Dear Rescue Capital,
I want to sell my future payments. What type of attorney do I need?
Erika in Washington
The whole point of you getting an estoppel attorney is because your state has determined it is in your best interest to have a 3rd party review your potential transaction. For numerous reasons, the first being to make sure it is in your best interest taking into account your dependents and current situation, the second to ensure you understand the legal ramifications you are entering into as you are signing a legally binding agreement. Thirdly, to make sure you are getting the best deal for your transaction.
I was reading a blog post this morning from a divorce lawyer about the different ways to pay for a divorce when you don't have the money. One way was to get your spouse to pay, which is quite difficult. Another way was to borrow from family and friends. The third way was a divorce funding service that allows you to borrow money for lawyer’s fees in exchange for a "reasonable" percentage of your divorce settlement. But what about the people who won't be receiving a hefty divorce settlement? What are their options?
If you have an illiquid asset such as an annuity, structured settlement, life insurance policy, royalties, inheritance, pensions, cell tower leases, mortgage notes, lottery payouts or other period payments; you have options. You can sell all or part of your future payments in exchange for a cash lump sum. You can use the money any way you want ??make car payments, pay medical bills, attorney's fees. It's your money, your way.
Depending upon your payment structure you can defer selling your payments for a few years. This allows you get your cash immediately but your periodic payments won't be reduced until later.
If you have any questions about selling your future payments for cash, call Rescue Capital for your free no-obligation quote at 866.688.3532.
A Court Order Attorney files the petition for court approval of an annuity transfer when you sell your structured settlement or annuity payments for a cash lump sum.
An Estoppel Attorney is an attorney that represents the seller in a financial transaction such as selling your structured settlement for a lump sum payment. This attorney is an adviser, protecting the seller's best interest.