Can I Sell My VA Disability
I get lots of inquiries from Vets wanting to sell VA disability payments in 2013. As a matter of fact for selling disability payments of all kinds the question I get the most is “Can I sell Veterans disability payments?” I also see people asking online “Are VA disability payments a structured settlement. They are not really a structured settlement just like pension payments but they are still an income stream you can sell your VA disability payments in 2013 just like you can sell pension payments. Prior to November 29th 2012, unfortunately I’ve had to tell veterans wanting to sell a VA disability income stream in 2013, no. That has now changed.
Announcement: We are no longer assisting with the sale of VA disability payments
I have joined forces with a buyer of VA disability payments. As with all income streams, VA disability income purchases are at a discount. In the case of VA payments as with selling income streams and structured settlements, you will probably need to have or purchase life insurance, otherwise a buyer could end up with zero for their purchase should something happen to you. Also, the minimum monthly payment we can purchase is $600.00. The percent disabled does not affect the purchase decision.
So click on our VA Disability Web Quote Request Link for faster service or give us a call so we can work you up a quote for a disability payment stream to see if selling your VA disability compensation makes sense for you.
So how does the process of selling VA payments work. First, there are a few requirements you will need to meet. First, you need to not have a serious health problem such as heart disease, diabetes, etc. nor a felony. Credit is not a big factor other than you need to not have liens or judgements outstanding. You will need to have or be able to purchase enough life insurance to cover the payments being purchased. You also can’t be rated as “Unemployable”. Also, there is not any set number of payments purchased. What we do is purchase a portion of your VA disability payments so you aren’t left with zero income coming in. Our quotes will give you multiple options to achieve your lump sum cash goal. One other point, payments are purchased at a discount. The further out the payments purchased go, the steeper the discount so don’t ask for a lump sum for VA disability payments that’s more than you really need.
Lastly, VA disability payments are purchased at a discount just like other income streams such as structured settlements, so keep this in mind. So why would someone sell VA disability compensation at a discount. In my opinion, selling VA, pension or other payments isn’t right for everyone. It really depends on two or three things, 1) Is the cash for your disability payments going to solve a serious problem or capitalize on a significant opportunity, 2) Do you believe your future payments or amount of payments are at jeopardy (think government spending cuts or worse some believe), and/or 3) The purchasing power of your future payments will decrease significantly as in inflation. I know what we are being told about inflation but look at what the well-respected shadowstats.com says is the real inflation in the below inflation chart.
For more from Shadowstats, visit them at Shadowstats
Selling Your VA Disability or VA disability: How it Works and FAQ
We always strive to make the process of selling a part of your VA disability payments for a lump sum of cash as simple and easy and as possible. To begin with, we ask you to complete our simple quote request or application on our website, so that your quote request can be reviewed by our corporate staff. We then contact you to learn more about your goals for selling your VA disability income stream, so as to help determine if our program could be a fit for you.
If you decide you want to work with us, we will then request you fill out some additional paperwork and submit some documentation from the VA documenting how much your benefits are. After you return the necessary documents to us, we will then review your application package and determine if you are eligible to proceed with selling your monthly VA disability. Our staff will help you determine anything that may cause a problem before you submit your application, so your chances of being approved are very good!
After you have been approved, our nationwide network of financial advisers that we work with will begin the process of securing a suitable purchaser of your VA disability income stream. Remember, we don’t purchase your VA disability ourselves - our goal is to assist you in taking control of your financial future by facilitating the sale of your VA disability income stream to a third-party purchaser. The process of determining a buyer and closing a case normally takes anywhere from 10-14 weeks on average, however the process does vary on a case-by-case basis as with the sale of most income streams.
During the processing period for selling your VA disability you will be required to have a life insurance policy in place as collateral. If however you do not currently have any life insurance, we would be glad to recommend a licensed professional to help you secure the right policy for you.
