Structured Settlement Investment - Get your Cash Now!

Sometimes when a plaintiff settles a case for a large sum of money, the defendant, the plaintiff's attorney, or a financial planner consulted in association with the settlement, will propose paying the settlement in installments over time rather than in a single lump sum. When a settlement is paid in this manner it is called a "structured settlement". Often the structured settlement will be created through the purchase of one or more annuities, which guarantee the future payments.

A structured settlement can provide for payment in pretty much any schedule the parties choose. For example, the settlement may be paid in annual installments over a number of years, or it may be paid in periodic lump sums every few years.

Potential Disadvantages of Structured Settlements

Some people who enter into structured settlements feel trapped by the periodic payments. They may wish to purchase a new home, or other expensive item, yet be unable to muster the resources because they can't borrow against future payments under their settlement.

Some people will do better by accepting a lump sum settlement, and investing it themselves. Many standard investments will give a greater long-term return than the annuities used in structured settlements.

Selling a Structured Settlement

If you have a structured settlement, you may have been approached by a company interested in purchasing your settlement, or may be curious about selling your settlement in return for a lump sum buyout. About two thirds of states have enacted laws which restict the sale of structured settlements, and tax-free structured settlements are also subject to federal restrictions on their sale to a third party. Also, some insurance companies will not assign or transfer annuities to third parties, to discourage the sale of structured settlements. As a consequence, depending upon where you live and the terms of your annuities, it may not be possible for you to sell your settlement.

Keep in mind that companies which buy structured settlements intend to profit from their purchase, and sometimes their offers may seem quite low. You may benefit from approaching more than one company in relation to the sale of your settlement, to make sure that you obtain the highest payoff. You also want to be sure that the company which wants to buy your settlement is established, well-funded, and reputable - you don't want a fly-by-night outfit to obtain the rights to your annuities but to disappear or go bankrupt before paying you the buyout money. You may have to go to court to get a judge to approve the buyout. It is usually a good idea to consult with a lawyer before entering into an agreement to sell your settlement.

Special Considerations

Any person entering into a structured settlement should be on guard for potential exploitation in relation to the settlement:

Excessive Commissions - Annuities can be highly profitable for insurance companies, and they often carry very large commissions. It is important to ensure that the commissions charged in setting up a structured settlement don't consume an inappropriate percentage of its principal.

Overstated Value - Sometimes, after negotiating a particular settlement figure, the defense will overstate the value of a structured settlement. As a result the plaintiff, in accepting the settlement, in fact obtains a significantly lower dollar value than was agreed upon. Some defendants have nominally paid the full amount of the settlement, knowing that they would later obtain significant rebates from the annuity companies they used. Plaintiffs should consider compariing the fees and commissions charged for similar settlement packages by a variety of insurance companies, to make sure that they are in fact getting full value. A plaintiff may wish to make it a condition of the settlement that the defendant will actually pay the full value of the settlement in setting up the structured settlement, and that any rebates received by the defendant for annuities included in the settlement be payable to the plaintiff.

Self-Dealing - There have been cases where the plaintiff's lawyer is also in the insurance business, and sets up a structured settlement on behalf of a client without disclosing that the attorney is purchasing the annuities from his own business, or is pocketing a large commission on the annuities. Similarly, there have been situations where the plaintiff's attorney has referred the client to a particular financial planner to set up a structured settlement, without disclosing that the financial planner will be paying the attorney a referral fee in relation to the client's account. Make sure that you know what financial interest, if any, your lawyer has in relation to any financial services sold or recommended by the lawyer.

Life Expectancy - It is unfortunate, but many people who receive large personal injury or workers' compensation settlements will have a shortened life expectancy as a result of their injuries. It is important to consider life expectancy in association with any structured settlement, and to consider whether it is appropriate to enter into an annuity where payments will cease upon death. Sometimes it will make sense to insist upon an annuity that pays a minimum number of payments, or one that will pay a balance into the plaintiff's estate, such that the value of the settlement is not lost to an insurance company upon the plaintiff's untimely death.

Using Multiple Insurance Companies - For larger settlements, it often makes sense to purchase annuities for a structured settlement from several different companies, dividing the settlement between those companies. This can provide you with protection in the event that a company that issued annuities for your settlement package goes into bankruptcy - even in the event that one of the companies defaults in part or in full on your settlement payments, you would still receive full payment from the other companies.

