Part 3 - Disclosure and Transfer Documentation

Now that you have reviewed your options, decided upon the best avenue to take, and the Application is complete, it is time for the funding company to forward you the documentation needed to sell your payments.

Each funding company will have a different operational plan as to what documents to send to you, when to send them and how to send them. However, the timing of your receipt of the entire documentation package, as well as the delivery method to you, is typically set by your individual State statute.

Process

For Prosperity Partners, we like to forward to our customers the entire closing package at two different time intervals. We do this to make sure that your individual State statute is complied with to the fullest intent of the law. Please note that it is possible to send them all at one time, but we choose to eliminate the potential of having to re-sign the documentation by sending them separately.

The first set of documents we will send you will be what is considered the Disclosure Package. Included with the package will be a “Disclosure Statement”, as required by law. Some of the things that this document will disclose to you are: {1} the total amount of payments you are selling; {2} the current IRS Discounted Value of that particular payment stream; {3} the gross amount we are paying to you; {4} what fees, if any, are being charged to you; and {5} what the net payment amount is to you for the proposed purchase.

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