North Carolina Independent Professional Advice

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Structured Settlement Advisor

North Carolina Independent Professional Advice

North Carolina Residents:  You must receive independent professional advice

If you are living in North Carolina, and wish to transfer your structured settlement payment rights, you absolutely, must receive the “independent professional advice” as required by law:

Article 44B Structured Settlement Protection Act (SSPA), defines an independent professional adviser:

  • 1-543.11.(3) “Independent professional advice” means advice of an attorney, certified public accountant, actuary, or other licensed or registered professional of financial adviser:
  1. Who is engaged by a payee to render advice concerning the legal, tax, and financial implications of a transfer of structured settlement payment rights;
  2. b. Who is not in any manner affiliated with or compensated by the transferee of such transfer; and
  3. c. Whose compensation for rendering such advice is not affected by whether a transfer occurs or does not occur.

 

This advice is required per this code in the SSPA:

  • 1-543.12.(4) The payee has received independent professional advice regarding the legal, tax, and financial implications of the transfer.

 

North Carolina residents don’t have an option with receiving independent advice, you must have it.  We’re a nation-wide independent professional advisor for the transfer of structured settlement payment rights.

North Carolina Independent Professional Advice

Call today for a free consultation, we can help. Structured Settlement Advisor

Andres Financial Group, is a highly professional group in Independent Professionals providing advice in the transfer of structured settlements. Associates across the US, with the ability to pool all our resources in your best interest.

IPA services include but are not limited to; best interest advice, fair market analysis, court document review, & court appearance.

We pride ourselves on getting 90% of our cases approved the first time in front of the judge. We do not accept a denial as a possible decision, and will seek to keep the case open should the judge attempt to deny.


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Structured Settlement Advisor

Maryland Independent Professional Advice

Maryland Residents:  You must have independent professional advice

 Structured Settlement Advisor

If you are a Maryland resident and you are interested in selling your structured settlement payment rights, you must obtain independent professional advice.  Below we cite how Maryland defines independent professional advice, and then we cite the code that REQUIRES you to have independent professional advice.

 

  • 5-1101(c) Independent professional advice.–“Independent professional advice means advice of an attorney, certified public accountant, actuary, or other licensed professional adviser:

(1) Who is engaged by a payee to render advice concerning the legal, tax, and financial implications of a transfer structured settlement payment rights;

(2) Who is not affiliated with or compensated by the transferee of the transfer; and

(3) Whose compensation is not affected by whether a transfer occurs.

 

The Maryland code that REQUIRES you to have independent professional advice is:

  • 5-1102(b)(3) The payee received independent professional advice regarding the legal, tax, and financial implications of the transfer.

 

We have nation-wide independent professional advisers.  Call today for a free consultation.

Maryland Independent Professional Advice

Andres Financial Group, is a highly professional group in Independent Professionals providing advice in the transfer of structured settlements. Associates across the US, with the ability to pool all our resources in your best interest.

IPA services include but are not limited to; best interest advice, fair market analysis, court document review, & court appearance.

We pride ourselves on getting 90% of our cases approved the first time in front of the judge. We do not accept a denial as a possible decision, and will seek to keep the case open should the judge attempt to deny.


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Transfer Company Can’t Make You Do

By AFG Newswire Nov.22, 2014 12:31p.m. Block 13.3  Article 2.3 Transfers of Structured Settlement Payment Rights

California Residents:  What the Transfer Company Can’t Make You Do, Part 1

 

  • 10138(a) is the opening, enabling paragraph to 10138, and is 2 sentences long.

 

(10138 has it’s opening paragraph, lists twelve (12) prohibited provisions, then has a closing, waiver, paragraph that makes all parties unable to waive any of these prohibited provisions.)

 

  • 10138(a) alerts the reader that there are listed conditions that are not to be included in the transfer agreement, and that if any of these listed conditions are in the transfer agreement, the transfer agreement will be void and unenforceable. No good.

