Berta Posted November 21, 2011 Share Posted November 21, 2011 My reply isn't emotional -it is the facts: “A California judge has cracked down on a company that provides upfront cash in return for future military pension payments, awarding a total of $2.9 million to 63 veterans in a class action lawsuit. “ http://www.aarp.org/money/scams-fraud/info-08-2011/judge-voids-military-pension-buyout-deals.html “About 1.5 million veterans received about $40.3 billion in pension payments from the Pentagon last year, making them an attractive target for companies that place ads online and in trusted military publications. No one knows how many veterans put their pensions up for ready cash. "These cash payments are rip-offs, providing the veteran only a fraction of what the benefits are actually worth," Ohio Attorney General Mike DeWine says in a resource guide for veterans and military personnel. "They are illegal." There are many similiar outfits on the net who would be happy to assess what your rates and payout would be. Link to comment Share on other sites More sharing options...
carlie Posted November 21, 2011 Share Posted November 21, 2011 My reply isn't emotional -it is the facts: "A California judge has cracked down on a company that provides upfront cash in return for future military pension payments, awarding a total of $2.9 million to 63 veterans in a class action lawsuit. " http://www.aarp.org/...yout-deals.html "About 1.5 million veterans received about $40.3 billion in pension payments from the Pentagon last year, making them an attractive target for companies that place ads online and in trusted military publications. No one knows how many veterans put their pensions up for ready cash. "These cash payments are rip-offs, providing the veteran only a fraction of what the benefits are actually worth," Ohio Attorney General Mike DeWine says in a resource guide for veterans and military personnel. "They are illegal." There are many similiar outfits on the net who would be happy to assess what your rates and payout would be. Berta, Thanks - I couldn't find the link and here you are - right on spot : - ) Link to comment Share on other sites More sharing options...
billy2 Posted November 21, 2011 Share Posted November 21, 2011 I don't think you can sell your disability papments because they stop when you die. Link to comment Share on other sites More sharing options...
jvretiredvet Posted November 21, 2011 Share Posted November 21, 2011 As another mentioned, a sale or "assignment" prolly isn't authorized. 38 USA 5301 Pt IV Chapter 53 seems to address this issue http://www.law.corne...01----000-.html . 5031(a)(3)(a) prohibits assignment for "consideration", which a sale or transfer to some structured settlement company would be. Howsomeever, 5301(a)(3)(b) does not prohibit what would be a two-step procedure. That is, a veteran gets a "loan" (with the principle likely based on the current level of compensation and life expectancy). The veteran continues to receive his/her VA comp but in turn pays the entire amount against the loan. Any lump sum or loan would likely be low because: (a) the veteran may kark at any time and the benefits would stop; and (b), while actually very unlikely, the level of benefits may decrease. All in all, a pretty stupid move IMNSHO. I am wondering if anyone has sold their VA disability pension for lump sum of cash? Or can share and information about the process. I am not concerned about the economic factor of managing my monthly expenses. I have multiple income sources. I am more interested in how to find the best quote or what the normal range is. Link to comment Share on other sites More sharing options...
mos1833 Posted November 21, 2011 Share Posted November 21, 2011 i drew a pension , but it ended when i got ssdi benifits Link to comment Share on other sites More sharing options...
carlie Posted November 21, 2011 Share Posted November 21, 2011 I don't think you can sell your disability papments because they stop when you die. That's exactly why these thieving companies have the claimant purchase a life insurance policy - naming them as the beneficiary. ( I guess they aren't really "thieving companies", if someone in their right mind that fully understands the contract - makes the choice to sign it.) JMHO Link to comment Share on other sites More sharing options...
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