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Barrister
Barrister, Attorney
Category: Estate Law
Satisfied Customers: 36215
Experience:  16 yrs estate law, real estate. Wills/Trusts/Probate
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I have been assigned a qualified assignment through MetLife

Customer Question

I have been assigned a qualified assignment through MetLife from my father's wrongful death case settlement in 1990. I have sold a portion of the payments previously, and I am looking to sell another portion as well. I know the pros and cons of doing such thing, and I have worked out a great deal. In fact, most companies will not even touch the deal I currently have. With that in mind, the company I am working with is dragging their feet, and I believe they are doing so since they are not direct funders and need investors. They have given me the reason of, "...attorneys have found non-assignment language within the original settlement..." I have the original settlement that they are looking at, and I cannot seem to find this language. I have found language that points out that the periodic payments cannot be "...accelerated, deferred, etc...." My question is: If this language is in the contract, can I hold the previous company liable for reassigning payments that should not have been?
Submitted: 7 months ago.
Category: Estate Law
Customer: replied 7 months ago.
I have attached the original settlement for review. Thank you
Expert:  Barrister replied 7 months ago.

Hello and welcome! My name is ***** ***** I am a licensed attorney who will try my very best to help with your situation or get you to someone who can. There may be a slight delay in my responses as I research statutes or ordinances and type out an answer or reply, but rest assured, I am working on your question.

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Just a few minutes while I take a look at the document.

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thanks

Barrister

Expert:  Barrister replied 7 months ago.

That portion about being accelerated only refers to the defendant being forced to pay the amounts sooner than stated.

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However, later under that Clause 3 Plaintiffs' Righto to Payments it does state that:

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"nor shall the Plaintiffs have the power to sell or mortgage or encumber same, or any part thereof, nor anticipate the same, or any part thereof, by assignment or otherwise."

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So I would opine that legally you couldn't have done the initial assignment since it is prohibited here..

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But if you were to sue the previous company to void the deal, you would have to pay back anything that you received and they could argue that the statute of limitations may have run if this was done more than 4 years ago...

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thanks

Barrister

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