Sell Your Structured Settlement and Rid Yourself of Student Debt
Receiving structured settlements can be great for some people, especially if they are struggling financially. It’s difficult to know how to handle all that money: where it should go, how much you’ll get, when you’ll get it, etc. There are a few payout options you can choose, but one that can benefit other parts of your life is to actually sell your structured settlement and get cash for your settlement.
By selling your structured settlements, you can get a lump sum of money. This cash can be used however you want. Getting a lot of money just sounds better than getting a little money over a long period of time, doesn’t it? Every year, more than 37,000 U.S. adults take advantage of structured settlement payouts and more than $6 million is paid to settlement winners across the country.
In one study, wholly 92% of all the recipients who sold their structured settlements admitted being satisfied with the decision to do so. These people enjoyed getting cash for structured settlements because it made more financial opportunities available. If they kept receiving annual payments, that money would likely not have amounted to anything substantial. But by selling their settlements — which have an average payout of more than $320,000 — they can do so much more with that cash.
Why You Should Get Cash for Your Settlement
This money will be completely up to you to decide what you’re going to do with it. It’s recommended that you handle your cash responsibly, but not everyone has the capacity to do so. You have so many options once you elect to get cash for your settlement. Here is one of the most important things you can do with the cash you got for your settlement:
Pay Off Debt!
No matter what stage of life you are in, debt can end up causing so many problems. If you have an opportunity to completely rid yourself of all outstanding debt — do it! It’ll be one of the best decisions you can ever make. It might be difficult to abstain from buying that flashy new car or travel the world immediately, but if you have a significant amount of student debt piled up, it’s better to rid yourself of it now than let it haunt you later in life. Who knows? Maybe you’ll still have enough left over to travel the world or buy your new car.