Frequently Asked Questions

 

Answers

 

Can I use my lottery payments as loan collateral?

More than likely, No. When you receive money from lottery payments, your role is more like a beneficiary of those payments, rather than an owner of the money in which the payments come from. Thus, you likely cannot use the money you have not yet recieved as collateral. Think of your periodic lottery payments more like a paycheck payment, whereas you can use the money only after you get it, even though you know more is coming. Additionally, the state laws regarding the sale of lottery payments (based on the model structured settlement protection act) clarify some the requirements that exist to protect you if you want to sell your payments.
By selling your future lottery payments for a lump sum payout, you could then free up access to the funds you are entitled to, allowing you to use it for personal expense needs you may have.

Back to Top

Why would someone want to sell their periodic payments?

Periodic payments from a lottery gives the recipient a sense of security, however, with inflation and the time value of money those payments may lose value over the term of the payout. Selling future payments for lump sum cash allows you to decide what you want to do with your money to secure your present needs and your future financial standing. Perhaps your financial situation has changed and you find yourself in need of money sooner rather than later to meet current expenses, or your periodic payments no longer fit your budget. Whatever your specific situation, Client First can analyze your situation and provide options which include cashing out of your payments, or receive partial cash for some of your payments. Of course, Client First will also advise you if the best option may be to keep your payments intact, and sell none of your payments.

Back to Top

Can I sell my lottery payments?

In a periodic payment agreement, you are technically more of a beneficary of the periodic payments, rather than the owner. You have legal rights pertaining to selling your interest in those future payments. Each of those rights is goverened by the laws of the state, as well as any specific restrictions which may exist in your original payment agreement. At Client First, we carefully review your existing agreement as well as the laws of the state, and prepare a plan that addresses your needs.

Back to Top

Can I sell only a portion of my future lottery payments?

It's your lottery payments and your decision - you can certainly sell a portion of your payments, and keep others to provide income in future years. In fact, most of the transactions completed by Client First involve the sale of partial payments, because we find that meeting your current needs for cash should be carefully balanced with any future payments as well.
After our free analysis & consultation, you can decide which restructuring option works best for you.

Back to Top

What is the process to sell my future payments to Client First?

1. After your free consultation and cash-out decision, you enter into an agreement to sell your future lottery payments to Client First Settlement Funding, in return for a lump sum cash payout. There is no cost to begin this process.
2. Client First goes to court, obtaining a court order, where you assign some rights to your future lottery payments upon receipt of the lump sum sale amount agreed upon.
3. The mandatory court order is satisfied (in your state), protecting both Client First and yourself.
4. As soon as all of these steps are completed, Client First Lotteries pays you your lump sum and finalizes the transaction. Because of all the court requirements, it can take up to 60 days to complete a transaction, so its important to start the process as soon as possible. You do NOT pay any fees for the processing of this transaction.

Back to Top

How long will it take to sell my periodic payments and get my lump sum cash?

A restructuring solution takes approximately 60 days to complete before you receive your money. Much of this time is establishing a court date to secure the appropriate approval, but Your Client First Consultant will manage the process and keep you informed of the progress.

Back to Top

How much money can I expect to get by selling my lottery payments?

At Client First, we keep our cost low, so we can pass those savings to our customers. Pair that up with offering a significantly lower discount rate, and this means more money goes in your pocket. With our custom software combined with a "Client-First" attitude, we offer our customers the peace of mind that we strive to get the most money entitled to them.

Back to Top

How much will it cost me to sell my future payments?

You should not have to pay for any expenses associated with selling your future payments for lump sum cash. All up-front costs, legal fees, and associated expenses are paid for by Client First.

Back to Top

Disclaimer

These questions & answers are provided for informational purposes only, and should not be considered specific legal advice. Please consult your attorney for any legal questions you may have pertaining to your lottery payments, or the selling thereof.

Back to Top
First Name:  
Last Name:  
Email:         
Phone: