There are a lot of ways in which you can work with a factoring company. Here are the top three ways in which you as a consumer may be working with a structured funding company.
The first and most common way is to sell a structured settlement annuity payment or payments that you are due to receive or currently receiving. These payments can come in the form of life contingent payments which means that you are only going to get the money as long as you are alive and as soon as you pass away and die then the payments go bye-bye.
The second most common purchases are for annuity payments. This may be something called a SPIA or a different type of income stream that was inherited by you from a loved one who wanted to stock away a savings supply for you come a rainy day. In this case you are trading in future money in exchange for a lump sum that will most likely be a full transfer or 100% new ownership of the payments to the brokering company that we called a "Factoring Company" or a "Structured Funding" broker.
The third most common and this method of trading in payments is drying up as more and more laws are created to regulate this but they are called Lottery and Casino winnings. If you hit the jackpot either in Las Vegas, Nevada or in your home state then you are entitled to take payments either in a lump sum or structured. Most people go structured and decide down the road that they want to trade these payments in for more money now.
We come in and help to facilitate these transfers and if you have any questions then we advise you to call the 708 number here in Illinois for selling any payments and to receive a list of qualified structured funding companies that you can work with.
The first and most common way is to sell a structured settlement annuity payment or payments that you are due to receive or currently receiving. These payments can come in the form of life contingent payments which means that you are only going to get the money as long as you are alive and as soon as you pass away and die then the payments go bye-bye.
The second most common purchases are for annuity payments. This may be something called a SPIA or a different type of income stream that was inherited by you from a loved one who wanted to stock away a savings supply for you come a rainy day. In this case you are trading in future money in exchange for a lump sum that will most likely be a full transfer or 100% new ownership of the payments to the brokering company that we called a "Factoring Company" or a "Structured Funding" broker.
The third most common and this method of trading in payments is drying up as more and more laws are created to regulate this but they are called Lottery and Casino winnings. If you hit the jackpot either in Las Vegas, Nevada or in your home state then you are entitled to take payments either in a lump sum or structured. Most people go structured and decide down the road that they want to trade these payments in for more money now.
We come in and help to facilitate these transfers and if you have any questions then we advise you to call the 708 number here in Illinois for selling any payments and to receive a list of qualified structured funding companies that you can work with.
