Stone Street Capital Structured Settlements Review
Stone Street Capital is a Maryland-based limited-liability company founded in 1989. Stone Street purchases annuities, lottery and gaming winnings, and structured settlements in exchange for a lump sum payment.
Pros
- Well-established company
- Convenient communication methods with clients
- One-on-one consultations
Cons
- Commission-based sales
- Discount rate up to 20%
Stone Street Capital Flexible Buyout Options
If you don’t want to sell your entire settlement, Stone Street Capital will negotiate with you to buy a portion of the contract instead. For example, if you need a few thousand dollars right away to cover an emergency expense, you might decide to sell five structured settlement payments to Stone Street Capital. This arrangement provides cash for the emergency with the security of regular income each month after those five payment periods pass.
| Types of settlement sales: | Whole or Partial Settlement |
|---|---|
| Length of time to receive payment: | 45 to 60 days from contract initiation to payment |
| Payment method: | Check |
| Structured settlements purchased: | Wrongful death Personal injury Medical malpractice Lawsuit Annuities |
How to Sell Your Structured Settlement to Stone Street Capital
Selling your structured settlement to Stone Street Capital can take anywhere from a few weeks to two months or more. Once you contact Stone Street Capital and provide information about your structured settlement, the company may make an offer to buy it. You can try to negotiate the discount rate with Stone Street Capital, usually by shopping around with other structured settlement companies to see if you can find a better offer. Assuming you reach an agreement for Stone Street Capital to buy your structured settlement, the process typically flows as follows:
- Following your state laws and the Structured Settlement Act of 2002, a judge must approve the sale after ensuring the transaction is legal and fair for everyone involved. The judge’s decision may take several weeks.
- Once the judge approves your structured settlement buyout, Stone Street Capital will send you the payment two to four weeks later.
- Be sure to talk to your financial adviser about potential tax implications of selling your structured settlement. There are typically no taxes on structured settlements, except in some situations.
Stone Street Capital Structured Settlements Costs
All structured settlement companies make money by negotiating a discount rate (also called a buy rate) when they purchase a settlement. The company generates a profit by purchasing your settlement for less than the total you would receive if you continued with the payments until the end of the contract. Stone Street Capital’s discount rates range from 6% to 20%, depending on the value and payout period of your settlement.
For example, if you have $1,000,000 in lottery payments, Stone Street may offer to buy the payments for anywhere from $940,000 with a 6% discount rate, to $800,000 at 20%.
Stone Street Capital Structured Settlements Complaints
Stone Street Capital has been registered with the Better Business Bureau since 1996 and currently maintains an “A+” rating, primarily because Stone Street Capital resolved nearly all complaints processed through the BBB. The company received 4 out of 5 stars in a ConsumersAdvocate review and 3.7 out of 5 stars on Google Reviews. Some customers complained that the company phones them too frequently and uses public records to locate settlement recipients for sales calls.
Stone Street Capital Structured Settlements Q&A
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Does Stone Street Capital issue cash advances?
In some situations, such as your case being held up in court, Stone Street Capital may agree to issue an advance. It can take weeks to months to finalize a structured settlement sale, but only accept an advance after you are sure the judge will approve the transaction. -
Can I get a quote from Stone Street Capital for the value of my structured settlement?
Stone Street Capital provides free quotes over the phone to give you an idea of how much they will pay for your structured settlement. -
How does Stone Street Capital finance settlement purchases?
Structured settlement companies are either brokers, meaning they are a middleman who finds settlements to sell to other buyers or direct-funded purchasers that buy the settlements themselves. Stone Street Capital is a direct-funded company with independent financing to purchase settlements. -
How large is Stone Street Capital?
Stone Street Capital employs about 200 professionals. -
How much experience does Stone Street Capital have with purchasing structured settlements?
The company has been in business for 30 years, purchasing over $2.6 billion in structured settlements and other annuities.
Conclusion
If you need a lump sum to pay emergency expenses and you don’t mind losing some of your settlement to fees, selling your structured settlement can be a smart financial move. Stone Street Capital works with clients to negotiate the best outcome for everyone involved. Talk to your financial adviser to see if selling your structured settlement is right for you.