Posted by bfnotary on 5/2/12 4:59pm
Msg #419661

What is an annuity signing..

I know it is probably a newbie question, But i am kinda still a newbie.. This is the first time I got asked to do an annuity signing tho. They offered me $40, and I politely declined...No way am I leaving my house for that. I would rather spend the time with my children. Plus the fax backs they require. Ha no way. But still curious what an annuity signing is? or is that a structured settlement?

Reply by Mark/SanJose on 5/2/12 5:38pm
Msg #419666

99% chance of a rip off

Most likely it is scammers (w/ attorneys) taking advantage of an unwitting simple person that's having a problem. They will pay you low to inflicted their shark-toothed deal with ink, then not pay you.

There have been reports of annuities with 15 year maturities being sold to 80 year old people. California state is currently investigating these "retirement investment" vehicles. I do not care what their fee would be, I need to sleep at night.

Reply by Karla/OR on 5/2/12 6:04pm
Msg #419670

Re: 99% chance of a rip off

I am far from my 80's, but I have a financial annuity through my financial planner - I'm perfectly happy with it. My planner said there are pluses and minuses to them. A person doesn't want to just obtain one from an on-line type company. Could be a disaster as Mark indicated.

Reply by Carolyn Bodley on 5/2/12 6:24pm
Msg #419671

Say you've won the lottery and elected payments over your

lifetime and not in one lump sum, or say you've been in an accident and get monthly payments, and then say all of a sudden you don't want monthly payments any longer but to cash out the annuity -- I know you've seen the TV commercials "it's my money ..."

I've done several. They are pretty simple, but some take going back 2-3 trips. Once I did one for an 18-year old girl wanting to go to college. You could tell her family had little money. Someone had died and left this young girl something like $25,000 that she would receive on her 25th birthday. It is usually a long, complicated process. In this case, the girl had to go to court and the judge had to issue a court order so she could get the money. Out of the $25,000, she ended up with a whopping $6,000.

Reply by Teresa/FL on 5/2/12 6:25pm
Msg #419672

You were probably contacted for a structured settlement sale

signing.

This is where someone has an annuity, which has scheduled payments for dates well into the future. The signer is selling their future payments at a steep discount because they need the money now.

These annuities are created when someone wins a lottery, or wins a lawsuit, or is the beneficiary of a life insurance policy, among other reasons.

Reply by MW/VA on 5/2/12 7:40pm
Msg #419685

Not sure from what you've posted, but it sounds like a "structured settlement". There are cos. out there that pay far less than the annuity (payments over an extended period of time) are worth. I've done some of those, and certainly not for $40. I wonder if it's the same co. that is more-or-less pushing Rikki from Inscribing Pursuits out of business. They are making huge profits on that product!

Reply by NJDiva on 5/2/12 8:27pm
Msg #419696

My thoughts exactly Marilyn...What's sad is that they'll

probably offer $35-40. Hmmmm, maybe Rikki's not so bad AFTER ALL?

It really makes me think. I was giving Mike a hard time about accepting the 30-40 page doc's for $75-85. At this point, we've probably seen the last of that.

We all know the saying..."Judge not, for how you Judge you will BE judged!!!"

That girl was right, gotta be careful about how you run your mouth!!! It always comes back to bite ya...eventually.

Reply by Yoli/CA on 5/2/12 9:13pm
Msg #419707

Was that SenecaOne, bfnotary? n/m

Reply by bfnotary on 5/3/12 8:12am
Msg #419733

Re: Was that SenecaOne, bfnotary?

I am not sure which company the annuity was from, Nations Direct is the one that called me. Someone in my area got it for 40...those suckers.. They tried to call my mom too. Lol they finally agreed to her fee. Then 10 minutes later called and said it was cancelled. (which means they found someone cheaper).

When they called me, they actually told me they were going to try to find someone for 40. If they could not, they would call me back. Lol. I don't particularly like working for them anyways. And I would never be desperate enough to work for them for $40.00...

Ring Ring....

Me: Hello..

Them: Are You using a blue pen?


Oh I hate that.

Reply by MW/VA on 5/3/12 2:46pm
Msg #419766

Ugh--Nations Direct! They are the ultimate low-ballers & I

will NEVER understand why anyone takes work for those fees. Yeeesssh!

Reply by bfnotary on 5/3/12 8:19pm
Msg #419809

Re: Ugh--Nations Direct! They are the ultimate low-ballers & I

I have only ever done one signing for them. and that is because they refused to meet my fee. The one I did for them they called me at last minute and paid my fee. (my fee still wasn't worth it).. So if they call, I quote them a higher price, because of the constant calling. They turn me down. And I move on with my day.

Reply by sigtogo/OR on 5/3/12 1:25pm
Msg #419759

did one for Structured Settlement recently

easy, maybe 40 pages, 4 notarizations. paid $80

Reply by bfnotary on 5/3/12 8:07pm
Msg #419806

Just wanted to thank everyone in the forum for the responses. I got a pm saying I could've said thanks for the responses. Sorry I thought in my one post I did say thanks, however, I have been pretty busy, I guess I didn't get that in. I jumped on a quick minute, saw that someone asked about the company. And put in the reply then got a call for a last minute signing. So I went and did that. I appologize.