Our program provides instant cash in
exchange for the next 12 months (1 yr.) or 72 months (6 yrs.) of your pension payments.
Use your funds for:
Debt Consolidation
Divorce Settlements
Home Purchase
Pay Bills
Investment
Starting a Business
Pay for School
ANY legitimate use of funds is
acceptable.
Click Here for a Military Pension or Company
Pension Cash
Quote
Types of Pension Payments We Purchase
Most types of pension payments are
eligible. This program is available to all U.S. residents.
Payment Types:
Military Pension
Company Pension
Police and Fire Pension
Teacher Pension
ANY State or Federal Government Pension
We DO NOT Buy Social Security
Benefits
We DO NOT Buy VA Disability
Benefits
How
Does the Pension Loan Program Work?
First American
Finance pays a lump sum of cash in exchange for 12 months (1 yr.) or
72 months (6 yrs.) of future pension benefits. The first step
is for us to provide you with a free, no-obligation estimate of how
much we will pay for your future benefits. You will receive the
estimate within 2-3 business days if
you provide us with an email address or telephone number. If you like the figure, we will
forward a full application for you to complete and return and we will begin
the process.
Who is eligible for
Pension Funding?
All
people currently receiving pension payments. Persons receiving military
pensions must be out of the service at least 6 months.
What is
the minimum payment amount you will purchase?
We will purchase
pension payments of $550 or more per month.
Is
there a maximum payment amount you will purchase?
12 month program: The maximum monthly
payment we will purchase for the 12 month (1 yr.) program is $1,000.
If you are receiving larger payments, we will purchase $1,000 of the
payment and forward the overage to you each month.
72 month program:
The 72 month (6 yr.) program allows us to purchase up to 85% of your
net payment amount, without any limitation on the payment amount we
can purchase.
Are
there any credit requirements?
We do not require
perfect credit, but applicants must at least have fair credit and
not have any collections or judgments that may affect the pension
payments.
Are
there any age limitations?
None at
all. Any person of legal age will be accepted.
Are
people who have filed for bankruptcy eligible?
Yes, but the
bankruptcy must have been discharged at least 12 months previously. Additionally,
the credit history since the bankruptcy must be fair.
Are the 12 month and
72 month programs the only purchase options your offer?
We have found that
our 12 month and 72 month programs are the most beneficial to all
parties involved, and accommodate the needs of the majority of our
applicants. However, we can consider purchasing more than 72
months of payments on a case by case basis upon special request.
What is
the average time for funding?
12 month program:
If you submit your
application to us along with all required documents and receive an
approval before the 15th of the month, you could receive you funds
within 7-10 days after the first payment re-direct. This is
usually by the 8th or the 12th of the following month.
72 month program:
It usually takes approximately 4 to 6 weeks from the time we receive
your complete seller package, to receive your funds.
Are
there any restrictions on the use of funds?
First American Finance
does not require any specific use for the funds. Education, home,
medical bills, bill consolidation, recreational vehicles, vacations,
investments, etc. All legitimate purposes are acceptable to us.
Do I
need to own a home to qualify?
No. Home
ownership is not required. In fact, stable renters are often strong
qualifiers.
Do I need Life
Insurance?
12 month (1 yr.)
program: No. No Life Insurance required.
72 month (6 yr.)
program: Yes. Life Insurance is required to be in
place for the entire term for our 72 month (6 yr.) program.
However, we will assist with the purchase of the Life Insurance
policy, and pay 1/2 of the premium, if you do not currently have
Life Insurance.
Why isn’t the amount
of money paid to me [the pensioner] equal to 12 or 72 months worth of
payments?
The lump sum
received by the pensioner is substantially less than the total
payments received over 12 or 72 months. First, taxes are deducted in the
calculations so that the pensioners calculations must include an tax
deduction from each payment. Also, allotments, and other deductions are
made before calculations are made. Finally, current dollars are more
valuable than future dollars. Just like lottery winnings, a winner can
collect all of his money over twenty years, or approximately 40% of the
total amount at the time of winning as a cash option. The rate of
discount is similar for pension payments. However, the lump sum
you will receive from us will
be approximately 50-78% of the total sum of payments purchased!
Example of our 12 month (1 yr.) Pension Advance Program
EXAMPLE #1: Net monthly
payment received = $550 per month
We purchase 12 payments and you receive
$5,000.00. (That's 75.8%)
EXAMPLE #2: Net monthly
payment received = $650 per month
We purchase 12 payments and you receive
$6,000.00. (That's 76.9%)
EXAMPLE #3: Net monthly
payment received = $1,070 per month
We purchase 12 payments and you receive
$10,000.00. (That's 77.9%)
Example of our 72 month (6 yr.)
Pension Advance Program
EXAMPLE #1: Net monthly
payment received = $600 per month
We purchase 72 payments and you receive
$21,775.00. (That's 50.4%)
EXAMPLE #2: Net monthly
payment received = $800 per month
We purchase 72 payments and you receive
$29,000.00. (That's 50.4%)
EXAMPLE #3: Net monthly
payment received = $1,000 per month
We purchase 72 payments and you receive
$36,300.00. (That's 50.4%)
Most pension advance companies only
pay 25
to 40%. We pay 50-78%.
Are
there ways to repay the loan early?
This program is
actually not a loan. Early repayment is not an option. The program
is a contractual agreement between you and our investment firm for
which you agree to sell your next 12 or 72 monthly pension payments.
Therefore, we are agreeing to pay you a lump sum of cash up-front
for your commitment to have your next 12 or 72 monthly payments
forwarded to us.