How to Consolidate Your Bills

Introduction

Consolidating your bills is a great way to make monthly payments more efficient and less of a headache. By reducing the number of bills you pay on a regular basis, whether through debt consolidation, balance transfers, or simply a little reorganization, you'll be more likely to make all your payments by their due dates, saving you time and money.

Step 1: Eliminate Unnecessary Bills
It's possible that your bills can be combined or eliminated altogether.
Pay cash when you can. (Photo by Copernicus Johnson)Credit Cards
It's advised that the average person carry between 2 and 6 credit cards. While some experts recommend carrying multiple cards, you may not need as many as you're currently carrying.
To reduce the number of credit card bills you pay each month, cancel one or two accounts.
Cancel your newest account(s) to maintain the good credit history on your older cards!
Or transfer balances to a low rate card. You'll have only one bill, with less interest.
You can keep other accounts open for future purchases.
Store Charge Accounts
It's advised that individuals carry only one favorite store charge cards, since these cards typically have high interest rates and no rewards program.
Limiting your store charge accounts will reduce the bills you pay each month.
Avoid the temptation to open up new charge accounts, regardless of the incentives they may flash in front of you.
Again, consider transferring existing balances to lower rate credit cards to eliminate excess bills and pay less in interest over time.
Mobile Phone Bills
Consider switching to a family plan so that you only pay one bill each month for everyone's service. You'll eliminate all that extra paper, and probably save money, too.

Pay Cash
Not only will paying cash eliminate the bills that show up a month later, you might even save quite a bit in the process.
Many retailers have to pay a percentage of each sale to credit card companies. Since you paying cash can save them money, ask if they can pass that discount on to you, their loyal customer.
Carrying cash can also limit your spending—you see how much you're spending instead of "just charging it."
Pay in Larger Chunks
For bills like car insurance, you often have the option of paying a larger amount only two or three times a year. Doing so, if you can afford it, can make you eligible for a discount as well.

Step 2: Set Up Auto-Payments Online
Stop writing checks. (Photo by Jeinny Solis S.)Most banks have an online bill pay option, that will automatically deduct regular expenses from your savings or checking account. You can often set up automatic payment for other bills, linking them to a bank account or credit card. Not only is online bill pay faster, but it's also more secure and easier to monitor. Plus you're saving checks and postage!
Check in with your bank about automatic payments.
Also investigate what your options are for other monthly expenses (phone bill, credit card payments, student loans, etc.).
Be sure to keep a careful watch on what's going in and out, both for your financial safety and so you're aware of what you're spending.
If you have attached recurring bills to a credit card, make sure you don't rack up high balances without realizing it.
You're consolidating bills to save time and money, not to pay high interest rates!
If you set up automatic payments for your credit cards, schedule that at least the minimum amount due be deducted each month from your bank account. This way you avoid late payment fees, and the interest rate hikes associated with missed payments.

TIP: Speed up auto bill pay even more by using this easy Firefox method.

Step 3: Consolidate Existing Debt
Eliminating as many debt payments as possible will not only reduce the number of bills you have to pay each month—you'll be on track to pay down debt faster.
(Photo by Steve Woods)See Mahalo's guide to How to Consolidate Debt for information on reducing your debt load.
Be sure to read Bankrate's debt counseling advice before consolidating, particularly if your plan includes taking out a home equity loan.
If you're suffering from too many student loans, visit Mahalo's guide to How to Consolidate Student Loans.
Remember that student loan consolidation rates change every July, so be careful when you consolidate that type of debt.
You can consolidate credit card debt by transferring balances to the card with the lowest rate.
Carefully research any associated fees.
Remember that balance transfers won't solve existing debt, and they can negatively affect your credit score.
You may wish to seek out a professional debt adviser, such as one through the NFCC, the National Foundation for Credit Counseling, or the AICCCA, the Association of Independent Consumer Credit Counseling Agencies.

