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annuity help

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sarayu281

Junior Member
What is the name of your state (only U.S. law)? AZ
I have an annuity with tiaa cref. It wasn't by choice but my employer whom I no longer work for. I have a 9,000 account that I receive 1,000 a year for the next ten years. I've been trying to get a lump sum cash payout but I am told it's not possible. I was and still are having a hardship. I was on the verge of losing my home of two years for eviction and loosing my car due to non payment. I told this information to tiaa cref and even sent them my eviction notice and 7 day tag and car repo letter. They told me because I was still in my home and my car was in my possession that I have not lost anything and it wasn't their fault I couldn't pay my bills. As of today 2/09/11 I have lost my home my daughter and I are living on my mom's couch (she is moving and now we have no where to go) I did loose my car to repossession and I have nothing. I was told by the company to get a lawyer and if I try to sell my annuity they will void it! This is horrifying to me. It was not my fault the economy crashed and my fiancee lost his job as an engineer and now we are almost in poverty level and I cannot receive my money.. this isn't a hardship to them. If I ever needed this money, I need it right now! I need some kind of help. Please any advice as to how I can get my money. Thank you in advance.
 


Betty

Senior Member
You might talk to an attorney - have them read the annuity contract. We can't read your contract & don't know what it might say in regard to a possible lump sum payout or a hardship payout & what qualifies as a hardship.

You can possibly get a no cost/low cost initial consultation with an attorney. You can contact your local legal aid society or local or state bar assoc. for a referral.
 

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