Published on July 5th, 2016 | by Day Trader
Sell Structured Settlement Payments and Get Your Money ASAP
Have you recently won a lawsuit and are waiting for your payment? Lawsuits are already long, drawn-out processes that often require what feels like too much money and time to complete. The end of a lawsuit is usually (and unfortunately) as long and tedious as when it was an active case. One easy way out of this is to sell structured settlement payments to get cash for your settlement.
The same alternative works for lottery winners too. Did you know that if you win the lottery about 30% of it may be taken for taxes? Or that the Mega Millions lottery pays in 29 annual payments after your initial payment? The Powerball works the same way.
Why am I talking about the lottery? Lotteries are also structured settlements. Another way to think of a structured settlement is a structured settlement annuity. Whether you won a lawsuit or the lottery, you are going to have to wait a long time for the payout. Or you can sell structured settlement payments.
Settlements are often as damaging financially to the person who has to pay it as a lawsuit that goes public. Over 37,000 Americans a year use the money they received from a settlement. That’s not surprising, considering that the average settlement payout is about $324,000. Depending on the nature of the lawsuit you were in, the settlement money can be the difference between achieving a secure financial future and staying in debt. Maybe that settlement money can pay off your student loans or your credit card debt. All the more reason to sell structured settlement payments. You can join the 92% of satisfied people who sold their structured settlement.
Compared to navigating the lawsuit itself, selling your settlement is a relatively straightforward, easy, and fast process. First, you look for a company that will buy your settlement. Make sure that their discount rate is acceptable. You have to make the decision between waiting years for your full settlement payout v. getting most of it in cash now. Next, the judge presiding over your lawsuit needs to approve the sale. Once that’s done you just need to collect your cash from the company.
As with any important legal or financial decision (or any decision really) make sure that you educate yourself on your options before deciding. You did it before you started or joined that lawsuit, so you can definitely do it to collect your settlement money! Reading this post was the first step, but don’t stop here! Research more like this.