About 123 Lumpsum

By helping you sell some or all of your future payments related to structured settlements, annuities, pending lawsuits, and more, 123 Lump Sum claims they can provide you with the lump sum cash you need. Whether you need the money to take a vacation, buy a home, or consolidate debt, the company claims to help you “take control of your financial future.”

123 Lump Sum is based out of Fort Lauderdale, FL, and holds an A+ rating with the Better Business Bureau, with just 7 closed complaints over the past three years. Despite this, we were able to locate very few online customer reviews during our research. However, those that we were able to locate often referenced lengthy wait times to receive money.

How 123 Lump Sum Works

Similar to JG Wentworth, Peachtree Settlement Funding, and others, 123 Lump Sum can purchase your future structured settlement payments in exchange for a single lump sum cashout. However, though 123 Lump Sum specializes in purchasing structured settlement payments, they can also purchase payments related to annuities, pending lawsuits, as well as lottery winnings.

As a direct funding source, 123 Lump Sum claims to be “the leading purchaser of structured settlements,” and to “give you the most cash for your structured settlement payments.” In fact, the company claims that they can make the process “as simple as selling a car or a couch.”

As their name suggests, 123 Lump Sum claims to get you the money you need in three easy steps (see more about this in the Bottom Line section):

  1. Contact the company, at which point a financial expert will let you know the value of your future payments, as well as help you decide whether you should sell some or all of your future payments.
  2. Next, 123 Lump Sum will provide you with a customized offer.
  3. Finally, you can accept the offer, and 123 Lump Sum will get you your cash as fast as possible.

123 Lump Sum Pricing

While 123 Lump Sum quotes are free, the company will ultimately retain a portion of your settlement as profit. As a result, because each case is different and is based on a number of factors, you’ll need to contact the company to find out what your specific structured settlement payments are worth. However, they claim that they’ll “give you the best deal.”

With this in mind, based on our research, most structured settlement purchasers will generally charge a fee of anywhere from 10% to 20%, with some reports claiming much higher percentages.

Pros:

  • Claims to be the “the leading purchaser of structured settlements.”
  • Claims that the process is as easy as 1, 2, 3.
  • Can help you turn future payments related to structured settlements, annuities, pending lawsuits, and lottery winnings into lump sum cash payouts.

Cons:

  • Many structured settlement providers charge very high fees—sometimes as high as 50%.
  • For pre-settlement funding, many of these types of lenders charge exorbitantly high interest rates.

Bottom Line:

While 123 Lump Sum doesn’t necessarily appear to be a scam, there are a few red flags we uncovered during our research that you should keep in mind.

First, while online customer reviews were very limited, we did read several accounts that the overall process is not as fast as 1, 2, 3. This is because your cashout will be subject to court proceedings that must take place before you can receive your money. On top of this, we read several complaints of 123 Lump Sum holding a customer’s funds long after the court proceedings were complete.

Second, most of the images on the company’s website show people driving fancy cars, having fun on million dollar yachts, or taking the vacation of their dreams. It’s important to remember that going through a company such as 123 Lump Sum should only be used as a last resort, and only to pay immediate expenses such as medical bills or other emergencies—not for “vanity” purchases.

Also, as we mentioned in our Oasis Legal Finance review, if you choose to use 123 Lump Sum for pre-settlement funding, interest fees can accrue quickly if your case doesn’t settle as fast as originally planned, leaving you owing much more than your original “loan” amount.

Finally, it appears that 123 Lump Sum and Structured Asset Funding are the same companies, as both have the phone number 877-Y-not-noW (966-8669). Unfortunately, we were unable to locate any rationale as to why this split occurred, as both companies offer the same services.

Bottom line: If you’re looking to sell your future payments associated with a structured settlement, you may want to choose another, more upfront company.

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7 Customer Reviews for 123 Lumpsum

Average Customer Rating: 1.6
Rating Snapshot:
5 stars: 0 4 stars: 1 3 stars: 0 2 stars: 1 1 stars: 5
Bottom Line: 14% would recommend it to a friend
Showing 1-7 of 7
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  • 3 out 4 people found this review helpful

    Worst business, liars, scammers.

