Liberty Settlement Funding - Structured Settlements
Liberty Settlement funding is a company that specializes in buying and selling structured settlements and annuities. They are based in Dania Beach, FL, and were founded in 2015. In addition to structured settlements, they also purchase lottery winnings.
Structured settlements usually come out of a court case and act as a schedule of payments to cover the damages determined in the court case or settlement. As such they can be someone's primary source of income. Because of this, and other reasons, it is important to talk to a qualified financial planner or advisor before selling your structured settlement or annuity to make sure that you fully understand the implications of the sale on your financial security and future.
Liberty Settlement Funding has a fairly basic website that offers more resources than many other sites that we reviewed. One of the most helpful resources is a link that contains the state laws regarding structured settlement sales so that you can read for yourself and understand the laws concerning selling your structured settlement or annuity. Additionally, they make it incredibly fast and simple to get a quote. Like most structured settlement companies we looked at, they do not offer rate or fee information up front. This is not that unusually because every structured settlement is different and it can be hard to make a blanket statement on such things.
Liberty Settlement Funding also has good information regarding the process of selling your structured settlement or annuity. This is important because this can be a complicated feat. One example of this is that because your structured settlement or annuity was awarded by a court, a judge has to approve the sale. Moreover, laws regarding structured settlement sales are different in each state, and so you may also have to hire a lawyer, which is an important cost to consider.
Another important aspect to consider is that you will not be paid the full amount of your settlement when you sell it. Instead the lump sum you receive will be for the settlement minus a discount value. This is the margin that the company makes into a profit. This is another reason why it's important to talk to a qualified financial advisor or planner before selling your structured settlement or annuity so that you can understand how your financial future will be impacted.
Finally, it is important to be aware that there are some times of structured settlements that cannot be sold. While these laws are different in the various states, you can broadly assume that settlements resulting from worker's compensation, divorce, child support, and certain retirement products cannot be sold. However, every structured settlement is different, and you can call Liberty Settlement Funding to determine if your structured settlement or annuity can be sold.
Liberty Settlement Funding offers above average resources and an easy to understand website. While they are a new company, they have been growing in popularity in the structured settlement market, and they are not a bad place to go to in order to obtain a quote.