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The typical structured settlement arises and is structured as follows: An injured party (the claimant) comes to a negotiated settlement of a tort suit with the defendant (or its insurance carrier) pursuant to a settlement agreement that provides as consideration, in exchange for the claimant's securing the dismissal of the lawsuit, an agreement by the defendant (or, more commonly, its insurer ...
A structured settlement factoring transaction is a means to raise liquidity where there is no other viable means, via the transfer of structured settlement payment rights, for items such as unforeseen medical expenses, the need for improved housing or transportation, education expenses and the like, or in a situation where the individual has simply spent all his or her cash.
J.G. Wentworth was formed by James D. Delaney and Gary Veloric in 1991 as a merchant bank specializing in transactions in the healthcare industry. [6] [7] In 1992, the company began to purchase New Jersey auto insurance deferrals from claimants who could not afford to wait twelve to eighteen months for their settlements. [8]
A structured settlement is designed to compensate individuals following the outcome of a civil lawsuit. For example, if you were involved in a car accident and were seriously injured, you may ...
The company was one of America’s main providers of structured settlement purchases to victims of New Orleans' Hurricane Katrina in 2005. [7] Peachtree Financial Solutions has received numerous awards for their products since it was founded. New York Law Journal – Best Litigation Funding Provider [8]
Debt settlement could cost more in fees and taxes, as settled debt is taxable. Timeframe : Paying off consolidated debt might take several years, depending on your balance. The debt settlement ...
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