Fairfield Funding

Fairfield Funding Review

Founded in 2009, Fairfield Funding is a structured settlement company based in Atlanta, Georgia. The company exclusively buys structured settlement annuities, lottery payments and you can sell annuities to the company. Fairfield Funding will purchase all remaining settlement payments or only a portion, depending on how much cash you need now and whether you need a reliable income stream in the future.

Pros
  • Strong customer service
  • No hidden fees
  • Small organization with personalized service
  • 100% guarantee with free estimates

Cons
  • Their website can be difficult to navigate

Fairfield Funding Structured Settlement Buyouts

Like all structured settlement purchasing companies, Fairfield Funding will pay you the total value of your settlements minus a percentage called the discount rate. According to Fairfield Funding’s website, the discount rate ranges from 6% to 18%. The formula for understanding how much you’d receive given various discount rates is:

(Value of Payments Sold) – (Value of Payments Sold)*(Discount Rate) = Amount Received

Several factors determine the discount rate, including:

  • Which insurance company issues your payments
  • Payment dates and value of payments Fairfield Funding will buy
  • Current and projected economic trends

The lower the discount rate, the higher the payment for your structured settlement. The following chart gives you an idea of how various discount rates affect your final payment.

Fairfield Funding Sample Discount Rates
Payments Sold Discount Rate Amount You Receive
$100,000 6%
12%
18%
$94,000
$88,000
$82,000
$200,000 6%
12%
18%
$188,000
$176,000
$164,000
$300,000 6%
12%
18%
$282,000
$264,000
$248,000

How to Sell Your Structured Settlement to Fairfield Funding

Selling your structured settlement is a complicated matter, but a Fairfield Funding representative will complete the paperwork and help you understand the steps you need to take. The sales process usually follows this schedule:

  1. Contact Fairfield Funding by phone or using the inquiry form on the website. You’ll provide some general information, and then a structured settlement specialist will contact you to discuss in more detail buying your payments.
  2. Discuss your situation and receive a quote from a Fairfield representative. You will provide your settlement amount, remaining payments, the insurance company you accept payments from, and whether you are interested in selling all future payments or just some of them. The Fairfield Funding representative will quote an amount the company will pay for your settlement. At this point, you can accept or reject the offer, or attempt to negotiate or shop around for proposals from other companies. However, Fairfield Funding’s 100% Guarantee should assure the highest payment.
  3. Complete a disclosure statement if you accept an offer from Fairfield Funding. This document spells out the terms of the proposed transaction.
  4. Sign the contract after reading it carefully and if you agree to the terms. We recommend having a lawyer or financial advisor look the agreement over as well.
  5. Secure a judge’s approval. Several laws govern structured settlement sales. You may need to attend court on a specified date to receive authorization from a judge to sell your structured settlement payments.
  6. Receive a lump sum payment from Fairfield Funding, typically a few months after starting the sale process.

Fairfield Funding 100% Guarantee

Fairfield Funding’s 100% Guarantee is unique compared to most structured settlement companies. The guarantee breaks down into four parts addressing the amount you’ll get in exchange for your settlement, cash advances and the time it takes to receive your payment from Fairfield Funding.

Fairfield Funding guarantees the best price for your structured settlement and will beat any competitor’s offer, or pay you $500. You must request the 100% Guarantee in writing before signing your contract with Fairfield Funding. If you receive a lower offer from a competitor, you can bring your signed competitor contract and proof of funding back to Fairfield to receive your $500.

The company guarantees cash now, with advances in as little as five days, if you have a contract and confirmation of availability and assignability of structured settlement payments.

Fairfield Funding also guarantees interest-free cash advances. Finally, Fairfield Funding guarantees a fast payment because you will close on your settlement sale as quickly as legally possible.

Fairfield Funding Complaints

Fairfield Funding receives high ratings from consumer advocacy and review websites. The company earned a perfect 5 out of 5 stars from ConsumerAffairs readers and an A+ rating from the Better Business Bureau. TopTenReviews rates Fairfield Funding 4 out of 5 stars, deducting one star because the company is young compared to the competition, and it is unclear if the account representatives are credentialed or accredited. ConsumersAdvocate awards the company a healthy 8.2 out of 10 stars.

Fairfield Funding Q&A

  • What are the court fees associated with selling a structured settlement to Fairfield Funding?
    Fairfield Funding pays all processing, legal, notary, and other fees necessary to buy your settlement. However, if you want to retain a lawyer to represent you or review Fairfield’s documents, you will be responsible for your lawyer’s fees.

  • How long does it take to sell a structured settlement to Fairfield Funding?
    The process of selling a structured settlement varies, but with Fairfield Funding, finalizing your structured settlement sale generally takes 30 to 45 days to complete.

  • Are there any structured settlements Fairfield Funding won’t buy?
    Fairfield Funding buys all types of structured settlements except those resulting from a class-action lawsuit or a workers’ compensation claim. Contact a representative to find out if yours is eligible.

  • Is there anything I can do to speed up selling a structured settlement to Fairfield Funding?
    Get all information in order before discussing your needs with a Fairfield Funding representative. You can speed up receiving your settlement buyout by gathering all structured settlement documents, including the name of the company issuing your payments, proof of your settlement, and its value and payment plan. Respond quickly to the information requested of you so your representative can process your documents faster. Other than that, keep in mind selling a structured settlement takes at least a month or two to finalize and get cash in your hand. If you need money sooner, your Fairfield Funding representative may offer a cash advance.

  • Does Fairfield Funding offer a referral bonus?
    Yes, you can receive $500 for every referral you make resulting in a transaction.

Conclusion

Fairfield Funding’s small size allows for personalized service not found at other structured settlement companies, and the 100% Guarantee is unique in the industry. The company works efficiently to close structured settlement sales quickly and is very competitive with payout amounts. Be sure to talk to your financial adviser or lawyer about whether selling your structured settlement is right for you.

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