Part 8 – Final Audit and Funding
Congratulations! The judge has approved your transaction and it is time to do one final review of the file so we can put some much needed money into your bank account.
At this final stage of the file, there are a few things that have to be done. First, we will obtain a signed and certified copy of the court order that approved the transaction, together with any stipulation agreements that needed to be signed. Once obtained, we will prepare a Notice of Assignment document that will go to both the Annuity Owner and the Annuity Issuer. This document spells out the assigned payments and the exact name and address for where assigned payments are going to be sent, among other things.
Next, we will perform a full audit of the file to ensure that all of our due diligence items were obtained. At this point, we will get with you to obtain any of those items not previously delivered. Also, we will prepare and forward to you final funding instructions that confirms all of the final figures, including any holdbacks, pass through payments or updated payoffs that have to be dealt with.
Finally, once all of this is completed, funding can take place. There are two options for funding, wherein a customer can request a regular check to be sent to them or they can request a wire transfer. If you request a regular check, this would be cut and sent via overnight delivery. It should be known that banks occasionally will put a hold on regular checks of large value, so if you need instant access to the money, you may want to choose a wire transfer. Wires are done automatically from our bank to your bank. It typically takes a couple of hours from the point of us releasing the funds to showing up into your bank account. The best news on wires is that once it is in your account, no hold would be placed on the money. You have instant access to it. Congratulations again!
All of us at Prosperity Partners want to thank you for choosing PPI as your funding source. We have been in business since 1993 helping thousands of customers like yourself and are grateful that you decided on our professional expertise. Without you, we would not be in business. Good luck to you and if you ever need help, please do not hesitate to count on us again.
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