Three Reasons You Should Sell Your Structured Settlement

Get cash now from settlement

If you currently have a structured settlement where you receive small payments over a period of time, you might be wishing you could just cash it in for one big payment. Fortunately, it is completely possible to opt for a lump sum by selling your structured settlement to a specialty finance company.

Here are three reasons you opt for a lump sum today by selling your annuity:

1. If you (or your kids) want to go to college.

College and other higher education are notoriously expensive. And your annuity payments might not be enough to pay tuition in time. A lump sum will allow you to finance your schooling (or schooling for your kids) and avoid being saddled with a lot of student loans in the meantime.

2. If you want to buy a house.

Buying a home requires a hefty down payment. By selling a structured settlement, you’ll be able to invest in a new house that increases your assets and net worth. Typically you have to surrender about 10% of your total payment when you sell an annuity but it more than pays off in the long run.

3. If you want to pay off credit card debt.

Credit card debt is one of the biggest factors that brings down your credit score and affects your financial future. The longer you hold onto debt, the more you pay in interest and the less likely you will be able to take out loans or make investments later on. The money you receive by selling your structured settlement annuity can be put towards making you debt-free.

These aren’t the only reasons to sell your structured settlement. If you opt for a lump sum payment, you can pay medical bills, invest in stocks or put money towards starting that business you’ve always dreamed of. Plus, 92% of people who sell their annuities for a cash payout are satisfied with their decision.

It’s also important to realize that it’s not a black and white choice. You have other options like selling part of your annuity to receive a partial lump sum payment. Whatever you want to do, it’s important to consider all of your payment options and negotiate what is best for your lifestyle and your future.

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