Novation Settlement Solutions - Structured Settlements
Novation Settlement Solutions is a growing company that was founded in
2000. Since that time, they have purchased more than $1.2 billion in
structured settlements and annuities. Novation is one of the minority of
firms that we reviewed that deals in products that aren't structured
settlements. They are willing to buy any structured cash flow including
lottery winnings, royalties, and other such income. With a 97% court
transfer approval rate, it's easy to see why they are among our best
structured settlement companies.
One of the best services that Novation offers is that of a free
consultation regarding your structured settlement, so you can understand
what kind of cash payment you could get for selling it. It is important to
note that Novation does not have to tell you about other options involving
your structured settlement, so make sure you talk to a lawyer and/or a
qualified financial planner or advisor before trying to sell your
structured settlement so you can get a full idea of the consequences of the
The website has a good FAQ section that covers a number of the terms that
people may be unfamiliar with. Moreover, there's a blog that covers
different subjects in the area of structured settlement sales and
purchases. They also make you aware of the timeframe for selling your
structured settlement, which can be complicated, and put it at 60-90 days.
This estimate is a bit higher than some other companies we've reviewed, but
it is possibly more realistic.
One of the reasons it can take so long to get your structured settlement
sold is that the sale has to be approved by a judge. This can take time and
may also require the services of a lawyer. Moreover, the laws of your state
may compel you to hire one or to visit a financial consultant. All of these
things take time, and are also good elements of due diligence when it comes
to making large financial decisions.
Another important consideration to take into account is that you won't get
the full value of your settlement if you sell it. Companies like Novation
Settlement Solutions will pay you what is called a discount rate. This rate
lets the company buy the structured settlement from you for less than its
total value and then sell it to someone else who will also profit. As a
result, selling your structured settlement can have serious financial
implications that should be fully investigated.
It is also important to know that not all structured settlements can be
sold. While laws and situations vary, in general structured settlements
that arise from worker's compensation, divorce, child support, or certain
retirement funds cannot be sold. However, you can contact a company like
Novation Settlement Solutions to get more information about your specific
Novation Settlement Solutions is one of the best known and most reputable
firms in the structured settlement marketplace. Their professionalism, free
consultations, and easy to use website make the among the best structured
settlement companies we looked at.