On March 27, 2024 a
Exhibit,Appendix
was filed
involving a dispute between
J.G. Wentworth Originations, Llc,
and
Lincoln Assignment Corporation F K A Liberty Assignment Corporation,
Lincoln National Life Insurance Company F K A Lincoln Life Assurance Company Of Boston,
Yurhyness Evans,
for Special Proceedings - Other (Structured Settlement Tra)
in the District Court of Onondaga County.
Preview
FILED: ONONDAGA COUNTY CLERK 03/27/2024 03:35 PM INDEX NO. 003222/2024
DocuSign Envelope ID: 4ED2190F-EB32-483B-96D1-3644C046F7FC
NYSCEF DOC. NO. 6 RECEIVEDAccount
NYSCEF:ID: 2009198
03/27/2024
February 23, 2024
NEW YORK
DISCLOSURE STATEMENT
We will purchase the following payments (Purchased Payments) from You:
A) 1 payment of $20,000.00 on July 16, 2025 B) 1 payment of $26,261.50 on July 16, 2029
(THE REMAINDER OF THE PAGE INTENTIONALLY LEFT BLANK)
STATE DISCLOSURE FORM 1
FILED: ONONDAGA COUNTY CLERK 03/27/2024 03:35 PM INDEX NO. 003222/2024
DocuSign Envelope ID: 4ED2190F-EB32-483B-96D1-3644C046F7FC
NYSCEF DOC. NO. 6 RECEIVEDAccount
NYSCEF:ID: 2009198
03/27/2024
February 23, 2024
The aggregate amount of the Purchased Payments is $46,261.50.
The discounted present value of the aggregate Purchased Payments at the federal interest
rate of 4.80% is $39,128.80. The discounted present value is the calculation of the current
value of the transferred structured settlement payments (Purchased Payments) under
federal standards for valuing annuities.
The gross amount payable to seller (You) is $24,000.00.
No other expenses are incurred by You.
The net amount payable to the seller (You) is $24,000.00. The net cash payment You
receive in this transaction from Us was determined by applying the specified discount rate
to the amount of future payments received by Us, less the total amount of commissions,
fees, costs, expenses and charges payable by You.
The net amount that You will receive from Us in exchange for Your future structured
settlement payments represents 61.33% of the estimated current value of the payments
based upon the discounted value using the applicable federal rate.
BASED ON PRICE QUOTES FROM METLIFE INVESTORS INSURANCE
COMPANY AND PACIFIC LIFE INSURANCE COMPANY THE CURRENT COSTS
OF PURCHASING A COMPARABLE ANNUITY FOR THE AGGREGATE AMOUNT
OF PAYMENTS TO BE TRANSFERRED IS $40,969.14 AND $40,689.00
RESPECTIVELY.
Based on the net amount that You will receive in payment from Us and the amounts and
timing of the structured settlement payments that You are selling to Us, this is the
equivalent of interest payments to Us at a rate of 22.25% per year. PLEASE NOTE
THAT THIS IS NOT A LOAN, BUT A SALE OF PAYMENT RIGHTS AND THE
INTEREST FIGURE IS ONLY PROVIDED AS AN ILLUSTRATION OF THE
ECONOMIC IMPACT OF THE SALE.
Notice of Cancellation Rights:
You may cancel without penalty or further obligation, not later than the fifth business day
after Your receipt of payment from Us under the transfer agreement (Purchase Contract).
Please be advised there are no penalties or liquidated damages payable by You in the
event of any breach of the transfer agreement (Purchase Contract) by You.
STATE DISCLOSURE FORM 1
FILED: ONONDAGA COUNTY CLERK 03/27/2024 03:35 PM INDEX NO. 003222/2024
DocuSign Envelope ID: 4ED2190F-EB32-483B-96D1-3644C046F7FC
NYSCEF DOC. NO. 6 RECEIVEDAccount
NYSCEF:ID: 2009198
03/27/2024
February 23, 2024
Please be advised that You may be subject to adverse federal and state income tax
consequences as a result of the proposed transaction. You should consult Your own
counsel, accountant, or financial advisor regarding any federal or state income tax
consequences arising from the proposed transfer.
