Starting a new business can be a great way to leverage existing skills and knowledge about an industry into a long-term source of income, while gaining more control over your career. If you’ve been thinking about forming a start-up or small business, think about this: a down economy can actually be a good environment for a fledgling enterprise.

One reason that some small businesses do well in a down economy is that competition – for customers or employees – can be less intense. And a less-crowded field offers a new business an opportunity to get more visibility in a local market, for those who can get the funding that they need. One way to get that funding is to sell some or all of your structured settlement.

Selling a structured settlement can be an effective way to shore up your business plan with cash. Most start-ups need significant amounts of money for initial investments in equipment, personnel, and everything else they need to thrive. The problem is that many would-be entrepreneurs experience a cash crunch during a company’s early days – and getting funding from banks or other investors is tougher in a downturn.

To get the most out of selling a structured settlement, you’ll need to figure out how much you need for your small business investment. Of course, you’ll want to generate as little cost as possible in terms of fees and paperwork costs. You’ll also need to anticipate some legal processes for selling a structured settlement for your business capital.

Start by shopping around for competitive prices from structured settlement buyers. It also smart to do “due diligence” or thorough research on the firms that will partner with you to achieve a great business funding strategy with a structured settlement lump sum.

CBC is a structured settlement buyer with a reputation for helping clients use structured settlement sales to their immediate advantage, for a business investment or any other reason. Our dedicated team of professionals can help you to get the most out of your plan to sell a structured settlement in order to invest in your new enterprise.

We work to make sure that you get the maximum benefit out of your desired structured settlement sale plan, so that you can operate your business with the cash on hand that you need to generate future growth. Talk to us about cashing out all or part of your structured settlement and opening the doors for your new business.

CBC Settlement Funding

Selling a structured settlement can be a great way to generate money to purchase a home.

And while some buyers in today’s real estate market are still wary of putting a lot of money into a home purchase for fear prices might still be moving downward, there are compelling reasons to buy a house now. Mortgage payments still build equity. And despite a down economy, paying off a home over time is a major way for families to save for the future.

Another big reason to buy now: Residential mortgage rates are historically low. A mortgage at just 3%-5% interest can build more equity sooner, and experts warn that it’s only a matter of time before interest rates for home loans climb back to the higher rates of previous decades.

However, it’s almost always necessary to put significant money into a property at closing. When you are looking for a down payment on a mortgage, selling all or part of a structured settlement can help you to get the lump sum you need.

You can choose the amount to sell or “take out” of your structured settlement but keep in mind that surrender costs and other charges can take a bite out of the lump sum you receive when you sell a structured settlement. Since there are many companies willing to pay cash for a structured settlement, it’s important to shop around to get the best offers from structured settlement buyers.

As a structured settlement buyer experienced in helping clients “cash out” to aid in a property purchase, CBC understands your needs. Our financial professionals will work with you to deal with the costs, paperwork, and legal issues involved in an annuity sale so that you are ready on settlement day.

Let us help you complete the structured settlement process so you can write that check for a first home, investment property, or any other real estate purchase.

CBC Settlement Funding

You may be receiving payments from a structured settlement if you have won a personal injury lawsuit and received a sizable settlement, or if you settled out of court for a large sum of money.

So what is a structured settlement? A structured settlement is an arrangement whereby a successful plaintiff in a personal injury cases receives the settlements proceeds in installments over a period of time. A structured settlement pays out a tax-free, guaranteed income stream to the recipient over the term of the settlement. The payments can be structured in various ways, including yearly payments, monthly payments, deferred payments, or an initial lump payment with monthly payments thereafter.

Structured settlements are not all alike. For example, if you are receiving a structured settlement as the result of a lawsuit involving an injury or a medical mistake, the terms of the agreement can vary depending on the nature of the injury and to what degree it affects your well being.

Can I later modify the payout from my structured settlement?

Although you are NOT able to alter the terms of the original settlement you can sell all or a portion of the future payments in exchange for a lump sum.  This typically happens where you have a pressing financial need and need a lump sum of cash rather than monthly payments or annual payments.  This process is regulated by state statutes for your protection..

There are plenty of valid reasons why you might want to sell a structured settlement. Some people sell their annuity payments to pay medical expenses or settle credit card debt. Others may need the money to start a business, invest in real estate, or enroll in college.

No matter how your life changes, an experienced company like CBC Settlement Funding can help you get a lump sum of cash when you need it from your structured settlement.

CBC Settlement Funding

Various factors influence the length of time it takes for you to receive a settlement lump sum from the buyer of your structured settlement. These include state laws and court system schedules as well as the time you need to review the documentation and the decision to go forward with the sale.

That being said, it typically takes between 30 and 45 days to receive a cash payout from a structured settlement buyer. However, it may take up to two months depending upon the circumstances.

One reason that the process may take longer is that the laws governing the sale and transfer of structured settlements vary from state to state. Most states require the review of all documentation by a third party, which can also add to the time it takes to receive a lump sum.

The court proceedings can also affect the timing of your lump sum payment. A hearing first needs to be scheduled, which can take up to 30 days. The assigned hearing date can be 20 days later. Sometimes there are multiple hearings, as there may be in complex cases or ones in which multiple parties are involved. More hearings add more time to the process of getting payment.

Most individual court hearings only take 15 to 20 minutes, during which you must explain to the judge that the structured settlement sale is in your best interest. However, the judge or other parties can object to the sale, which can also lengthen the process.

Once the court approves the transaction, the structured settlement buyer can deliver the settlement funding. How long does that take? It depends on the company involved. CBC will typically transfer your money to you within 48 to 72 hours after a written court approval is received.

This process for obtaining a lump sum does take time. While the process requires diligence and patience, it is important to remember that it is designed to protect your interests.

CBC Settlement Funding

People who benefit from a structured settlement often receive cash as the result of a successful personal injury claim. The money is usually awarded in increments over time, called annuity payments.

While having a steady stream of income from annuity payments has its upside, there are many legitimate reasons why you might choose to sell a structured settlement. You may need a lump sum of cash now in order to cover college costs, to buy a new home, or to pay down debt.

The good news is that it is possible to sell structured settlements. Doing so requires a court appearance by the seller (depending on the state) and the structured settlement buyer (the party willing to buy the annuities), along with a judge’s approval of the transaction.

But that’s not all. There are several other requirements for successfully completing this process.

First, the settlement seller must be of legal age – 18 or older – in order to engage in such a transaction.

Proof that the cash proceeds will benefit the well-being of the seller and his or her dependents is also necessary. The laws that govern the sale of a structured settlement are intended to protect both the seller and the buyer, and require a finding of ‘best interest’.  There is a court process in order to make this determination.

Proof of identity is also required. If anyone else were to have access to settlement funding this could be a serious case of identity fraud. The  accepted documents for legal identification are  Photo ID, driver’s license, passport, and birth certificate.

At the court hearing, additional requirements often include the review of a settlement agreement and release; a letter stating the terms of the annuity contract, written on official letterhead from the insurance company involved; bank statements; and some state laws even require that the seller obtain an independent professional advisor to review the transaction.

The final requirement is that the judge reviews all of the documents and approves of the transaction for the structured settlement sale to officially take place.

CBC Settlement Funding