Additional Tips
Although these tips won't necessarily consolidate your bills, they will consolidate the time you spend paying them!
Try Changing Due Dates
Some creditors allow you to change your bills' due dates, which may make it easier to pay multiple bills at the same time.
Making due dates fall as closely together as possible will reduce the times you must sit at your desk writing checks.
Call creditors like your student loan administrator or your credit card company to see if you can change your due date.
Be sure to consider when you usually receive your paycheck, so you'll have enough in your account to cover all the bills by their deadlines.
Limit New Accounts
Think about the services you require and try to pare down the providers you use. Multiple accounts for movie rentals, department stores, or even newspaper subscriptions probably aren't necessary and eliminating them can make it less likely you'll overspend.
Conclusion
If you're able to consolidate your bills to a manageable degree, you should free up time to concentrate more fully on your budget. You may also find yourself enjoying extra money each month as the result of on-time payments, or other bill pay incentives. More than anything, consolidating bills will help you get a better sense of where all your money goes each month, letting you concentrate on how you might save more in certain areas. Plus you can enjoy the time you would otherwise spend writing checks and mailing bills!
If you think you need more advice on how to reduce your debt load through consolidation, please visit Mahalo's guide to how to consolidate debt. There you will find counsel on the ins and outs of the procedure, from refinancing options to finding a credit counselor.

How to Find a Secured Loan Calculator

Introduction
A secured loan is a loan backed by the borrower's collateral; the collateral is forfeited to the lender if the borrower cannot pay the loan. Secured loan calculators help borrowers estimate the monthly cost and interest of a loan so they can decide if they'll be able to make loan payments and what terms will be best for their finances.
Step 1: About Secured Loan Calculators
While all online secured loan calculators are not created equally, you should be able to enter basic information on all of them, such as:
(Photo by Mahalo)The loan amount.
The total amount of money you will borrow.
The repayment period.
Also known as the term of the loan or the life of the loan, this is the number of months or years you have to pay off the loan.
The interest rate.
The exact interest rate on your loan.

Step 2: Check Your Loan Provider's Website
Often your potential lender (the bank or lending institution) will have a secured loan calculator available on their website.
Step 3: Search Online
If your loan provider does not have secured loan calculator, you can do an online search.

Conclusion
Use one of the many online secured loan calculators to estimate your monthly loan payments and determine which loan will offer you the best deal. Unsure how to use a loan calculator?

How to Purchase Structured Settlements?

There are many legal requirements and restrictions that affect who can buy structured settlements, so if you are interested in purchasing a structured settlement, you will want to work with a company who matches structured settlements with investors.

What are Structured Settlements?
When law suits are settled, damages may be awarded in a lump sum, or a series of payments. A settlement which is awarded in a series of payments over time is called a structured settlement. Structured settlements are generally created by using a third party intermediary to provide the financing.

How to Purchase Structured Settlements?
State and federal law may restrict the sale of structured settlements, and there are many legal complications that can arise. Since you'll be exchanging cash for the right to receive future payments, you'll want to make sure that you are protected.
Work with an established broker.
Look for a structured settlement financing company who is a member of the National Structured Settlements Trade Association who also places settlements with private investors.
Get multiple quotes to ensure you get the best deal.
Retain an attorney to review the agreement to ensure your interests are protected.

How is My Federal Consolidation Interest Rate Calculated?

So you’re getting ready to consolidate and are wondering what your interest rate will be. That’s certainly a fair question. I mean, when you go out to dinner you don’t pay for your meal before you eat it. You make sure you get what you ordered, that is tastes good, and that the temperature is to your liking. Then, at the end of the meal, you take out your credit card and sign on the dotted line.

Why should things be any different in the consolidation world? Don’t sign and then ask questions later. Get the answers you need up front.Here is an interesting federal consolidation fact. Ten students who graduate from the same university this May could very well have ten different interest rates. But how can this happen?Unlike in other financial circles federal consolidation interest rates are not tied to one thing in particular, like the Fed Funds Rate.

To arrive at your fixed interest rate the consolidation company simply takes the weighted average of all your loans. They look at the interest rate and the amount of each loan, then round up to the nearest eighth percent.Nowadays undergraduate students are coming out with rates ranging from 3.61% to 6.8%, and end up consolidating for about 5-6%. A lot of grad students carry grad plus loans at 8.5%, which elevates their fixed amount.

