Our attorney is tring to sell the settlement to recieve cash up front. He has told us he is having a hard time finding someone who will invest that high. The settlement is in the amount of $178,000. Please any advise on how to go about getting the money or any referral's would be appriciated. He is writing proposals all over the U.S. Thank you!
2006-12-04 05:33:13 · 9 answers · asked by G 2 in Business & Finance ➔ Credit
J.G. Wentworth only buy's settlements from insurance companies. Thank you for all your advise so far... I'm sorry, I'm just learning myself. It's not exactly a settlement, its a judgement, and the reason we're having such a hard time selling it is because it's from an individual party. When it's a judgement, yes they are ordered to pay but no one really cares if they do or not, not even the court. The only person that cares is the person awarded the judement. I know their's got to be places that buy these type of settlement, just finding one is the key.
2006-12-04 05:58:19 · update #1
Good luck. Your attorney will probably find someone to pay his amount pretty quickly.
2006-12-04 05:40:05 · answer #1 · answered by Nelson_DeVon 7 · 0⤊ 0⤋
I would say it depends on your personality,if you think that the temptation to spend all that money quickly will be hard to overcome then you should take the payments over time however if the payer is on shaky ground it might be better to sell and move the risk to the buyer and or investor.Some people are very good at living within a budget some are not which are you and your husband? How much investment expierence do the two of you have if it is substantial then you could manage the money yourself.Do you have other income and or savings to use?How large would the payments be maybe 9000 a year over twenty years that is not much money.Get all the facts you can get and then think this through do not rush to judgement and do not be pressured from lawyer,most lawyers are there to help you.
2006-12-04 06:05:01 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Why not take the structured settlement payouts? Seriously. That way you don't have to take a cut selling it. You may have an investor problem if the payout is from a source that is on shakey legs within the known investment community too.
If the settlement is from a reliable stable source then you'll have a stable income for sometime that you can use as collateral or borrowing power with the banks.
2006-12-04 05:38:28 · answer #3 · answered by L 3 · 0⤊ 0⤋
Yes, if you take the lump settlement from a company that will buy the settlement from you, your husband will get only a fraction of the total settlement. That's how the company makes money. And after the lawyer gets his cut, there will be very little left for your family.
2006-12-04 05:42:46 · answer #4 · answered by OK yeah well whatever 4 · 0⤊ 0⤋
Your attorney should only be doing what you tell him to do! If your individual party is to pay you in installments, most likely you will lose out if you find someone to give you cash up front. Also, have you asked what your attorney will charge for "selling" the settlement? I'm sure his fee will be very healthy!!! My advise is to tell your lawyer you will take the installments. It sounds like you lawyer is money hungry!
2006-12-04 05:36:57 · answer #5 · answered by favrd1 4 · 1⤊ 0⤋
My advice would be to take the settlement on your own. stop, think and then decide what you want to do. the reason your attorney wants a bunch of cash right now is so he can have a bunch of cash right now. If you won the settlement, it is your money. Cut out the lawyer, pay his fees and send him on his way.
2006-12-04 05:38:56 · answer #6 · answered by loomis127 2 · 0⤊ 0⤋
J.W. Wentworth.Com is the only one I can think of, they do settlements, annuities, but they also charge a pretty good fee from the proceeds. With your lawyers fee plus Wentworth's fee, you'll probably end up with about half. Sure wish I had better news.
2006-12-04 05:39:38 · answer #7 · answered by Bob P 3 · 0⤊ 0⤋
Send the Attorney to hell!! He sounds like he is Money Hungry!! Stop and think for a bit...
2006-12-04 05:43:38 · answer #8 · answered by Rainbow Brite 3 · 0⤊ 0⤋
J J WENTWORTH CAN HELP
2006-12-04 05:36:46 · answer #9 · answered by Anonymous · 0⤊ 0⤋