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Financial Solutions Expert Arrives in Michigan to Promote Structured Settlements
Bernard Hardrick, structured settlements top consultant for PaperTrail, arrived in Detroit in the wake of Detroit's bankruptcy issues to lead discussions, seminars and individual conferences on how to use the existing laws to expedite court awards.
By: Grow Small Biz
“I prefer to work one-on-one with clients,” said Hardrick. “I don’t want to appear as though I’m an ‘Emergency Manager.’” His company, Paper Trail, Inc., works efficiently and professionally to cut the “Red Tape” for its clients. Before clients are referred to Paper Trail, they may have been waiting for years for a settlement.
Structured Settlements are court awards granted a plaintiff as a result of a personal injury, wrongful death, or similar claim and are typically in the form of an annuity which pays monthly or quarterly. In today's jobless recovery, however, more and more Americans are finding it necessary to convert their monthly payment stream to LUMP SUM CASH due to the loss of a job or other economic hardship.
If you are the owner or beneficiary of a structured settlement annuity and now have the need for LUMP SUM CASH, contact Bernard Hardrick or complete the short online form. His experienced contract buyers can provide anyone with a TOP DOLLAR buyout of their entire settlement or simply a fixed number of future payments to provide the FAST CASH they need and deserve.
A structured settlement is a financial or insurance arrangement whereby a claimant agrees to resolve a personal injury tort claim by receiving periodic payments on an agreed schedule rather than as a lump sum. Structured settlements are widely used in product liability or injury cases.
Congress adopted special tax rules in1982 to encourage the use of structured settlements to provide long-term financial security to seriously injured victims and their families. In the Taxpayer Relief Act of 1997, Congress extended the structured settlements to worker’s compensation to cover physical injuries suffered in the workplace. The structured settlement tax rules enacted by Congress lay down a bright line path for a structured settlement for deferred payments versus a lump sum.
A structured settlement can be implemented to reduce legal and other costs by avoiding trial. Structured settlement cases became more popular in the United States during the 1970s as an alternative to lump sum settlements. The increased popularity was due to several rulings by the IRS, an increase in personal injury awards, and higher interest rates. The IRS rulings changed policies such that if certain requirements were met then claimants could have federal income tax waived.
Structured settlements have become part of the statutory civil case law of several common law countries in the United States. Structured settlements may include benefits and are considered to be an asset-backed security. Often a periodic payment will be created through the purchase of an annuity, which guarantees the future payments.
Contact Bernard Hardrick at Paper Trail, Inc.
This press release was submitted by Grow Small Biz.
Structured settlements in Michigan, structured settlements, financial solutions, Detroit bankruptcy, emergency manager, taxpayer, IRS,
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