By signing below, You are confirming receipt of this Disclosure Statement at least 10 days
prior to You executing the transfer agreement (Purchase Contract).
#sign# SIGN HERE
__________________________________________________
YURHYNESS EVANS
STATE DISCLOSURE FORM 1
Document Filed Date
March 27, 2024
Case Filing Date
March 27, 2024
Category
Special Proceedings - Other (Structured Settlement Tra)
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Preview
FILED: ONONDAGA COUNTY CLERK 03/27/2024 03:35 PM INDEX NO. 003222/2024 DocuSign Envelope ID: 4ED2190F-EB32-483B-96D1-3644C046F7FC NYSCEF DOC. NO. 6 RECEIVEDAccount NYSCEF:ID: 2009198 03/27/2024 February 23, 2024 NEW YORK DISCLOSURE STATEMENT We will purchase the following payments (Purchased Payments) from You: A) 1 payment of $20,000.00 on July 16, 2025 B) 1 payment of $26,261.50 on July 16, 2029 (THE REMAINDER OF THE PAGE INTENTIONALLY LEFT BLANK) STATE DISCLOSURE FORM 1 FILED: ONONDAGA COUNTY CLERK 03/27/2024 03:35 PM INDEX NO. 003222/2024 DocuSign Envelope ID: 4ED2190F-EB32-483B-96D1-3644C046F7FC NYSCEF DOC. NO. 6 RECEIVEDAccount NYSCEF:ID: 2009198 03/27/2024 February 23, 2024 The aggregate amount of the Purchased Payments is $46,261.50. The discounted present value of the aggregate Purchased Payments at the federal interest rate of 4.80% is $39,128.80. The discounted present value is the calculation of the current value of the transferred structured settlement payments (Purchased Payments) under federal standards for valuing annuities. The gross amount payable to seller (You) is $24,000.00. No other expenses are incurred by You. The net amount payable to the seller (You) is $24,000.00. The net cash payment You receive in this transaction from Us was determined by applying the specified discount rate to the amount of future payments received by Us, less the total amount of commissions, fees, costs, expenses and charges payable by You. The net amount that You will receive from Us in exchange for Your future structured settlement payments represents 61.33% of the estimated current value of the payments based upon the discounted value using the applicable federal rate. BASED ON PRICE QUOTES FROM METLIFE INVESTORS INSURANCE COMPANY AND PACIFIC LIFE INSURANCE COMPANY THE CURRENT COSTS OF PURCHASING A COMPARABLE ANNUITY FOR THE AGGREGATE AMOUNT OF PAYMENTS TO BE TRANSFERRED IS $40,969.14 AND $40,689.00 RESPECTIVELY. Based on the net amount that You will receive in payment from Us and the amounts and timing of the structured settlement payments that You are selling to Us, this is the equivalent of interest payments to Us at a rate of 22.25% per year. PLEASE NOTE THAT THIS IS NOT A LOAN, BUT A SALE OF PAYMENT RIGHTS AND THE INTEREST FIGURE IS ONLY PROVIDED AS AN ILLUSTRATION OF THE ECONOMIC IMPACT OF THE SALE. Notice of Cancellation Rights: You may cancel without penalty or further obligation, not later than the fifth business day after Your receipt of payment from Us under the transfer agreement (Purchase Contract). Please be advised there are no penalties or liquidated damages payable by You in the event of any breach of the transfer agreement (Purchase Contract) by You. STATE DISCLOSURE FORM 1 FILED: ONONDAGA COUNTY CLERK 03/27/2024 03:35 PM INDEX NO. 003222/2024 DocuSign Envelope ID: 4ED2190F-EB32-483B-96D1-3644C046F7FC NYSCEF DOC. NO. 6 RECEIVEDAccount NYSCEF:ID: 2009198 03/27/2024 February 23, 2024 Please be advised that You may be subject to adverse federal and state income tax consequences as a result of the proposed transaction. You should consult Your own counsel, accountant, or financial advisor regarding any federal or state income tax consequences arising from the proposed transfer. By signing below, You are confirming receipt of this Disclosure Statement at least 10 days prior to You executing the transfer agreement (Purchase Contract). #sign# SIGN HERE __________________________________________________ YURHYNESS EVANS STATE DISCLOSURE FORM 1