsuit, or lottery winnings. The most common types of lawsuit settlements or judgements that result in a structured settlement involve personal injury, products liability, personal injury and medical/dental malpractice. In a structured settlement, instead of receiving a lump sum to resolve the lawsuit or lottery payout, the consumer receives part or all of the resolution amount in the form of periodic payments on an agreed upon schedule. Structuring a resolution as a structured settlement has income tax advantages and helps preserve and make the proceeds last longer.  

Unless the recipient of future structured settlement payments sells or transfers some or all the future payments to a third party, the recipient cannot get access to any future payments. The payments are paid out through an annuity and the annuity is owned and controlled by an independent company who is obligated to make the payments pursuant to the agreed upon schedule. 

If a consumer who has the right to receive future structured settlement payments wants to sell some or all of their payments, they must get permission from a State Court to do so.  Courts will generally not approve any sale unless the consumer has a compelling reason and the Court believes the sale is in the consumer’s best interest.  
 

SELLING STRUCTURED SETTLEMENT PAYMENTS

Regardless of what a court may think, it is generally not a good idea to sell structured settlement payments. The consumer will have to give up a significant amount to the purchaser above the net present value of the payments they are seeking to sell.  

There is a highly competitive industry that has developed that seeks to buy structured settlement payments. The companies in this industry aggressively try to find consumers who will sell them some or all of their structured settlement payments. While there are ethical and caring companies, some of these companies focus only on their interests and will do whatever they can to maximize the amount of their profit even if it is not in the best of the seller. For this reason, it usually advisable to get more than one quote.  

If you are considering selling some of or all your structured settlement payments, RBI can recommend ethical companies who possibly may be interested in buying such payments. Each company RBI recommends has been carefully screened and has a proven track record. Should you wish to be referred to a company who may be interested in purchasing structured settlement payments, complete the referral form on this website. This is a free referral and even if referred, you are under no obligation to sell your payments to such company.

INDEPENDENT PROFESSIONAL ADVISORS FOR STRUCTURED SETTLEMENT TRANSACTIONS

More importantly, if you are considering selling all or any portion of your structured settlement payments, it is also advisable to retain the services of an Independent Professional Advisor to review your situation.  An Independent Professional Advisor is typically a lawyer, accountant, or someone with a financial background who has experience in these matters. State statutes all suggest that consumers should work with an Independent Professional Advisor. Depending upon the State, the fees may be set by statute and the party buying the payments may be responsible for the costs.  Purchasing companies may tell you not to retain an Independent Professional Advisor and that it is not necessary. The prudent seller should reject that advice in most cases and have someone independently evaluate the fairness of a proposed sale.  

Finding qualified Independent Professional Advisors is not a simple task. There are very few people who are knowledgeable enough to properly advise you.  RBI Limited Liability Company can refer you to a carefully screened Independent Professional Advisor. Should you wish to be referred to an Independent Professional Advisor who may be interested in helping you, complete the referral form on this website. This is a free referral and even if referred, you are under no obligation to retain the referred Independent Professional Advisor.

In contrast, do not be fooled by people claiming to be consultants and tell you they can increase the amount you receive.  What these consultants do not tell you is they charge a large fee.  An Independent Advisor handles this function without the fee.

CONNECTIONS TO PURCHASERS OF STRUCTURED SETTLEMENT PAYMENTS 

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