Rescue Capital Blog Your Money, Your Way

8Jul/13Off

Getting a free quote is easy at Rescue Capital

Posted by Rescue Capital

Stress free quoteI know that I am not alone in saying that calling in to a business to get a free quote can sometimes be stressful. Whether it is for insurance, some product or service you may be interested in or more complicated stuff like financial advisors, the process can, at times, be less than enjoyable. You could get a pushy salesman who won't take no for an answer. You could get someone on the line who is new and doesn't have any answers to your questions. You sometimes could get sucked into the old bait and switch or be persuaded to do something that is not in your best interests. At Rescue Capital, we try our best to make it easy and stress free every time.

When you call in to Rescue Capital, we are committed to helping you get all the information you need in a timely fashion. We will  answer any questions you may have about the process of converting future payments of a structured settlement annuity into a lump sum of cash. We will review with you all the options available for you and then we will let you take the time to make your own decision. Our Team has many years of experience dealing with all types of situations and helping those with many different needs. We know and understand how to help people get cash for their structured settlement annuity payments in every state and from most every insurance company out there. 

So, give us a call at 1-866-688-3532 and let us see if there is anything we can do to help you. If you don't have time to talk to us right away, then simply fill out out our online quote request form and we will get back with you when it is more convenient for you. 

 



13Jun/13Off

Good reasons to sell your structured settlement payments for cash

Posted by Rescue Capital

Chances are you have probably seen at least one “get cash for your structured settlement or annuity payments” commercial on TV.  What the commercials don't tell you is that the courts have to rule that selling some or all of the future payments of a structured settlement is in the best interest of the annuity holder before they approve  of it and the funds are distributed.  Wanting to go on a trip to Las Vegas or wanting to take a ski trip to Vail Colorado for the 2 months will usually not get approved. Yet, there are some very good  reasons why someone would want to consider selling future settlement payments . Here is a list of some valid reasons that courts have approved in the past.

  • Avoid foreclosureGood reasons for Rescue capital to help you
  • Pay for medical care
  • Make home repairs
  • Pay off high interest debt
  • Start a business
  • Put a down payment on a house
  • Buy a car
  • Continue your education
  • Pay taxes

The courts just want to make sure that it is a real need and that you are not being taken advantage of in any way. That is a good thing. Waiting for future payments does not always work with your financial needs, especially when you are struggling financially. That's why Rescue Capital is here to help. By purchasing all or some of your future payments for a cash lump sum payment, you can use the money when you really need it. If you would like to discuss your specific situation with us and take a look at some options that may help you, give us a call at 1-866-688-3532. If you don't have the time right away, simply fill out our online request form here and we will get in touch with you at a more convenient time.

 

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23Jan/13Off

Selling your annuity to pay for college

Posted by maureen

Paying for a college education is a serious consideration for most young adults and their parents.  Now is the time that colleges will soon start sending out acceptance letters and financial aid packages to those who were admitted.

For many looking to pay for their higher education, they will turn to the Office of Federal Student Aid and fill out the Free Application for Federal Student Aid (FAFSA).  There is an overview of this program on the government website, http://studentaid.ed.gov/fafsa.   An important note! Start this process as soon as you can. The sooner you apply the greater your chances.

sell settlement paymentsIf you are one of a select few to have a structured settlement annuity, should you sell the future payments to pay for college?  The answer is simply NO – not until you have explored all other options first.  This is the answer given by many Judges around the country.  As expressed by a NY Judge In The Matter Of The Petition Of J.G. Wentworth Originations, LLC (Pretto) “However admirable Pretto's intention to obtain a degree… the taking of such a deep discount on her settlement funds is a questionable means of attaining her goal.”

The US Department of Education, the lender for low-interest loans for students, has current rates of 3.4%.  The loan is commonly known as a Stafford Loan.  A Stafford Loan is a student loan offered to those eligible students enrolled in accredited Colleges and Universities.  A current variable student loan that is pegged to the 91-day Treasury bill is less than one percent at .075%.  Graduate students can access student loans at 6.8%.

We estimate industry rates for structured settlement transfers to be on average around 14.5%.  This is much higher than student loan rates currently available.  While some sellers of structured settlement annuities can obtain rates in the single digits, say 8%, those are available to annuities with much larger values and do not comprise the majority of annuities in force.

It is very common for minors involved directly or indirectly during a tort settlement to have a structured settlement designed for them so as to provide a stream of future payments.  From our experience of reviewing thousands of structured settlement annuity policies, a majority of these policies, had college education as a factor; and more oft than not payment streams begin to be dispersed from ages 18-22 or at the age 22 assuming completion of a higher education program.

Looking at the comparable rates, 14.5% vs. 3.4% it doesn’t take a higher education to figure out the better deal.  Explore all of your options first and like and good student – do your homework and obtain multiple structured settlement quotes before choosing a buyer.

If for whatever reason, a prospective student cannot get any financial aid, then Rescue Capital can help.