Connect with us

Top 10

Can I Sell My Structured Settlement Funds for Instant Cash?



Structured settlements are a great way to settle legal disputes without the fuss. Settlement loans and other settlement funding is growing popular these days. You should know that these settlements are carefully regulated by federal laws.

So, it’s important that you go about it the right way if you want to sell these funds. Some states that follow the Structured Settlement Protection Acts protect you from buyers. This is why it’s usually safe to sell your settlement loans in most cases.

Not everyone owning a structured settlement knows that they can sell it for instant cash. After all, it’s not as common a practice as you would expect it to be. If you wish to sell your settlement funds, we have some tips for you.

Let’s discuss how you can sell your structured settlement funds for instant cash in the right way.

Determine the Worth of Your Structured Settlement

If you’ve opted for a structured settlement over a period, you’ll receive your money in installments. In most cases, people opt for lump sums and receive a large amount at a specified date. But, you can also opt for a structured settlement instead to an interested buyer.

The buyer can give you a structured settlement advance before the sale is approved by a judge. The advantage of this advance is that you don’t have to pay it back if the court doesn’t approve the settlement. This is why more people are now opting to sell their structured settlements for cash.

Before you consider selling it, first determine the worth of your structured settlement. In most cases, the settlement is the present value of your contract. But, it’s not the amount you’ll be receiving for your payments. So, it’s important that you learn the difference between these amounts.

A factoring company calculates the value of your structured settlement the right way. They do this by considering the present value of the future settlement payments. Then, they subtract the growth potential the company will lose by not having access to the money.

This leads to the calculation of a discount rate for the payments. This rate accounts for the inherent risk associated with the money they’ll receive. Often, this discount rate falls between 9% and 18%. The factoring company also considers other factors when valuing your pre settlement advance.

These factors include the number and dates of the settlement payments to be made. They also include economic conditions and current market rates. A factoring company will also consider the fees associated with selling your settlement.

You can use online settlement calculators to determine the present value. But, these calculators don’t consider the specific terms of your contract.

The Process of Selling Your Structured Settlement

After determining the worth of your settlement, it’s time to think about selling it. But first, consider if your state laws permit the sale of structured settlements. If your state allows it, you can start looking for options to sell the settlement.

You’ll have many options to sell your settlement for the right price. Structured settlement payments are tax-free and income doesn’t affect your eligibility here.

Even so, it’s not advisable to sell your settlement for settlement cash advances unless you need to. But, if you need to, you would first need to reach out to a factoring company or settlement buyers. You can then agree on the terms and conditions of the sale.

You’ll have the option to sell the entire settlement or receive a small advance. You can opt for either depending on if you need instant cash payments. You can even choose to receive a few payments first then get back to your original payment schedule.

You can contact a buyer directly and agree on the terms of the structured settlement sale. Large buyers will consider your financial needs, etc. before paying you in cash. After liaising with the buyer, it’s time to approach the court for a settlement review.

A judge will decide if your settlement can be sold to a third-party buyer or not. You can only go ahead with the sale if the judge gives their explicit approval for the same. It can take anywhere between one and two months for you to receive this approval.

The Benefits of Selling Structured Settlements

Sometimes, it might seem like an inconvenience to receive structured settlement payouts. This is because approaching a buyer and getting court approval for the sale can take time. So, in a sense, selling these settlements won’t get you cash right away.

You’ll receive cash quicker by selling them rather than following the payment schedule. This cash can come handy in emergencies if you’re facing financial difficulties. Structured settlements are great for those that want the money for long-term investments.

This is why many people prefer them over lump sums for their settlement payments. But, it’s possible to have both structured settlement payments and instant cash. You can receive cash as an advanced settlement payment by selling it to a buyer. Then, you can go back to following your original payment schedule.

This would allow you to receive instant cash while also spreading out your payments. A factoring company can buy some of the structured settlement installments from you. This would allow you the access you need to instant funds.

Or, if you need the entire amount of the settlement, that’s possible as well. You can sell the settlement to a factoring company and they’ll pay you the entire value in cash. They would then receive the total amount of the settlement from the insurance firm.

So, you won’t be involved in the settlement once you sell the whole thing to your buyer.


These are some important things to remember before you sell your structured settlement. Sure, it’s useful to sell some or all the settlement amount for a cash sum. But, remember that it’s sometimes better to receive payments in installments.

This would allow you to be more careful with spending your money. It’s also useful for those wanting to make long-term investments. You should opt to sell your settlement only if you need the cash right away. Even then, remember that it could take you a month or two to get the cash in hand.


