FAQ’s
faqs
Fortress Funding is a market leader in providing a genuine marketplace for the purchase and sale of structured settlement payments and other annuities in every state. If you choose to sell, you have the peace of mind that Fortress Funding is the most experienced and respected in the industry to complete your sale and get you your money in the fastest time permitted by law.
Fortress Funding provides quotes on structured settlement and other insurance annuity payments. Specifically, we can quote your payments if they are paid to you: From an insurance company As a result of a lawsuit or insurance settlement Either guaranteed or life contingent payments Not as a result of a workers compensation claim We do not provide quotes on: Workers compensation payments Payments due to a minor child Pensions Social security payments TIAA CREF payments Mortgages Viatical settlements VA disability or pension Other disability payments
A structured settlement annuity is a contract issued by an insurance company to fund the payment of damages for personal injury over a period of time. It is sometimes referred to as an insurance settlement. It guarantees you in the event of your death, your beneficiary, a tax free payment or a series of payments over a fixed period of time. Most structured settlements are the result of a lawsuit—they are payments resulting from a court action.
Yes. You can sell your structured settlement or insurance settlement payments. Most states have a Structured Settlement Protection Act. These laws allow you to sell your payments if the following requirements are met: You must be given full disclosure about the financial terms of your sale. You have a “cooling off period” after you sign documents to change your mind and cancel the sale. You must be advised in writing to seek independent professional advice regarding your sale. In some states you can choose to waive the advice. A hearing is held where a judge considers your case and decides whether to approve the sale. The judge will examine your financial situation, what you want to do with the money and whether it is in your best interests to sell payments. The judge must issue a court order approving the sale.
Anti-assignment or anti-sale language does not prevent you from selling your payments. Some settlement agreement or annuity policies contain anti-sale or anti-assignment wording such as: “none of the periodic payments may be accelerated, deferred, increased or decreased and may not be anticipated, sold, assigned or encumbered.” Since you must get a court order approving the sale of your payments, a judge will review and evaluate your case. Judges have the power to approve the sale, even if there is language in your settlement agreement or structured settlement annuity policy that attempts to prevent you from selling your payments.
If you only sell some of your payments your insurance company will continue to pay you the payments you still own as and when those payments are due.
Yes. If you have sold some of your structured settlement payments in the past you can sell any remaining payments to which you are still a payee. Want to know how much your payments are worth? Call us now at (877) 386-3377 to get a set of guaranteed price offers on your payments in minutes!
We can quote on your payments even if you are in bankruptcy proceedings and have not yet been discharged. If you are in bankruptcy proceedings you will need to let us know prior to having your case quoted so that we may speak to your trustee in bankruptcy or legal representative to obtain additional facts. We reserve the right to deduct a fee for additional work in processing cases that have not yet been discharged from a bankruptcy.
You do not give up any rights when selling a structured settlement until the transaction is completed and you are fully paid the selling price. Furthermore, your case is protected by the court and a judge’s order requires the funding company to perform its obligations. You are fully protected.
Fortress Funding does not offer quotes to annuitants who are minor children because those persons do not have legal capacity to sell their payments without the intervention of a litigation or personal property guardian.
It is not legal for you to sell structured settlement annuities arising from workers compensation claims. You must keep the annuity until all of the payments are made to you.
To start the quoting process, go online here and input your payment amounts, dates and insurance company. The more information you enter the more complete and accurate a quote can be provided, or contact one of our customer service experts at 1-(877) 386-3377 and he or she can assist with inputting the information necessary for a quote to buy all or a portion of your payments. In this case you will receive your price by telephone from one of our account executive experts.
Yes. The price quotes you receive are guaranteed offers to buy your structured settlement payments. We guarantee: You get the best price from Fortress Funding without the hassle of haggling. You will get your guaranteed price quote fast—in minutes!!
Each offer provided by Fortress Funding is open for acceptance for a period of 5 business days. To accept just contact your account executive at (877) 386-3377.
You will receive as many quotes as you may need to get you the exact amount of money necessary to take care of your financial needs.
You should not indicate your acceptance of an offer until you are sure you want to proceed with the sale. However, even if you do accept and receive sale documents, there is generally a “cooling off” period in which you may change your mind and cancel the transaction. The cooling off time period is clearly stated on either the Disclosure Statement or Sale and Assignment Agreement you receive as part of the sale documentation.
At Fortress Funding we understand that your financial goals depend on completing your sale transaction and getting paid in the fastest time permitted by law. Once you have accepted an offer and confirm that you want to proceed with the sale Fortress Funding immediately starts the sale process as follows: Legal Documents within 24 hours—you will receive your legal documents from Fortress Funding within 24 hours by Fedex, UPS or USPS and in as little as 2 hours if you choose to receive them by email or fax. Court Process within as little as 30 days—Fortress Funding will complete the mandatory court process as soon as legally permitted. This could mean as little as 30 days depending on the State. Immediate Access to your Money—you get paid your money by direct wire transfer of immediately available funds into a bank account of your choice upon completion of the legal and underwriting process. Expected time to completion—From price quote to funding the entire transfer process can take as little as 6 weeks, depending on the State in which you reside.
Fortress Funding processes your structured settlement sale transaction at no cost to you. In the unlikely event your sale is not completed for whatever reason: You will not be charged any fee or penalty by Fortress Funding. This promise is set out in writing on the sale documentation you receive. You will be entitled to receive all of the annuity payments you had contracted to sell as and when they fall due. Your insurance company will continue to pay you all future payments as if you had never entered a transaction to sell. You will not have any further obligation to Fortress Funding.