What rate of discount do you typically use?
PPI Cash’s purchase rates are the most competitive rates in the industry. Rates vary based upon the type and structure of the transaction.
Do you charge any closing fees or other costs?
No. There are no hidden transaction costs; We will not charge you for any legal work needed to obtain the court order, assignment fees charged by the Insurance Company, or processing fees to complete the transaction.
Would you buy all or part of my future payments?
We can structure your deal in multiple ways. For example, we can buy all remaining payments, a partial number of payments or a percentage of each payment you receive.
Do I pay taxes on this?
For Structured Settlements: On June 10, 1999, IRS issued Private Letter Ruling 119273-97, which confirmed that an individual’s sale of their structured settlement payments would not create a tax liability to that individual.
For Lottery Assignments: Standard applicable Federal and State taxes will apply to any lump sum amounts received.
How much do I get?
There are many variables involved. The financial rating of the insurance company making the payments, the size of your transaction and how far into the future the payments extend, all affect the amount you will receive. Our financing experts will be glad to discuss with you what your needs are and provide you with a quote.
Why is a court order necessary?
Federal law mandates a 40% excise tax on any assignment if specific state court orders approving the sale are not obtained. 47 States have passed Structured Settlement Protection Acts that define the procedure for obtaining the required court order. Thus, in order to eliminate the need to pay the excise tax, a Court Order is required.
How long does the process take?
In most cases the industry-wide standard is between 30 and 60 days after executing the documentation and providing the settlement and annuity paperwork. Timeframes will vary from state to state, as the judicial process and potential court backlogs can affect court date scheduling.