Consolidating Private Student Loans

I will give you information on Consolidating Private Student Loans.Private student loan consolidation is a great way to significantly lower your monthly loan payments by combining all your private student loans into one manageable loan. Private student loan consolidation reduces the stress of multiple payments, and allows you to budget accordingly to meet your payment as well as lowering your interest rate.

Other Benefits of Consolidating Private Student Loans :

• Lower Monthly Payments: With private student loan consolidation, most borrowers can reduce their monthly payment by extending the repayment term of their private student loan debt.
• Reduced Interest Rates: Borrowers with improved credit may often lower their interest rate. Existing loan holders will not reduce your interest rate if your credit has improved.
• Rate Reductions: Borrowers may apply on their own or with a credit-worthy co-signer for private student loan consolidation. Borrower and Co-signers with superior credit may receive lower APR loans.
• Internship/Residency & Military Deferment: A 48 month deferment for medical/dental residents and a 36 month deferment for all active-duty military personnel is available through the Graduate Leverage Private Student Loan Consolidation Program.
• Repayment Term: Undergraduate borrowers may receive up to a 25 year repayment term which offers the lowest possible monthly payment, and graduate student borrowers may receive up to a 30 year repayment term.
• No Prepayment Penalties: All payments in excess of scheduled payments go directly to principal.

Mesothelioma Lawsuit History

There is a long history of lawsuits related to mesothelioma. The first mesothelioma-related asbestos lawsuit was filed in the United States in 1966. Although this case was lost, another mesothelioma lawsuit was filed immediately for a co-worker of the first plaintiff. This landmark case was won, and the plaintiff was awarded $80,000.

Further mesothelioma lawsuits were filed during the succeeding years. The conspiracy to hide the dangers of asbestos from employees began to unravel, and fraud of massive proportions was uncovered. Executives and managers knew of the link between mesothelioma and asbestos for many years but purposely hid these dangers from their employees.

Mesothelioma Fraud and Conspiracy

In 1978, a deposition was taken in which an asbestos plant manager divulged that the policy in the company was not to discuss chest findings or other medical results suggesting a relationship between asbestosis or mesothelioma. It was known as the "hush hush" policy. During this time a number of documents emerged clearly demonstrating fraud and conspiracy. The documents showed that as early as the 1930s, companies had made direct efforts to hide the hazards of asbestos.

Since fraud and conspiracy were clearly part of the strategy of these companies, the extent and latitude of the mesothelioma litigation took on a new perspective. The plaintiffs could expect to receive much larger sums from the mesothelioma lawsuits due to the punitive nature of the verdicts.

Now many of the asbestos companies have declared bankruptcy, but the courts have set aside sums of money for persons who have been damaged by the fraud and conspiracy surrounding this deadly disease.



Increase in Cases

The court systems have seen a steady rise in the number of cases brought before them for mesothelioma litigation. Since 1994, this area of law has doubled the amount of civil lawsuits on the court docket. The claims have also increased each year for mesothelioma litigation.

Mesothelioma litigation falls under the category of asbestos litigation. Malignant mesothelioma is a rare cancer whose only known cause is asbestos exposure. Asbestos litigation involves all the different kind of injuries incurred as a result of asbestos exposure.

Asbestos was one of the first airborne contaminants to be regulated as part of the Clean Air Act in 1970. Product manufacturers knew the health hazards associated with asbestos exposure long before the harmful mineral was regulated; as far back as the 1930's. In fact the ancient Romans and Greeks also recognized that asbestos caused lung disease. Asbestos product manufacturers around the world refused to protect their consumers or employees, despite overwhelming evidence of asbestos hazards presented over the years. It has made such companies liable for any asbestos-related health problems caused as a result of their actions to hide their knowledge, and inactions in taking measures to protect workers and consumers.

There has been a steep rise in asbestos litigation in the last thirty years, allowing lawyers and firms to specialize exclusively in asbestos-related cases. Asbestos litigation is premised upon the liability of manufacturers of asbestos and asbestos products, for the harm caused by exposure to these products. It was once thought that asbestos litigation had peaked, but because thirty or more years can pass before the asbestos-related diseases manifest a large number of new cases are filed each year.

