Our program provides instant cash in
exchange for the next 12 months (1 yr.), 5 yrs., 7 yrs, or 10 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
Our investors DO NOT Buy Social Security
Benefits
Our investors DO NOT Buy VA Disability
Benefits
How
Does the Pension Loan Program Work?
First American
Finance has created relationships with private investors and pension
buyers that will pay a lump sum of cash in exchange for the next 12
months (1 yr.), 5 yrs., 7 yrs., or 10 yrs. of future pension
benefits. The first step is for us to provide you with a free,
no-obligation estimate of how much of a lump-sum we can obtain from
our investors 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 monthly 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?
12 month program:
We can purchase pension payments of $550 - $1,070 month.
5 yr. program:
We can purchase
pension payments of $900 or more per month.
7
yr. program: We can purchase
pension payments of $700 or more per month.
10 yr. program:
We can 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 $1,070.
If you are receiving larger payments, we will purchase $1,070 of the
payment and forward the overage to you each month.
5 - 10 yr. program:
This program allows us to purchase up to 75% of your
net payment amount, without any limitation on the maximum payment amount we
can purchase.
Are
there any credit requirements?
We do not require
perfect credit, but applicants
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.
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.
5 - 10 yr. program:
It usually takes approximately 8 to 12 weeks from the time we receive
your complete seller package, to secure a buyer for your payments
and receive your funds.
Are
there any restrictions on the use of funds?
Our investors do 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 for our 12
month program.
5 - 10 yr.
program: Yes. Life Insurance is required to be in
place for the entire term purchased. However, we can assist with the purchase of the
required Life Insurance
policy, and pay 1/3 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 the total value of all the payments
that will be collected?
The up-front lump sum
received by the pensioner is substantially less than the total
value of the payments that would have been collected over the
extended period of time. 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 30-40% of the
total amount at the time of winning as a cash option. The rate of
discount is similar for advance pension payments. However,
depending on the program chosen, the lump sum
you will receive from us will
be approximately 33-78% 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 60 month (5 yr.)
Pension Advance Program
EXAMPLE #1: Net monthly
payment received = $900 per month
We purchase 60 payments and you receive
$27,817.00. (That's 51.5%)
EXAMPLE #2: Net monthly
payment received = $1,000 per month
We purchase 60 payments and you receive
$30,908.00. (That's 51.5%)
Example of our 84 month (7 yr.)
Pension Advance Program
EXAMPLE #1: Net monthly
payment received = $700 per month
We purchase 84 payments and you receive
$27,309.00. (That's 46.4%)
EXAMPLE #2: Net monthly
payment received = $800 per month
We purchase 84 payments and you receive
$31,210.00. (That's 46.4%)
EXAMPLE #3: Net monthly
payment received = $1,000 per month
We purchase 84 payments and you
receive $39,013.00. (That's 46.4%)
Example of our 120 month (10 yr.)
Pension Advance Program
EXAMPLE #1: Net monthly
payment received = $600 per month
We purchase 120 payments and you receive
$28,556.00. (That's 39.7%)
EXAMPLE #2: Net monthly
payment received = $800 per month
We purchase 120 payments and you
receive $38,074.00. (That's 39.7%)
EXAMPLE #3: Net monthly
payment received = $1,000 per month
We purchase 120 payments and you
receive $47,593.00. (That's 39.7%)
Most pension advance companies only
pay 25
to 40%. We pay 39-77%.
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 payment buyer for
which you agree to sell your next 12 mos. (1 yr.), 5 yrs., 7 yrs.,
or 10 yrs. of pension payments. Therefore, we are agreeing to
obtain you a lump sum of cash up-front
for your commitment to have your next 12 mos. (1 yr.), 5 yrs., 7
yrs., or 10 yrs. worth of payments
forwarded to our investors.
