Cancer remains to be one of the deadliest diseases and takes a toll on mortality rates the world yonder. Despite the quantum leaps made in the treatment of other symptoms, cancerous growths have proved a hard nut to crack for the medical world. The continued use of chemotherapy, radiation, and incisive surgery remains the only option for patients while they endure a litany of side effects such as vomiting, nausea, and decreased appetite. Nevertheless, this does not rubber stamp negligence on the part of physicians; they must observe a reasonable standard of care that normally applies to that class of patients. Such patients can institute a lawsuit for personal injury sustained due to the negligence of physicians.
Raphael Clarkson sued a hospital and medical center for personal injuries inflicted by a negligently administered radiation performed by their doctor. Vicarious liability was imposed on both the hospital and the surgeon giving him payments of $1,400 per month for life and eight lump-sum annuities to be paid at determined dates. A new cancer treatment without collateral damage and toxic effects associated developed by doctors in Ohio was his only hope after receiving his first payments from the future income stream. He decided to parcel out a substantial portion of the structured settlement payments. However, Clarkson discovered Minnesota had a legal framework governing the transfer of structured settlement and annuity transactions.
Minnesota Structured Settlement and How He Complied
Minnesota has a legal regime with provisions that guide state courts to determine whether the sale is in the payee’s best interests. Clarkson had to show he understood the ramifications of selling the future income stream on his dependents. The court review also involved an objective assessment of the discount rate. The judge asked Clarkson whether he had received independent professional advice; he had consulted a firm of certified public accounts.
The Structured Settlement Funding Company Provided A Disclosure Statement
Before Clarkson executed the agreement, he received a disclosure statement that conspicuously highlighted:
- The amounts of his three structured settlement annuities and monthly payments he was transferring
- The net value of all payments he was trading
- The scaled lump sum payable, together with a discount rate used to calculate the discounted current value
- The lump sum amount payable to Clarkson in return for his future payments
- All fees, including court filing fees, attorney and legal costs and processing charges
- The amount of any remedies after breaching of contract
- Clarkson had established it was in his best interests and that of his dependents
- He had obtained counsel from a firm of accountants about legal, fiscal and tax ramifications
- The agreement’s dispute resolution would fall under the state of Minnesota in a court of competent jurisdiction
After a short court hearing, the transaction was approved giving Clarkson a new source for money to undergo cancer treatment. The structured settlement funding company handled a substantial percentage of the legal process. The only thing Clarkson did was to sign and review his documents with a penetrating eye.
A Seasoned Structured Settlement Company Hits Home with Speedy and Legitimate Solutions
Clarkson needed about $80,000 to buy the new prescription. The structured settlement purchasing company bought his payments and annuities at an unbeatable price in the market. Besides, they provided him with the best customer care and kept him in the loop at every juncture of the transaction. Clarkson had peace of mind as attorneys entrusted by the structured settlement annuity buyer fast-tracked the court hearing, served notices to all interested parties, and complied with all federal and state laws. His qualifying order affirming the sale, however, he had already undergone treatment and was feeling alive again.
Structured Settlement Companies That Give You A Leading Edge
Fairfield Funding will be on your guard to file all relevant documents to support your application in court, liaise with the superior court judge and prepare all transfer documents, including the agreement and disclosures in 24 hours to get your deal underway momentarily.
Woodbridge Structured Funding is among the leading structured settlement factoring financing companies to buyout future cash flows for the highest price offer, acts as your representative to interested parties and disburses your money within 48 hours after a final court order.
Stone Street Capital has been a buyer of structured settlement annuities for more than a decade. The company will ensure your factoring transaction meets your immediate financial demands by ensuring you garner the highest lump-sum amount.…