“So, just how much will I receive for my VA disability payments? Unfortunately, the short answer is “it depends.” Each time our staff evaluates a VA disability case, we use a purely mathematical formula to assist us to determine the net present value of your future income stream. Every case will therefore be different, and we encourage you to speak directly with one of our agents to discuss the specific dollar amounts for you.
Please keep in mind that this is not a loan against your VA disability, and that you are not really “selling your pension/VA disability.” Our goal is simply to assist you in selling a portion of your VA disability payments you receive from your VA disability income. We recommend you to discuss this important distinction with the agent, whom provides you your quote.
What kinds of pension/VA disability sales do you help sellers facilitate?
We can assist sellers of federally-backed pension/VA disabilities (such as military retirement/VA disabilities, VA Disability income streams, federal government employee retirement/VA disabilities, etc.) and pension/VA disabilities backed by the PBCG (Pension/VA disability Benefit Guaranty Corp). If you’re just not sure whether you’ll qualify, please feel free to give us a call or contact us using the form on this website. Unfortunately, we are not able to assist anyone in the sale of Social Security or Social Security Disability Incomes.
Will you do a credit check on me when I sell my VA disability or pension?
We will ask that you send us a copy of your credit report, which can be purchased for free from AnnualCreditReport.com. This is for our records and is just one part of the overall qualification process. Bad credit does not automatically disqualify you from selling your VA payments. If you are interested in applying to sell your VA income stream but have poor to bad credit, judgments, previous bankruptcies, or other blemishes on your credit report, we would still recommend you still to apply with us.
Is there a minimum monthly VA disability amount?
You must be receiving a net monthly VA benefit of at $600/month or more. For recipients receiving an annual benefit as opposed to monthly benefits, you will to be receiving $10,000 per year or more. You must be currently receiving your benefit in order to qualify for our program.
If you are currently scheduled to receive a single lump sum payment from the VA on a set date in the future, please get in contact with us directly. These situations are considered on a case-by-case basis.
Can you tell me how much does my VA disability sale discount will be?
In order to answer this question for you, you must compare the value of your VA disability’s future income stream to the present value of today’s dollars. This is calculated using a purely objective, financial formula. The actual discount to you will vary depending on the amount you wish to sell, and the length of time for which you choose to sell which are determined by your cash goals. The further out you have to sell VA payments, the deeper the discount. So since each case is different, we encourage you to discuss your specific dollar goal with our the adviser who provided you your quote. His or her contact information will be at the bottom of your quote.
Please be assured that there is no application or processing fees in working with our company.
Why shouldn’t I just go to the bank or get credit card cash advance?
In the current economic climate, neither the banks or credit card companies recognize future VA income streams as collateral. This is a severe limitation for disability sellers in need of short-term capital/cash. We’re a market leader in the exchange of future VA disability payments for today’s dollars.
In addition, credit card issuers will charge you 18-24% possible even more annually in compound interest if your balance isn’t paid off within thirty days. We offer an important service to help Veterans work against these restrictive lending practices. As a matter of fact, many of our clients use our funding services to pay off their credit card debt with outrageous interest rates.
Why do I need to have life insurance?
Very much like lenders require homeowner insurance policies when they issue you a mortgage, we require you have a life insurance policy in place before finalizing the approval of the sale of your VA disability. Understandably, if the VA disability seller passes away all future payments to any buyer would end; a life insurance policy helps us protect the integrity of our financial relationship with both you and with the disability buyer.
How long does it take after I submit my application to receive my funds?
As we covered previously, every case is different however we typically advise our clients to prepare for an average process time of between 10-14 weeks. The process can also be completed much more quickly – and unfortunately sometimes it occasionally takes more time. We can never know for sure how long any given sale will take to close because we do not buy them ourselves (remember: we help facilitate the sale of your VA disability to a purchaser), and we therefore cannot guarantee the time with which our third-party buyer will take, but rest assured that our primary goal is to assist you in the fastest, most efficient way we can.