Total Amount of $208,000.00 Being Sold For Receipt Amount of $4,500.00 Granted by San Bernardino Superior Court May 2014
"Court Finds Allegations in Petition Sufficient and True"
The structured settlement payments in this case weren't supposed to begin until the years 2030-2038, at payments of $2000 for 104 months. These are life contingency payments with no beneficiary. The conservatorship to the injured party dissolved 15 years ago.
Funds Not Available Until Party is Over 60
In this case, the person is in ailing health already and might not make 60 years old, and he has no beneficiaries. "Life Contingent" means the $208,000 structured settlement payment rights will happen ONLY IF the party is still alive after 60. Chances are, he won't be, according to medical records, and the person himself.
This is Why The Pay Out is So Low
The transfer company is probably going to take a hit, because if the man is not alive by 60, then the transfer company is not paid. There is an iota of chance he could make it to 60 years old. This is the million-dollar question. What if the party lives to 60 and beyond?
What Swayed the Court?
The man petitioning the court was forthcoming with information to the court. He showed the court that he had already discussed the transfer with the attorney that handled his personal injury case.