Asbestos litigation falls into a category of tort law (civil law) because it provides a remedy to parties injured as a result of asbestos exposure. A law firm or attorney associated with this type of litigation must have an expert understanding of asbestos and asbestos-related diseases. The must be able to discuss in great detail the medical aspects of the case in court, often cross examining doctors. Due to the long latency period between asbestos exposure and contraction of asbestos-related diseases, claimants are often unsure of when, where, and how they came in contact with this dangerous fibrous mineral. Asbestos lawyers are responsible for pinpointing the source of the exposure and bringing all liable parties to account.

Mesothelioma lawsuits are part of asbestos litigation that began shortly after asbestos was regulated in 1970. These lawsuits provided a way for sufferers of mesothelioma, asbestosis and other diseases to receive compensation from the parties responsible for their asbestos illness.

An attorney handling a mesothelioma lawsuit case is a specialized asbestos lawyer whose focus is mesothelioma litigation. They must show a link between asbestos exposure and an injury suffered by the victim. Mesothelioma lawyers help determine all parties liable for contracting malignant mesothelioma in addition to locating the source of asbestos exposure. This is a difficult task considering the fact that malignant mesothelioma is a disease that can take anywhere from 30 to 50 years to develop and become symptomatic.

Lawsuit Compensation

A number of factors determine the amount of mesothelioma compensation, some of which include medical expenses incurred, pain and suffering, lost wages, state law, and the parties responsible for putting the workers at risk. Studies concluded the eventual cost of litigation would exceed 200 billion dollars in the United States. Settlements out of court are often made to avoid the possibility of high mesothelioma compensation rulings and these settlements often run into the millions of dollars.

Many in the legal industry believe that a global settlement model is needed to ensure future mesothelioma claimants are able to receive compensation for their suffering. Before 2006 Congress was considering the Fairness in Asbestos Injury Resolution Act (FAIR), legislation prompting the establishment of a 140 billion dollars mesothelioma compensation trust through which victims receive resolution for their pain and suffering. The FAIR act evolved from previous attempts at setting up a trust fund, all of which failed due to the inability of defendant corporations, insurance companies, and claimant attorneys to reach an acceptable compensation structure. Unfortunately the FAIR act failed to get anywhere in Congress. As of May 2008 there are no ongoing attempts to remedy this situation.

History of Auctions

It seems that auctions have touched almost every century, every industry and every nationality – this list I gave you was just a small sample. Auctions date back so far in history, that no one really knows for sure how they started or who started them.

The First Auctions

Records handed down from ancient Greek scribes document auctions occurring as far back as 500 B.C. At that time, women were auctioned off as wives. And, in fact, it was considered illegal to allow a daughter to be "sold" outside the auction method.
A "descending" method was used for these auctions, starting with a high price and going lower until the first person to bid was the purchaser, as long as the minimum price set by the seller was met. The buyer could get a return of money if he and his new spouse did not get along well, but unlike a horse, maidens could not be "tried" before auction.


Women with special beauty were subject to the most vigorous bidding and the prices paid were high. Owners of the less attractive women had to add dowries or other monetary offers in order to make the sale.
In Rome, Italy, around the time of Christ, auctions were popular for family estates and to sell war plunder. Roman Emperor and philosopher Marcus Aurelius sold family furniture at auctions, for months, to satisfy debts.
Roman soldiers sold war plunder at auction. The licensed auctioneer, called "Magister Auctionarium," drove a spear into the ground to start the auction. Today we use an auction gavel.


Auctions Come to America

American auctions date back to the Pilgrims' arrival on America's Eastern Shores in the 1600s and continued in popularity during colonization with the sale of crops, imports, clapboard, livestock, tools, tobacco, slaves and even entire farms. Selling at auction was the fastest and most efficient means to convert assets into cash.
Fur was especially big during this time. In his book, "Going, Going, Gone!," Bellamy Partridge says "the Bible and the beaver were the mainstays of the Pilgrims, the Good Book saving their souls and the beaver paying their bills."
Initially, the furs were collected from Native Americans in the fall and winter, utilizing the "private treaty" method of exchange for "wampum" (the Native American word which meant money). The raw pelts (or hides) were transported to the closest shipping port. In the spring of each year, the auction method was used to sell the raw peltries to the European merchants who arranged the transcontinental voyage to the Old World. Once the ships returned to the port in Europe, the peltries were auctioned to manufacturers, who would process them for the retail market. The early fur trade was chiefly responsible for the settlement and development of North America.