How financial services organisations can harness the power of low-code/no-code




By Joman Kwong, Strategic Solutions Manager, Financial, at Laserfiche


The UK’s erratic economy, and its spiralling cost-of-living crisis, have amplified consumer demand for personal finance and wealth management support. And with financial customers growing ever more tech-savvy, it’s not just the monetary services themselves that are under the spotlight, but their digital methods of delivery, too.

Today, an estimated 64% of Britons believe digital processes — like remote account opening, online banking or mobile apps are important factors in deciding what financial institutions they do business with. And as sleek, intuitive digital experiences like the Netflix homepage fast become the norm, customers now expect similar ease of use, personalisation, and automation from their financial services. Finance is an industry which, perhaps more than any other, needs to radiate trust, safety, and simplicity. So, businesses’ processes and user experiences (UX) must be modernised to reflect this—otherwise, they risk current and prospective customers turning elsewhere.

In the past, wealth management and personal finance companies would’ve faced costly, time-intensive coding projects to upgrade their digital services. Traditional ways of developing technology applications can take several months — for testing, debugging and deploying organization-wide. This can seem overwhelming or even impossible for many organizations that have limited or strained IT resources. A recent survey of financial advisors conducted by Laserfiche found that the top three challenges to changing workflow processes were competing priorities (52%), uncertainty on where to start (35%), and lack of bandwidth (30%). So, how can firms keep pace with technology needs, while continuing to provide high-quality client services?

The recent emergence of low-code and no-code tools now mean that even employees with little knowledge of programming can make impactful changes to online banking processes. So, let’s explore the power of ‘low code/no code’ in more detail — and how finance companies can harness its power to create cutting-edge, ultra-efficient user experiences today.

What is low code/no code?

Simply, a low-code/no-code platform provides tools that empower individuals or teams to create and deploy electronic forms, automate workflows or integrate technology applications with little to no IT or programming support.

With drag-and-drop toolkits and prebuilt process templates, firms can digitize and automate processes like opening new accounts, money movement, or gathering information to complete a financial plan within a matter of hours. Low-code and no-code tools also support back-office process transformation projects, which can provide additional significant time and cost savings.

According to Forrester, low-code platforms have the potential to speed up software development by as much as 10 times when compared to traditional coding methods. After all, they not only minimise the need to code applications from scratch, but also the need to re-programme basic functionalities and back-end infrastructure by reusing pre-approved foundations. And perhaps most importantly, they free up precious IT resources to focus on more challenging, strategic projects and upgrades.

Low-code/no-code fosters agility for organisations within any industry. But for financial services, in which tough regulations and customer needs are evolving perhaps faster than ever, it allows businesses to safely respond to changes not within weeks or months, but mere days. By leveraging low-code/no-code tools, finance companies can act far faster than competitors — and earn more customers as a result.

A Low-Code/No-Code Approach to End-to-End Solutions

Though low-code and no-code platforms are commonly used for building automated solutions to customers’ pain points, their power extends beyond individual workflows. Leading low-code and no-code platforms can also support integrations using services such as integration-platform-as-a-service (iPaaS), which can significantly boost productivity and accelerate response to customer needs. Firms can leverage iPaaS prebuilt connectors to quickly orchestrate integration flows between line of business applications such as ECM, CRM, ERP, payment processing systems and more — rather than using the months of IT time normally required to deploy these types of solutions.

Integrating multiple platforms and data sources can ultimately unlock insights that inform firms’ strategic decisions, driving new and innovative solutions and customer experiences. For example, by integrating a firm’s CRM, ECM and customer service tools, employees can get a holistic view of their customers, and pinpoint areas of the customer journey that fail to meet expectations, such as a heavy visitor drop-off on an investment calculator tool. The firm can then address these issues by re-engineering the investment calculator process, and continue to monitor, personalise, and improve the wider customer experience.

Considerations for leverage low-code and no-code tools

While the promise of low-code/no-code has many organisations exploring this new frontier of application development, not all vendors providing low-code/no-code solutions are created equal. Firms seeking out these technologies should be aware of key considerations:

  • Financial services experience: Operating in the wealth management industry requires expert-level compliance literacy. Vendors should have a deep knowledge of SEC and FINRA requirements, and a demonstrated commitment to data security and privacy.
  • Ease of use: The term “low-code” casts a wide net. Technology platforms that provide intuitive experiences — such as downloadable prebuilt templates and drag-and-drop tools — provide the most value to firms looking to deploy automated solutions quickly, speed adoption and achieve fast ROI.
  • Customizability: Tech vendors should provide flexibility within their solutions to allow users to easily configure solutions to fit specific organizational needs.
  • Scalability: Vendors with a cloud-first development approach will provide more agility and scalability, essential for firms looking to grow and navigate change.

