I have a structured settlement and I need cash now

There's companies like this that follow lottery winners around too. Especially lotteries that pay out in annuities. Same MO.

Same thing's happening with loan "restructuring" in the mortgage industry, really.
 
So maybe the lawyers here can answer me this one. If I "bought" your structured settlement, do I get all the rights you had re: said claim? If the defendant defaults, it is now possible for me to sue him to recover the entire payout? Would the courts take into consideration that I had bought it for pennies on the dollar?
Or do I have to go after the person I "bought" it from?
 
silver-eagle said:
So maybe the lawyers here can answer me this one. If I "bought" your structured settlement, do I get all the rights you had re: said claim? If the defendant defaults, it is now possible for me to sue him to recover the entire payout? Would the courts take into consideration that I had bought it for pennies on the dollar?
Or do I have to go after the person I "bought" it from?
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Not a lawyer, but will give you what they will say.

IT DEPENDS. :D

Not to be flippant, but it depends on what the contract says and the ability for it to be assigned. Once you buy it the original beneficiary of the settlement is totally out of the picture and you are dealing directly with the entity holding the paper. It could be a lottery, etc. Part of the risk premium (there's that word again) is factored in to what you pay. As you know, anytime there is a promise of future payments, there is a risk of not getting them.
 
SkyHog said:
Hmmm....I thought more people would be stuck with the song in their head. Wasn't expecting a discussion around the merits of a (really bad) structured settlement deal.

What is a structured settlement anyway? Is it the outcome of a lawsuit?
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Huh. And to think I thought you'd received a settlement or something :nono: I imagined we'd start discussing the relative merits of turbine singles versus twins :)
 
I think they check out the settlement agreement pretty closely before they give you a dime. I've never heard of JGW ever being stiffed. Ever.

Say what you want about two parties willfully entering into a contract, but when when JGW and their brethren prey on people they know are desperate and will accept anything the two parties are not on equal footing.
 
the comercial with the parent's of the multipul babies cracks me up most
"I get long term payments but I need cash now!"

No dickcheese you need long term payments to feed that lot!
 
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