Often times individuals receiving structured settlement payments desire to receive a lump sum payment as part of their structured settlement. Black Rock Business Services, LLC matches Investors with these clients prior to the insurance company issuing a settlement check.
The management of Black Rock Business Services, LLC has negotiated agreements to provide monetary settlements to individuals who have sustained injuries and retained legal counsel to either negotiate or litigate settlements with Businesses or Insurance companies. These settlements are compensation for injuries sustained, pain and suffering incurred, as well as loss of income. Investors only invest in settlements in which an agreement with the Insurance Company has already been reached. No advances are given on cases of an uncertain nature.
Typically, it takes approximately 90 days from the time an agreement is reached with the Insurance Company and a settlement check is received. Many times, the plaintiffs desire to have a portion of their settlement immediately, rather than wait 90 days. Black Rock Business Services, LLC seeks out qualified investors to fund these advances promptly, so they do not have to wait 90 days for the Insurance Company to process their settlement checks. An investor’s money is secured by a lien on both the lawsuit and the settlement.
Loan amounts are $100,000. The duration of a loan is generally 90 days from the date of contract issuance. On a $100,000 loan, for example, the investor will receive $7,500 if the contract closes within 90 days. If, however, the loan extends out to 120 days, rather than the 90 days as explained above, the investor will receive an additional $ 2,500 in interest.
For investors who want to invest a lesser amount, we will accept $25,000 increments and put several investors together in one $100,000 package. On, a $25,000 investment, the investor will receive $ 1,875 if the contract closes within 90 days. If the contract extends out to 120 days, the investor will receive an additional $ 625.
When the Insurance Company issues a settlement payment on the case, it is deposited into the attorney’s IOLA Trust Account. Funds are then forwarded to Black Rock Business Services, LLC to be disbursed out to the client. At no time does the plaintiff receive the funds that will be paid out to the investor.
Prior to completion of a contract, the investor may request, with two weeks written notice, to receive the original amount invested back or may opt to reinvest it into another contract. If no written notice is received, it is assumed that the investor desires to re-invest the principle into another contract. No payments or refunds will be issued except at the maturity date of the financial instrument.