Is low-code/no-code the future?

Some might perceive the leveraging of low code and no code to be a little restrictive when compared to a bottom-up coding approach. But with the right platform, the possibilities of what can be built are almost limitless. Some platforms even host solution marketplaces, in which creators can share the solutions they’ve built, and others can download these pre-built templates to kick-start improvements even faster.

With so many advantages, it’s perhaps no surprise that analyst firm Gartner predicts by 2025, “70% of new applications developed by organisations will use low-code or no-code technologies, up from less than 25% in 2020.” As budgets shrink and digital expectations grow, low-code/no-code might just be the answer for financial services companies looking to remain safe and successful throughout the looming recession.

Continue Reading

Top 10

The power of a proactive customer service




By Delia Pedersoli, COO, MultiPay


2023 is shaping up to be another challenging period for B2C businesses. While the disruption of the Covid-19 pandemic has for now largely disappeared, new challenges like the cost-of-living crisis have arrived. As economic uncertainty impacts every consumer business from retail to travel and leisure experiences, service providers and suppliers must double down on their customer service to help clients through these challenging times. One area of customer service that is particularly important – and often overlooked – is proactivity.

A move to a more proactive customer service approach should not come at the expense of reactive measures. Regardless of how well-prepared customer service teams are and how detailed processes are, there will always be unforeseen and unexpected issues that need to be addressed. But by working in tandem, B2B service providers can deliver the service that customers now expect.

In recent years, the landscape has changed. Customers expect proactivity and for suppliers to understand what they want. Data from Salesforce that covered both consumers and business customers identified that two-thirds of respondents expect the suppliers they buy from to understand their needs and expectations. Not only this, but those that do take a proactive approach to customer service see a full point increase in their NPS.

Delivering a first-class proactive customer service is therefore a key requirement for businesses wanting to build and develop long-term relationships with their customers. However, for many businesses, it can be hard to know what to focus on and improve to attain the proactivity required. At MultiPay we have made proactivity a core part of our customer service, which has allowed us to identify several important factors.

A proactive process

Delia Pedersoli

The first area to focus on is getting close to customers. The more you know about a customer, how their business works, what the goals are and where there are challenges all helps in identifying areas to support with a proactive customer service. A good method to structure these insights is to conduct a SWOT analysis. Knowing the strengths, weaknesses, threats, and opportunities of a client helps identify areas that may need support soon. On top of this, it is important to invest time in speaking with clients. Not only will this help with the SWOT, but it can also highlight areas for operational improvements. Speaking with people from across the business allows you to truly get under its skin.

Knowledge is power when it comes to enhancing the proactivity of customer service. In addition to getting under the skin of a business, it is also important to understand its industry inside and out. Staying on top of key trends, themes, and issues affecting a client’s industry and sector helps with remaining on the front foot. Recently at MultiPay, we experienced a scenario that brought this home, working with one of Europe’s largest tourism operators, The Travel Corporation (TTC) which needed to bounce back quickly following the Covid-19 pandemic. With consumers excited to travel again, TTC needed a customer service and payments solution that could quickly scale and support its on-the-move workforce of travel directors. Working closely with TTC’s team along with monitoring the news and industry trends like the lifting of travel restrictions we were able to be proactive in scaling up operations in anticipation of key markets reopening. Staying ahead of the curve meant we were prepared to deliver new or replacement payment terminals at very short notice to travel directors anywhere in Europe. As a result, we eliminated the risk of downtime and loss of earnings that TTC could have suffered if there had been delays.

Planning for success

In addition to knowing a client’s business and their sector inside and out, it is also important to remember that no two businesses are ever the same. While some tactics and strategies may work for one, they may not translate to another. By getting to know clients, customer service can be tailored to them and their unique needs. Working with TTC for example, we learnt that its travel directors when out in the field, often lack an internet connection. Consequently, they needed to be highly self-sufficient. To achieve this, we developed a bespoke handbook that provided a step-by-step guide to setting up payment devices and solving common issues. On top of this, a dedicated hotline was launched, allowing travel directors to quickly gain help if needed when they did have connectivity. Taking the time to develop tailor-made services specific to TTC and its travel directors, helped provide the agility the business needed and removed pressure from TTC’s internal team.

Of course, before developing a user guide or establishing a hotline a plan needs to be created. Taking the time to meticulously map out the strategy and tactics to support a business is key. Factoring known events or challenges into a plan is vital in getting ahead of them. For instance, as well as navigating the reopening of travel destinations, our work with TTC also meant we had to work around the global chip shortage causing delays in device deliveries. To plan around this, we purposefully pre-ordered additional handsets that could be kept on standby. Then when a request for a new terminal came in, we didn’t have to let the client experience the delays caused by the chip shortage. In doing so we could ensure a smooth flow of devices to travel directors.

