Structured Settlement Transfer Granted San Bernardino County

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Structured Settlement Transfer Granted San Bernardino County

By AFG Newswire

August 4, 2014

 

Structured Settlement Transfer Granted San Bernardino County

Structured Settlement Transfer “Granted”:  a San Bernardino County Resident, a New York Transfer Company, and a Sacramento Law Firm-With No IPA.

 

At the end of July, a San Bernardino County resident transferred his payment rights successfully to a bank based in New York, represented by attorneys based in Sacramento.   And no independent professional advice to be found for the resident.

 

This is legal.  The transferee, the structured settlement obligor, or the annuity issuer, must be from the county of original jurisdiction, in this case, it was San Bernardino County (10139.5(f)(1)).

 

The transfer company and their attorneys do not have to be from the county of original jurisdiction.  If there is another party buying the payment stream as a recycled annuity, they do not have to be from the county of original jurisdiction as well.

 

The sad part here, the resident had no independent professional adviser.  We have no idea what price he got for his dollar.  Rates differ with different companies, especially “out-of-state” companies.

 

The Importance of an Independent Professional Adviser

The growth of advancing laws creates a larger arena of events that needs consideration.  The importance of independent professional advice becomes greater.

 

The independent professional adviser is an accomplished thinker trained in performing due diligence on your behalf.  In this particular case, the resident dealt with a well established law firm who’s practice areas are “workers compensation”, “personal injury”, “bankruptcy”, “labor law”, “real estate”, “business law”, “social security”, and they command a hefty price for their services.

 

Then there is the bank in New York.  Did the resident really have bargaining power with a bank in New York that is a “full service, federally chartered savings bank serving professional service firms, law professionals, etc.”?

 

In addition, who was the third party mystery person?  Did they buy the payment stream?  Did this resident even know that angle of this whole deal?

 

It’s not that the resident or the “transferee” or the “payee” needed to understand the whole process, it is protection the resident needed.  The resident had no idea what options were out there, the resident was unrepresented; and it didn’t have to be that way.  California law provides $1,500 for an independent professional adviser.

Structured Settlement Transfer Granted San Bernardino County

Structured Settlement Attorney


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Independent Professional Adviser Interprets Disclosure Statement

By AFG NewswireStructured Settlement Advisor

July 9, 2014 11:56 a.m. PDT

 

Independent Professional Adviser Interprets Disclosure Statement

Structured Settlement Transfers are Still Confusing

 

For an interpretation on money matters in the disclosure statement see our last article, “The Disclosure Statement for a Structured Settlement Transfer:  What They’re Really trying to Tell You With the Numbers”.  In this article, we interpret the rest of the disclosure statement.

 

California legislature sets the standard for the disclosure statement.  The California legislature makes the transfer company follow an exact format, with exact words to write, to inform you the consumer what is going on; this is why the disclosure statement confuses the consumer, because it is literally taken from the California Code of Insurance.

 

There are typically 2-4 pages.  The first pages announces the “sale”, and breaks down how the money went from the original price to the price with which you walk away, as is stated in the article we mention above.

 

The second page explains why you need an independent professional adviser and advises you to get independent professional advice.  The courts want you to have an independent professional adviser, and state that you have $1,500.00 to accomplish this.

 

On the second page, it also states that you will not receive any money until a court approves the sale.  –Even more reason to get help from an independent professional adviser.

 

Then the document goes on to explain how you can cancel the contract before court approval, but you have to do it in writing.  You do not need any special form.  You send your written cancellation to the transfer company.  Make a copy!  There is a time frame here.   Contact your independent professional adviser for guidance on the time frame.

 

If there is a third page, it is giving you information on how to contact your District Attorney if you feel you were mistreated, or mislead.  Then there is room for your signature.  THIS IS NOT THE CONTRACT.  This document is submitted in court.  Without the disclosure statement, the sale will not go through.

Structured Settlement Attorney


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The Validity of Law is Not Related to Morality Structured Settlement Transfers & Independent Professional Advice

The Validity of Law is Not Related to Morality when it comes to Structured Settlement Transfers & Independent Professional Advice

 Structured Settlement Transfers, Legal vs. Moral

What is legal does not mean it is moral.  Do not confuse the two words.  Just because a judge can approve your transfer when you do not have an adviser, does not mean the judge agrees with what you are doing.  It just means it’s legal, (as long as you signed the “waiver”), not moral.  Not smart either.

