After Protracted Litigation to Get Your Compensation in Tort, Your Cash Gets Fenced In A Structured Settlement and Another Delay Arises, But There’s A Way Out

The “Feres doctrine” devised by the Supreme Court mandates that the US Federal Government is not liable in line with the Federal Tort Claims Act for personal injury sustained by servicemen in the course of duty or related matters to service. The Feres doctrine springs from the exemption for tort claims resulting from combatant actions of the military, the Coast Guard and naval forces at war. Thus, members of the US  army have to resort to the non-judicial executive compensation machinery. Consistent with many Supreme Court and Appellate decisions, the courts have been cautioned not to encroach in intra-military decisions. However, military servicemen acting outside the scope of duty do no escape liability by hiding behind the veil of the “Feres theory” when interacting with members of the public.

Peter Willis got struck by an army truck driven by members of the military who were drunk and sought to sue the government for negligence and intentional torts. Where a claim is not disputed, the Army Corps pays compensation under the Federal Tort Claims Act that makes up leeway for claimants to sue the government. Willis received an upfront lump sum payment to cover his medical costs and monthly installments guaranteed for 20 years. The stream of income morphed into a lottery when Willis got overwhelmed by a slew of expenses and tuition fees. His appeals for a government loan hit a dead end as he had not paid a previous loan. But his cyclic future payments had slipped his mind until he realized he stood a chance of seizing thousands of dollars by selling the structured settlement payments.

Sell Structured Settlement

With Plethora Factoring Companies, the Sky’s the Limit to the Lump Sum Cashable

Willis browsed the internet foraging for the highest bids from structured settlement annuity buyers with online visibility. He solicited for competing for offers to get a ballpark figure of his payment rights. The companies have different policies of computing the lump sum. But Willis played hardball until he nailed the amount he needed with the help of Settle4Cash.com.

You Have to Grasp the Discount Rate and Deductibles

Willis’ structured settlement annuity bequeathed $1,000 monthly installments for 20 years and totaled $240,000. He entrusted Stone Street Capital as they applied a discount rate in single digits, unlike rival companies that charged a whopping 30%. With the discounted present value of $240,000, he could garner 75% of that amount. Discount rates ranging from 8 % to 15% are held fair and reasonable by the courts. A higher discount rate eats up your gross advance amount; sellers need to go for the lowest possible interests.

How Does the Court’s Intercession Benefit Sellers?

The petition lodged in his county court had to meet statutory requirements to get approved by the judge. Federal and state laws clothe superior court judge’s discretion to review the transfer of payment rights to structured settlement purchasing companies. Willis had to attend the court hearing and answered the questions posed by the judge. He explained to the court how life had rocked his boat forcing him to go back to class and pursue a second degree. He attached school application forms, fees structure, notice denying a loan application by the government, and enrollment documents to the petition.

What is a “Servicing Agreement” in Factoring Parlance?

A servicing agreement comes into play where a seller of structured settlement creams off a portion and has to continue cashing in the remainder payments. Some insurers will endorse the transfer and split payments though they won’t dice cash to both the factoring company and the seller. In this case, the insurer or annuity issuer remits payments to the structured settlement funding companies to pass on the remainder to the annuitant.

3 Structured Settlement Annuity Buyers Pacesetting Competitors

J.G. Wentworth will give you the most competitive lump sum offer for your stream of income cashable under structured settlements, lottery awards or annuities. The company’s small discount rates, scaled back transfer expenses, and legal costs ensure you rake in a top-dollar payment.

Stone Street Capital has a wealth of experience and prowess in county courts in the US to help you get a court-approved payout by pleading your case before the judge after an emergency. As a licensed buyer of annuities, the company will eradicate the red tape for you to get paid in a couple of days.