With so much uncertainty in the world currently, there has never been more of a need for proactive customer services from B2B suppliers. By building up a knowledge basis of a client’s business, their industry, and then planning and tailoring approaches accordingly, B2B suppliers can help their customers thrive in 2023 while also emerging as true partners. When uncertainty hits as much as we are now seeing, planning, and proactively become more important than ever.

Continue Reading



Business14 hours ago

Ransomware chokes COBRA: How AI-powered data analysis can support financial services’ plight

By Toby Butler, Financial Crime Solutions Manager at Ripjar   Ransomware attacks are on the increase in the United Kingdom....

Banking21 hours ago

How Banks Can Boost App Innovation, Speed and Compliance

Steve Barrett, Senior Vice President of International Operations, Delphix  As new finance and banking applications disrupt the market each day,...

Business21 hours ago


AREX Markets, the data-driven FinTech company that drives financing costs down for SMEs and enables them to get paid quicker, has...

News21 hours ago

ICICI Lombard and AU Small Finance Bank announce Bancassurance tie-up

ICICI Lombard General Insurance, India’s leading private sector non-life insurance company, is entering into a Bancassurance tie-up with AU Small Finance Bank....

Finance21 hours ago

Crypto’s tipping point

Chris George, Senior VP of Product at Somo argues that Crypto needs to improve its scalability to be taken seriously Cryptocurrencies are...

Business4 days ago

Why Procurement is key in delivering your ESG strategy

By Edward Cox, Principal at Efficio Consulting   Environmental, social, and governance (ESG) has shifted from a niche to a...

Finance4 days ago

Skedadle to change the game for advertising with Currencycloud partnership

Currencycloud, the experts simplifying business in a multi-currency world, has partnered with Scottish start-up app Skedadle to provide its users...

Finance4 days ago

How financial services organisations can harness the power of low-code/no-code

By Joman Kwong, Strategic Solutions Manager, Financial, at Laserfiche   The UK’s erratic economy, and its spiralling cost-of-living crisis, have...

Finance4 days ago

SaaScada Top Five Predictions for 2023

From BNPL for business, to sustainability and financial inclusion, 2023 is going to be a year of change as the...

Business6 days ago

Hidden channel costs: how to find and tackle them

By Mark Wass, Strategic Sales Director, UK and North EMEA at CloudBlue     Growth for businesses will always be a...

Finance6 days ago

Is your business ready for finance automation?

Mari-Frances Bentvelzen, Business Head and General Manager of Global SMB at SAP Concur   As managers continue to drive their...

Top 106 days ago

The power of a proactive customer service

By Delia Pedersoli, COO, MultiPay   2023 is shaping up to be another challenging period for B2C businesses. While the...

Business6 days ago

Automation nation: Liberating workers from desks, data entry and the doldrums

Gert-Jan Wijman, VP of EMEA at Celigo.   Just when businesses thought the tough times were over, even more challenges...

News6 days ago

Protean and Fino Payments Bank tie-up to expand PAN card issuance services in India

Fino Payments Bank has tied up with Protean eGov Technologies (formerly NSDL e-Governance Infrastructure Limited), a market leader in universal,...

Business6 days ago

What is the True Cost of SMS Phishing?

Gemma Staite, Threat Analytics Lead   Cybercriminals will recycle attack strategies for as long as they are effective. In Fraud...

Technology7 days ago

Digital Asset Management (DAM) To Transform Enterprise Brand Management

Alexander Rich, Co-founder and CEO – Desygner    Rapid digital transformation fuelled by the pandemic has undoubtedly proven beneficial to...

Finance7 days ago

Cost of living: How to identify vulnerable customers

Ellie Engley is account director at REaD Group   In the current climate, the cost of living crisis is a...

Banking7 days ago

Is traditional business banking the best option for SME finance squeezes?

Airto Vienola, CEO, AREX Markets  The pressures facing business and personal finances alike have been well documented. Stories are now starting...

Business7 days ago

Breaking down communications silos to streamline the customer experience

Dave Tidwell, Head of Technical Pre-sales, DigitalWell   The pandemic has, without doubt, moved the goalposts when it comes to...

Business7 days ago

How growth can be a big challenge when a business becomes multiple entities

By Paul Sparkes, Commercial Director of award-winning accounting software developer, iplicit. Organisations don’t just grow in size – they also...