What Can Be Moral and Legal (and smart)

Is that you are doing everything in your power to protect and inform yourself to get the best price possible for your structured settlement payments.  You have $1500 to hire an adviser for this purpose only.  That is legal and moral (and smart).

What Can Be Legal and Not Moral

The fact that you are loosing so much money in the first place, is legal, not moral.   But as long as you go in this contract with your eyes wide open, and you have a need right now in your life that warrants selling your payments, there is law in place that makes this legal, not necessarily moral.

There are multiple transfer companies that offer competitive prices for your payments; you might not have known that.   The transfer companies might not tell you this.  That’s legal, not moral.  But it’s good business practice on their part, not yours.  Your independent professional adviser can help you shop around for the best prices.

 

 Structured Settlement Advisor

 

AFG 
Structured Settlement  Transfers,  
Independent Professional Advisors
Structured Settlement Attorney Eugene Ahtirski
(855)313-3327
 
It is our intention here to show that having an Independent Professional Advisor in your structured settlement transfers is extremely important. As each case is very unique, only a trained =, experienced professional can see their way through the legal system correctly.
 

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Number One Question in LA County When Selling Structured Settlements

The Number One Question in LA County When Selling Structured Settlements:

 

Do I have to go to court if I want to transfer my structured settlement in Los Angeles County California?

Yes, but you are not being summoned to court; there are no plaintiffs or defendants; no one is suing anyone; it is a formal court proceeding with a judge and opposing sides present-but no jury.  It is a “hearing”.

Who Contacts the Court First to set up the hearing?

The transfer company hand delivers the formal written request to the Court asking for a specific judicial action.  It is a “petition”.  The formal phrase is:  “Special Actions Hearing on a Petition”.

It’s Like Buying a Car

 The concept of the structured-settlement-transfer-agreement-contract is similar to the contract when you buy a car.  Providing for both types of contracts are the Consumer Protection Laws.

Except with the structured-settlement-transfer-agreement-contract, a judge must approve it, AND you have to an adviser, guiding you about the legal, tax, and financial implications of what you are doing.

Why?

More stringent Consumer Protection Laws with the sale of Structured Settlements.

Questions like these come up all the time, there are also a lot of questions . It is our job as consumer protection firm to make sure all your questions are answered.

AFG
Structured Settlement Attorney Eugene Ahtirski
afg@ealycash4u.com
(855)313-3327

Providing no cost Independent Professional Advise to sellers of structured settlements in California.

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ARE YOU BEING TREATED FAIRLY? Do you need an Independent Professional Advisor

ONE QUESTION:  ARE YOU BEING TREATED FAIRLY?

Do you need an Independent Professional Advisor?

FACT: CA JUDGES WANT TO SEE SELLERS RECEIVE IPA ADVICE
FACT: CA SELLERS ARE ENTITLED TO OBTAIN IPA ADVICE AT NO COST!
FACT: IPAS INCREASE CHANCES OF COURT APPROVAL AND OFTEN SPEED UP PROCESS
FACT: IPAS CAN OFTEN GET YOU MORE MONEY FOR YOUR PAYMENTS
* RETAIN AFG AS AN IPA IN YOUR TRANSFER WE WILL PAY YOU $100.00 – AND THATS A FACT!

Structured Settlement Advisor                                                       

INDEPENDENT PROFESSIONAL ADVISORS FOR ALL SELLERS OF STRUCTURED SETTLEMENTS
OUR LOYALTY REWARD PROGRAM WILL PAY YOU $100.00* IF YOU ALLOW US TO HELP YOU IN THE SALE OF YOUR STRUCTURED SETTLEMENT!
CONTACT US NOW
(855) 313-3327
Structured Settlement Attorney Eugene Ahtirski
THIS AFG NEWSLETTER INFORMS YOU OF YOUR LEGAL RIGHTS AS A SELLER OF A CA STRUCTURED SETTLEMENT. AFG, LLC IS A WHOLLY OWNED SUBSIDIARY OF THE LAW OFFICES OF EUGENE A. AHTIRSKI
ASSISTING SELLERS SINCE 2006 WITH FREE IPA ADVICE! ALL NEW SELLERS WILL ALSO RECEIVE $100 AS A LOYALTY REWARD TOO!

Yes you do need an Independent professional advisor!

Eugene Ahtirski is a leading Structured Settlement Attorney and has been providing Independent Professional Advice to sellers of structured settlements for many years. Having someone like that in your corner that literally has hundreds if not thousands of structured settlement transfers under his belt, is more than just beneficial.