Required Reading
- Disadvantages Of Keeping a Structured Settlement
- Get Cash For Structured Settlements
- FAQ's On Structured Settlements
- Structured Settlement Present Value
- Settlement Phrases To Know
Structured News
Structured Settlement Federal Tax Info Links
- IRS Structured Settlement Factoring Article
- IRS Tax Reported on: For transactions that do not meet the conditions for exemption
Did You Know?
Money in the future is worth less than money today.
To think of it in simple terms, if you loaned a person $1000 today and they said they would return the $1000 in 10 years. You lose all the value of today's money and future interest if you invested the $1000 in your savings account over the same 10 years. Also inflation and prices of almost everything increases in 10 years. There is also the risk if the person will pay it back and on time.
So you would not be able to buy as much with that $1000 that would be returned in 10 years. So $25,000 paid in 50 payments of $500 per month for next 4 years, may be worth today $18,506.44 +- or less. There is also the un measurable factor of "Needing a large amount of money now". To get super technical if your up for it you can read an economics presentation outline from the University of Wisconsin with examples of present value and the value of money. Read More >
Do you have a structured settlement? Are you set to receive future payments for a lawsuit settlement? If so, you may be able to sell your future payments and get a large amount of cash for the payments. Get started >
Sell Your Future Settlement Payments For CASH
< Go Back Structured Settlement Guide For South CarolinaBelow is local South Carolina information related to courts, and structured settlement topics. You may have to visit or phone call a local South Carolina courthouse when working with your structured settlement.
South Carolina Settlement News
South Carolina City Court PagesClick to go to Site: South Carolina Main Court Pages
Structured Settlement South Carolina State LawsSECTION 15-50-40. Direct or indirect transfer of payment rights; approval by final court order. [SC ST SEC 15-50-40] A direct or indirect transfer of structured settlement payment rights is not effective and a structured settlement obligor or annuity issuer is not required to make a payment directly or indirectly to a transferee of structured settlement payment rights unless the transfer has been approved in advance in a final court order based on express findings by the court that the: (1) transfer is in the best interests of the payee, taking into account the welfare and support of the payee's dependents; (2) payee has been advised in writing by the transferee to seek independent professional advice regarding the transfer or knowingly and in writing has waived receipt of that advice; and (3) transfer does not contravene an applicable statute or the order of any court or other government authority. SECTION 15-50-50. Rights and obligations of structured settlement obligor, annuity issuer and transferee. [SC ST SEC 15-50-50] Following a transfer of structured settlement payment rights pursuant to this chapter: (1) the structured settlement obligor and the annuity issuer, as to all parties except the transferee, are discharged and released from liability for the transferred payments; and (2) the transferee is liable to the structured settlement obligor and the annuity issuer: (a) for taxes incurred by the parties as a consequence of the transfer if the transfer contravenes the terms of the structured settlement; and (b) for other liabilities or costs, including reasonable costs and attorney's fees, arising from compliance by the parties with the order of the court or arising as a consequence of the transferee's failure to comply with this chapter; (3) neither the annuity issuer nor the structured settlement obligor is required to divide a periodic payment between the payee and any transferee or assignee or between two or more transferees or assignees; and (4) any further transfer of structured settlement payment rights by the payee may be made only after compliance with all the requirements of this chapter... * See more and actual structured settlement statutes at South Carolina State government law site pages
SC Help Sites Structured Settlement Related Issues
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