After a lawsuit or a lottery winning, money is usually doled out to the winners in structured settlements, designed to be paid out over a long period of time. Many people hear the good news of their successful litigation or lottery drawing with ecstatic joy at first, quickly followed by disappointment at the meager monthly payments.
But there is good news — you can sell your structured settlement payments and instead receive a lump sum for your earnings. Here’s why you should consider this solution to the problem of your small monthly annuity payments:
You Need the Money Now
Maybe you have overwhelming credit card debt or student loans, but if you need the money now, there is no reason not to sell your structured settlements. Once you are free of these financial burdens, you will be free to concentrate on what really matters — your life and your family.
You Have a Plan
Have you been waiting for the capital to start a business of your own? Do you have investments lined up and ready? This is a great reason to go ahead with your plan to get cash for settlements — after all, it’ll soon turn into more cash anyway. If you have a fully formed plan, it indicates that you understand the risks inherent and are willing and able to proceed.
You Want to Avoid Interest PAyemnts
Instead of taking out loans for big purchases like a house, school tuition, or a car, which would start accruing expensive interest immediately, why not simply pay for these major purchases in full? This could also potentially serve as an amazing investment for the future. Maybe you want to buy a house or a building, and if you pay for it in full you could start making a profit on it almost immediately by renting units out.
Whatever the reason, to get cash for settlements is a very reasonable choice, and many people decide to go with their route. Look into the details of your arrangements an make sure to weigh all of your options and consult a financial advisor before you do so.