Published on April 27th, 2016 | by Day Trader
One Third Of All Americans Struggle Paying Their Bills On Time How You Can Reduce Your Debt
It’s difficult trying to get your life in order when you have medical bills, student loans and monthly expenses breathing down your neck at all times. Know that you’re not alone — debt is one of the most pervasive problems affecting American adults of all demographics today and many search for ways to reduce their debt and get back in confident, stress-free financial standing. If you’re looking for a reliable and efficient way to tackle your debt in bite-sized pieces, look into getting cash for your structured settlement. To sell fixed annuity is to turn your debt around and put your life back into your own hands. Let’s take a look at the most common forms of financial struggle and how you can learn to invest your money in annuity payments or structured settlements.
Medical Bills And Bankruptcy
Let’s start off with medical bills. There has been a reported daily average of 3,400 bankruptcy filings, starting from February of 2015 and onwards, due to rampant medical bill-related debt. 64 million people, around 35% of the American population, said they had trouble paying their bills due to imposing medical bills. A whopping 20% of credit reports, as well, are hurt by overdue medical bills and can impact people significantly when applying for a loan or trying to buy a car.
Credit Card Debt And Stigma
Where there are medical bills there is credit card debt. The average American household will have at least 13 payment cards and many consider credit card debt to be a particularly pervasive stigma. Outstanding student loan debt and medical bills can negatively impact an individual’s credit score and make it harder for them to apply for the loans and assistance to get them out of debt. Nearly one in five Americans between the ages of 18 and 24 describe themselves as being in ‘debt hardship’, with a recent survey revealing only 37% of their credit card holders pay their balance in full each month.
Household Mortgage And Interest
Last, but certainly not least, a significant portion of homeowning Americans find themselves struggling to catch up on their mortgage and homeowning fees. The average cost of a new home is around $270,000 and the majority of mortgage lenders will require a down payment of 10% or 20% of the sales price. Although household income has grown by 26% in the past 12 years, the cost of living has more than doubled in the same amount of time. The average household is paying at least $6,000 in interest every year, which is nothing to say of additional debt and accumulated fees. Across the average household American adults owe an average of $11,000 in student loans and $8,000 in auto payments.
Sell Fixed Annuity
So, how can you sell fixed annuity and get your crazy life back in order once more? One of the best things about selling an annuity settlement is its flexibility — they’re available in varied lengths and payout periods, such as the following 25 years or until death. If you find yourself lucky enough to win the lottery you can apply for a lottery lump sum payout, to better balance out your earnings and apply them where you need them most. There are many ways to reduce debt, but only a few that are reliable enough to get you out of a pinch and back into the green. Next time you’re looking for solutions, apply for a structured settlement payment and start breathing a little easier.