FAQs

Feel free to call us and talk to a live representative, or read the answers to the most common questions below.

What are Structured Settlements?

If a plaintiff wins a lawsuits with a large award (often as a result of a serious accident or wrongful death claim), the defendant’s insurance company can offer the plaintiff a series of payments over a longer period of time (called an annuity) instead of an immediate one-time, lump sum payment. In all, these annuity payments (often called “structured settlements”) normally total more than the amount one would have received as a single lump-sum payment at the time of the settlement award. If the Plaintiff agrees to take the structured settlement, instead of a single lump sum payment, the Plaintiff must sign a Settlement and Release Agreement that allows the Defendant (their insurance company) to purchase an annuity policy to provide for the payments to the Plaintiff (now called the “Annuitant”). The Annuitant does not own the annuity and does not have the right to sell the actual annuity. The Annuitant does however have the right to receive the payments and can sell these payments to a third party.

Why would anyone want to sell his or her structured annuity payments?

If someone needs money from their settlement payments, it is usually because they have a current financial need and may not be able to, or want to wait for future annuity payments from their structured settlement. Maybe they want to buy a home, pay for an education, or start a small business, or perhaps they lost their job, or have encountered a medical emergency. The truth is there could be any number of valid reasons. Selling a portion of their settlement payments is a valid option (sometimes the only solution) to providing funds for a financial want or need.

How much will I receive?

The amount we can pay for the annuity is dictated by three factors:

1) the amount and timing of the payments we are to receive
2) the probability that the issuer will make the payment on time and in the full amount
3) the current economic conditions such as interest rates

All other factors being equal, we can pay more for payments that will be received sooner than those that will be received several years from now.

How Quickly Can I Get My Money?

After you've signed the contract, it can take as little as 45 days to about 90 days to receive your money. The main reason for the varying time frame is the potential delays in scheduling a court date to obtain a Judge’s approval for the sale.

What if I want to sell only a portion of my payments?

You can! More often than not, people will initially sell only a portion of their structured settlement payments to meet their specific financial need at the time. You can always sell additional remaining payments in the future if you want. Oasis can structure a plan to buy a portion of each payment, buy payments for a short period of time, or offer a lump sum payment for your entire structured settlement annuity. Each transaction in tailored to your needs.

Will I owe taxes on this money?

On June 10, 1999, the IRS issued a Private Letter Ruling 119273-97, which confirmed that an individual's sale of structured settlement payments would not create a taxable transaction. In addition, HR 2884 confirms this ruling. We do encourage you to contact a tax accountant just as a safeguard.

How Much Are My Payments Worth?

How much your future payments are worth depends on several factors; mainly interest rates and exactly when your future payments are due. If you want to call us (toll free) we can provide you with a Free Quote based on your payment schedule from the insurance company.

Can this be done on worker's compensation settlements?

No. Unfortunately, only personal injury settlements that qualify under IRC 104(a)(2) can be transferred under the federal and state transfer acts

Who is Oasis and what do they do?

Oasis Legal Finance, LLC, is headquartered in Northbrook, Illinois, a northern suburb of Chicago. As the most active firm in the legal financing industry, we fund the most kinds of cases with the largest number of financial products. There is absolutely no cost, risk, or obligation to apply to find out how much money you could qualify for. See “About Us”

What about courts that have held anti-assignment language as enforceable?

Even in states where the courts have upheld anti-assignment language, Judges can and have ruled that a transfer of payments is in the best interest of the annuitant notwithstanding such previous rulings.

Will I Be Protected?

Yes. As of now, 46 states have passed legislation that discusses the sale of injury settlement payments. These state laws work with existing federal laws which spell out clear rules for the sale of periodic payments for a lump sum of cash. Court orders are issued ensuring the best interest of the client.