Wikipedia describes Bulgaria as Europe's and possibly the world's first literary culture. As a massive soccer fanatic I am aware of the two of Balkan country's better known products, Hristo Stoichkov, who toiled for FC Barcelona, the MLS' Chicago Fire and starred in the 1994 World Cup and the highly coveted Dimitar Berbatov who stars for Tottenham Hotspur in the English Premiership.
However, one thing that Bulgaria is NOT known for is structured settlement experts.
Dobri Bozhilov of Sofia Bulgaria fails to "keep up the side" with this inartfully worded piece of misinformation:
"Structured settlements represent future money which in many cases is quickly depreciated through inflations, lost interest, etc. This particular financial instrument is worth much more as present money instead of future money. We can illustrate this point better by asking the following question: 'What is worth more, one hundred dollars today or one hundred dollars in ten years?'. By now you should be able to see exactly what structured payments are, and if managed correctly, they can help property owners save their homes." …Dobri Bozhilov.
Discussion
Structured settlements can represent both current AND future money. A variety of structured settlement payment options are possible. Depending on the annuity issuer or trust provider, payments can start within as soon as a couple of weeks, a month, or at some definite point in the future. A combination of payment plans can be combined and customized to the needs of the plaintiff or payee.
The instrument is not always worth more today than it is in the future. The example used to illustrate the assertion that money is worth more today than in the future is a poor example. If $100,000 were used to fund a single guaranteed structured payment that began in 10 years the amount of that structured settlement payment would be far greater than $100,000. The present value of receiving $100,000 today or having $100,000 fund a structure that pays out a lump sum in 10 years is the same provided the same discount rate is used. Another way of looking at this is that it wouldn't cost $100 to fund $100 in 10 years.
Selling structured settlement payment rights to save your home is a last ditch move if you have exhausted all other possibilities. If you find yourself into too much debt, due to over spending, be sure to address how you will compromise your lifestyle to take into account for how the lost guaranted income impacts your future financial security. Think it through first!
Years of Russian language training have taught me that Dobri's first name means "good". To that I say плох (pronounced Plochhh) Bohzi Bohzi Bop, Sh*tty Bop. How can you take anyone seriously whose webpage contains a link to "Paris Hilton Reveals NASA UFO secrets"?
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