    • Granite Falls, MN,
    • Dec 18, 2015

    I called to sell my annuity in May 2015. They sounded nice and made a low offer, but I needed the money and used them. They promised 30 days they would be done. So, September came and was almost gone when I found out I had just got a court date. I was never notified by them ever, also the court date was a month away yet and I called multiple times to see who their lawyer was to which I got a response that they would not know until the court day because of the council of lawyers they use. So I went online printed out my own copy of the court date and it had the lawyers name on it, yet they wouldn't tell me who it was going to be. Time after time, threw out the whole thing, I got transferred to voicemail, after voicemail, was promised a call back to answer my questions which never happened. They also promised since I was using them, they would spin a wheel of great prizes  (on the brochure the smallest prize was three gift cards to restaurants and businesses for 250 dollars, the best was a trip and hotel stay somewhere).

    Now I finally got my money on November 6, 2015 after judge signed paperwork on October 4. They also spun the wheel for me and I was told I won a 50 gift card, and would have it the following week. I never got the card three weeks later, so I called again and was told there was no record of it. Then they said I won a 25 dollar card, which I still have not received. This company is a scam, if I would have known they would not fulfill the things they promised and the trouble and hassle it has caused me I would have never used them. I would like to see a lawsuit against them for their scamming. I have been lied to on 90 percent of my calls to this company and been hung up on and put to voice mail when they will not give me time to answer questions about money that they have of mine that they make interest on. Do not use this company, very bad and not worth talking to.

    Bottom Line: No, I would not recommend this to a friend

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  • 4 out 5 people found this review helpful

    Horrible Corrupt Company

    • Baltimore, MD,
    • Nov 26, 2015

    This company will literally do whatever it takes to get your money. They will "move" you for the time being until you're seen by a judge in a county that they know you will be approved in. They will basically stalk you until they get you to cave in to selling your settlement. They will prey on you being weak and uneducated. Mean while most of their clients, including myself, are sitting here in need of money due to the circumstances of why I have received this settlement and they are sitting back building their money tree. Do not sell to this company, they are money hungry and they do not, I repeat, they do not care about your well being. Once they get all your money good luck trying to get a hold of them the next time you're in the hole.

    Bottom Line: No, I would not recommend this to a friend

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  • 3 out 4 people found this review helpful

    I've been treated terrible at 123 lumpsum

    • Indianapolis, IN,
    • Nov 17, 2015

    Let me start off saying as of November 10th, 2015, I still have not been funded by 123 Lump Sum. My case has been approved by the courts and the judge signed off on October 2nd. So I await until my life insurance was signed off as well. That happens a month later, then comes another issue on November 3rd that the judge has to resign documents for pointless reasons! They have no one to accept accountability. I keep hearing Brett Wadsworth is in charge and runs things but he has not returned one call or text in over two weeks. I'm really confused on the whole thing as it has totally been a disastrous transaction. I would not recommend this to anyone because they are very unprofessional to their clients.

    Bottom Line: No, I would not recommend this to a friend

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  • 4 out 5 people found this review helpful

    Crooks, they do not pay notaries they send to clients

    They call notaries at the last minute and expect you to run right out and get the job done for them. Good luck getting paid. They will lie and you will be lucky if you ever get paid. I had to hunt down the owners parents phone number and call them to get paid months after a job I completed.

    Bottom Line: No, I would not recommend this to a friend

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  • 3 out 4 people found this review helpful

    Bad customer service skills

    • Shreveport,
    • Feb 27, 2015

    I have had several encounters with customer service and they were extravagantly rude. The process as far as understanding goes is quite disturbing. If the people would explain the process better, I'm quite sure customers would be plentiful.

    Bottom Line: No, I would not recommend this to a friend

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  • 6 out 12 people found this review helpful

    Rip off! Others gave me way more

    • Jul 21, 2014

    I was dealing with structured asset funding with a deal and they were seriously ripping me off! my court date was scheduled and I went to the judge and the judge told me that I was getting ripped off and to call a few different companies. To my surprise I got a call from a guy named Michael Davis he was able to offer me $4,600 more for the exact same payments! if you want his number it is 561-512-3829. please don't get ripped off by structured asset!

    Bottom Line: No, I would not recommend this to a friend

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  • 5 out 5 people found this review helpful

    They were upfront with me and the price was not bad

    • Tennessee ,
    • Jul 5, 2014

    Josh Riviera helped me out start to finish completely professional the process took a little longer than I expected because of the courts but they helped me over with an advance. As far as I'm concerned I'm happy, it helped me out. I don't feel I lost much. Overall it went a lot better than I expected definitely work with josh he's great.

    Bottom Line: Yes, I would recommend this to a friend

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