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Novation Capital

Reviews and Structured Settlement Examples

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Novation Capital

Reviews of Novation Capital

Novation Capital Structured Settlement Company

Reviewer: Joseph Minich

Written: May 4, 2014

Novation is one of the five largest buyers of structured settlements. Located in West palm Beach Florida, the management of novation was formerly part of Singer Asset Finance Company, located in Boca Raton. Singer was one of the first companies to buy structured settlements and lottery prize payments. So the owners/managers of Novation are highly experienced in the industry.

For more complicated structured settlements, Novation is possibly the best purchaser in the business. They do always pay the absolute top dollar for people who sell their annuity, but they always have capital and will process transaction quickly and efficiently.

Overall I rate them 4 out of 5 stars.

Main address:
1641 Worthington Rd
West Palm Beach, FL 33409

About Novation Capital

Since 2000, Novation Capital has provided customers with fast decisions and high payouts. Their highly-trained and educated staff of professionals have purchased over $1.2 billion in structured settlements, annuities, lottery receivables, and other similar cash flows. They have earned an A+ rating with the Better Business Bureau.

Location

SELL A STRUCTURED SETTLEMENT TO NOVATION CAPITAL: PAID TRANSACTION #1

Purchase price: $13,793.89

Novation Structured Settlement

Seller: Taylor G.

Buyer: Novation Capital, LLC

Court Order Date: March 30, 2012

State of residence of annuitant: Louisiana

Court: Calcasieu Parish

Annuity Issuer: Liberty Mutual Insurance Company

Description of payments purchased: One (1) lump sum payment of $20,315.00 due October 3, 2013

Reason for selling structured settlement annuity: I do not rely upon the settlement payments to pay my monthly living expenses (food, clothing, shelter, medical care). I want to transfer a portion of my structured settlement payments equal to Lump sum payment of $20,315.00 due October 3, 2013 ("Assigned Payment") in order to raise money to allow me to purchase a car and catch up on bills. If this Petition is granted, I will be able to realize my goals. I understand that I will be giving up the right to receive the Assigned Payment in exchange for a lump sum payment. I have considered other means of raising cash, but I do not have any property to sell or collateral against which to borrow from a conventional lender. After weighing the options available to me, I have determined that selling a portion of my settlement is the most efficient and least expensive way for me to raise the funds I need.

Transaction review:

Win-win - by Ken Ziegler, April 8, 2014

Overall rating 4.75 out of 5 stars.

This transaction purchased payments from a Louisiana annuitant. The purchase price was slightly above average for an annuity of this size and a carrier, Liberty Mutual, with this credit rating. This is a very typical and well supported transaction, Novation is a stickler for proposing transactions to the court that meet the spirit of the best interest standard and this case is no exception. The annuitant clearly benefits from selling their annuity for a lump sum instead of waiting for small payments over time.

NOVATION CAPITAL PAID TRANSACTION #2

Purchase price: $28,500

Novation Structured Settlement

Seller: Shawntney B.

Buyer: Novation Capital, LLC

Court Order Date: November 24, 2009

State of residence of annuitant: Georgia

Court: Henry County Superior Court

Annuity Issuer: John Hancock Life Insurance Company

Description of payments purchased: Lump sum payment of $25,000.00 due 8/15/2014; Monthly payments of $851.19 commencing 9/15/2014 through and including 7/15/2015; Monthly payments of $941.24 commencing 8/15/2015 through and including 2/15/2016; Monthly payments of $3,282.46 commencing 3/15/2016 through and including 7/15/2016; Monthly payments of $!,000.76 commencing 8/15/2016 through and including 7/15/2017; Monthly payments of $1,195.55 commencing 8/15/2017 through and including 7/15/2018; and Monthly payments of $1,398.13 commencing 8115/2018 through and including 6/15/2019

SELL A STRUCTURED SETTLEMENT TO NOVATION CAPITAL: PAID TRANSACTION #3

Purchase price: $8,500.00

Novation Structured Settlement

Seller: Kenyatta B.

Buyer: Novation Capital, LLC

Court Order Date: September 3, 2009

State of residence of annuitant: California

Court: Sacramento Courts

Annuity Issuer: Swiss Re Life and Health America, Inc.

Description of payments purchased: Monthly payments $2985.25 from 04/01/2022 through 08/01/2022; Monthly payments $3074.80 from 09/01/2022 through 08/01/2023; Monthly payments $3167.04 from 09/01/2023 through 08/01/2024

Transaction review:

Pennies on the dollar - by Gary Gately, July 8, 2014

Overall rating 1 out of 5 stars.

I'm sure that Mr. B. needed this money desperately, but he somehow opted to sell almost $90k of annuity payments with a present value of over $64k for a mere $8500. This was not a good deal for Mr. B. and Novation made a huge steal here. I'm very surprised the judge endorsed this particular structured settlement sale to Novation.

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