Legal-Bay Says a NY Parking Garage Attendant Won the $7MM Lottery Jackpot, Getting $4.63MM After Taxes

The lucky winner, Gregory Velez, a New Jersey resident, said he was bored and took a walk to pick up a CASH4LIFE ticket because he was told there was a $7 million drawing that night. According to an article in the NY Post, he doesn't play the lottery regularly, "so he let the computer select his numbers on a $2 Quick Pick ticket — and didn't even bother to watch the drawing that night." It wasn't until the next day while he was talking to coworkers that they realized he may have won. He went back to the newsstand where the clerk told him he won. When the ticket was scanned, all six numbers had been matched – meaning he could receive $1,000 a day for the rest of his life. After he found out he won, he took the walk back to work and quit.

He was offered to either receive $1,000 a day for the rest of his life or one lump sum payout. He chose the latter, which came out to just a little over $4.6 million.

When it comes to lottery winnings, people are often offered long term structured annuity payments. There are also other cases with such payments, included medical malpractice, personal injury, wrongful death, workers' compensation, and cases involving minors. Clients who have long term structured payments for their settlements have been contacting Legal-Bay to try to buyout either a portion or all of their particular claim. With activity picking up in the company's Structured Settlement division, Legal-Bay has secured a funding partner and anticipates that they will be able to offer the lowest terms in the markets. Different pricing options will be offered based on a client's specific case.

For more information, please visit the company's website at http://lawsuitssettlementfunding.com/structured-settlement-funding.php to learn more about Legal-Bay's Structured Settlement Funding, or to apply for a free quote on your specific funding request.

Legal-Bay is prepared to assist clients who would like to cash out future payments through a partial or full lump sum buyout of their structured settlement award. Clients typically request a partial or full buyout due to reasons such as: medical expenses, surgical funding, college tuition payments, new schooling/training for a career, travel expenses, home foreclosure reconciliation or to purchase a new home, to purchase a new car, to start a business or make an investment, for house repairs or remodeling, and/or for family emergencies.

Chris Janish, CEO of Legal-Bay, commented on the recent news, "We are pleased for the NJ man who recently won the jackpot. With this news, we want to remind clients who need assistance with their structured settlement case that we are here to help them. Due to our understanding of a client's need for a partial or full buyout, we are prepared to assist them in whatever way we can."

Structured Settlement transactions come in different varieties. The following are just some of the cases that Legal-Bay offers Structured Settlement Funding for: Structured Settlements for Minors, Lottery Annuity Payments, and Structured Settlements for Personal Injury, Wrongful Death, Workers' Compensation, and Medical Malpractice.

To apply online, go to the company's website, at: http://lawsuitssettlementfunding.com/structured-settlement-funding.php

If you wish to speak to a live agent who can answer any of your settlement cash advance buyout questions, please call Legal-Bay's toll-free hotline, at: 877.571.0405.

For a full list of cases that Legal-Bay is actively funding, please visit the company's website at: http://lawsuitssettlementfunding.com/

Contact: Patty Kirby, COO/Head of Client Relations
Ph. 877.571.0405 Email: [email protected]

SOURCE Legal-Bay LLC

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