Published on April 12th, 2016 | by Day Trader
Struggling With Student Debt? Pre Settlement Loans Might Help
College graduates struggle. It’s inevitable. You had four years of college having – aside from school work and other personal stuff – relatively no responsibility. Now you are out of school and you have so much more to worry about. You might be one of the lucky ones who landed a sweet full-time job right out of graduation, but there are plenty of college grads who aren’t so lucky. You also have to pay your bills, your own health and dental insurance, vehicle expenses, and groceries.
All of those expenses certainly add up, and adding the amount of student loan debt on top of all that can make it seemingly impossible to handle all your finances effectively. In the United States, the average household carries about $129,579 in total debt and about 20% of young people – aged 18 to 24 years old – qualify themselves as being in “debt hardship.”
One of the options available to some struggling college grads is pre settlement loans. Structured settlements payout a large sum of money at once, rather than waiting years and receiving small payments annually through annuity payments. They should be used responsibly, because if handled incorrectly, you can be in much more trouble.
The average payout from pre settlement loans is more than $320,000. That amount of money going to a college grad in one lump sum can be extremely overwhelming. It’s responsible and recommended to use the minimum amount of money to cover all your expenses, and then put the rest of the money in the bank.
People who sell annuity payments for pre settlement loans are able to handle most of their debt, as well as cover any emergency expenses that may be required. In the U.S. every year, more than 37,000 Americans use money earned from structured settlements.
Being responsible with your payments and loans can save you down the line. It can help you maintain a secure financial future. There are plenty of college grads who have an insane amount of debt that could benefit from this payment strategy. It’s not for everyone, but taking a look at your finances and consulting with professionals can help aid you for the future.