We will purchase Settlements
For the following situations
Personal Injury Claims
Including third party insurance claims and workers compensation.
Court decisions regarding the rights and liabilities of parties.
Lawsuits filed or defended by an individual acting on behalf of a group.
Superannuation Lump Sum
In circumstances where you are entitled to an unconditional payment from a Super Fund.
Property and Divorce Settlements
If you have an unconditional sale contract, unconditional divorce settlement or a right to receive payment from a deceased estate.
Real Estate Commission
If you are a residential or commercial real estate agent who is entitled to a commission payment.
Our Settlement Process
How it works.
Complete Online Application Form
Review and confirm with your lawyer
We will review your application form and contact your legal representative or conveyancer to obtain copies of settlement or contract.
Execution of assignment agreement
Execution of sale and assignment agreement.
Payment of Purchase Price to you.
Within 48 hours of approval.
Payment of Settlement
Payment of Settlement to us by your legal representative.
Purchase Price Calculation
In calculating the purchase price for your settlement entitlement, we apply the following calculation:
Establishment fee of 10% of settlement amount
2% of the settlement amount (holding fee) per month until expected settlement date.
So, by way of example if you are entitled to (say) a personal injury claim of $20,000, the purchase price will be calculated as follows:
Settlement amount: $20,000
Payment date 3 months in the future
Establishment fee $2,000
Holding cost 2% x $20,000 x 3 months = $1,200
Total cost to us $3,200
Purchase price therefore $16,800
We take the risk on collection and you receive your purchase price of $16,800 up front
Frequently Asked Questions
Here you'll find answers to any question you may have.
Is this a loan?
No, we will buy your settlement at a discount and take the risk on payment.
What happens if the other party doesn’t pay? Do I have to repay the purchase price?
No, Settlement Finance takes the risk on payment and collection of settlement amount.
What happens if I owe my lawyer or conveyancer fees?
That is between you and your legal representative. However most legal representatives will require payment when you receive your cash.
Who owns the Settlement?
After you sign the purchase and assignment agreement the settlement legally belongs to Settlement Finance.
How long does it take to get my money?
Assuming you provide all information correctly on the Application Form, transfer and payment should occur within 48 hours.