An easier way to get cash for annuities
About us
Our mission
Provide a fair, flexible, easy way for annuitants to access cash from future payments that meets their specific needs and financial situation.
We want to help annuitants who need access to cash without pressuring them to sell their future payments. If someone only needs a small amount of cash, a decision to take a $500 loan against future payments is clearly easier than a decision to sell $25,000 of future payments. My Payment Source offers that flexibility while providing a great customer experience.
The opportunity
The structured receivables market is over $150 billion. Only 3% of 1 million structured settlement annuitants sell their payments. There are 5,500 outstanding annuities in the lottery market and only an average of 5 transactions per month.
With years of experience in the annuity market, My Payment Source recognized that the industry is not meeting the market need.
We understood that many annuitants who need cash aren’t selling their payments because they did not want:
A difficult decision on a large dollar transaction (average of $25K for settlements and $200k for lotteries)- A court visit and a lengthy sales process
- High discount rates
- A permanent decision to forgo future payments
- Hard sales tactics
- If there was an easier way for customers to access smaller amounts of cash, market penetration would dramatically increase.