 

Not such an exciting clause, but it is setting the stage for what is about to come.  And what is about to come is a long and arduous list of oppressive wrong doings to consumers.  Each one of these prohibited provisions or listed conditions happened in the past; that’s why it’s law now.  Count your blessings it didn’t happen to you.

 

What’s scary is what oppressive activity might be out there right now.  Your only protection is an independent professional adviser.  They’re almost like a friend of the court.  Like a liaison between the courts, and the community.

 

  • 10138(a) states, “A transfer agreement, as defined in (o) of Section 10134, shall not include any provision described in the paragraphs below. Any inclusion of a prohibited provision, with respect to a seller who is a California resident, shall make the provision void and unenforceable.”

 

Keep a look out for further articles on “California Residents:  What the Transfer Company Can’t Make You Do” as we explore each prohibited provision one by one.


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Cancel if You Need To

By AFG Newswire Nov.13, 2014 4:27 p.m. Block 12.3  Article 2.3 Transfers of Structured Settlement Payment Rights

10136(e) You Can Break a Provision, and Cancel if You Need To….

 

There is a provision in 10139.5(a)(6) that states, “The payee understands and does not wish to exercise the payee’s right to cancel the transfer agreement.”  But if you do wish to cancel the agreement, and if you have sent a letter to the transfer company stating so, section 10136(e) is telling the payee, yes, the courts will recognize the payee’s wish to cancel, despite the fact that the code says you won’t.

 

A little confusing, but, in short, you have the ultimate say so.

 

If for some reason, you have not sent a letter to the transfer company, and you are standing there at the eleventh hour, and you have decided last minute, in the court house to cancel, right when the court was going to begin proceedings of approval, chances are, you can, if done in writing right there, addressed to the transfer company.

 

At this point, it would be a case-by-case basis.  No judge wants to see anyone forced into selling their structured settlement payment rights.  If you even question whether you might be a candidate for a situation like this, best to contact an independent professional adviser now, and address your fears before the eleventh hour.

 

This is the very last subsection of section 10136, subsection (e), and it states:

At any time before the date on which a court enters a final order approving the transfer agreement pursuant to Section 10139.5, the payee may cancel the transfer agreement, without cost or further obligation, by providing written notice of cancellation to the transferee.”

 

This is why state legislatures and Congress have strongly recommended and advised consumers to seek independent professional advice regarding the legal, tax, and financial implications:  to avoid any confusion or fears the consumer may have regarding issues during the transfer of their structured settlement payment rights.

 

Independent Professional Advisers are here to help, not hinder.

Structured Settlement Attorney


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Your Right to Cancel the Transfer

Block 12.1 Article 2.3 Transfers of Structured Settlement Payment Rights

10136(c)(13) Your Right to Cancel the Transfer Agreement is Stated in the Disclosure Statement

 

This article and the last thirteen (13) articles have been about what is required by law to be in the Disclosure Statement; that is what 10136(c) et al is all about.

 

10136(c)(13), is the last subdivision of (c), (13) being the last of 13 out of 13 subdivisions of subsection (c).

 

10136(c)(13) tells TRANSFER COMPANY to make a statement in the Disclosure Statement to the consumer in “larger print”, that they can cancel their transfer agreement at any time, in writing, without a special form, as long as IT IS IN WRITING:

 

(13) states, ” The following statement printed in 14-point type, circumscribed by a box with a bold border, and set forth immediately above or adjacent to the space reserved for the payee’s signature: “You have the right to cancel this agreement without any cost or obligation until the date the court approves this agreement. You will receive notice of the court hearing date when approval may occur. You must cancel in writing and send your cancellation to [insert transferee’s name and address].”

What is so special about these instructions is that the law directs the transfer

company to put your right to cancel into…

google12

Can you believe it?  The law directs the transfer company the way something needs to look?  Not just what the law needs to mean, but also what it needs to look like when the transfer is company is trying to explain itself to you.

 

Now THAT is consumer protection in action!  You’ll see this kind of “print” in your Disclosure Statement.

Structured Settlement Attorney