Why You Should Elect to Receive Cash For Your Structured Settlement
If you just graduated college, you might be a little nervous about all those responsibilities everyone’s been talking about throughout your entire education. They are finally real and they are knocking at your door. Not everyone is equipped to handle them as maturely as others, however, so a lot of college grads are at a disadvantage.
One option for young adults to solve some of their financial issues, is to sell any and all structured settlements to a company that will buy structured settlements.
But wouldn’t receiving money every year help my finances?
Maybe; it depends on your situation. If you have a great job, don’t have a lot of debt, and are very mature with your money, receiving annual payments could work great for you. It’ll be like another paycheck at the end of the year for being responsible. That’s not everyone’s situation, though.
Realistically, people struggle with managing their money. It’s a part of life. When that happens, taking a creative approach to your finances can be a smart solution. Receiving cash for your structured settlement can actually help you achieve a secure financial future.
Getting a lump sum payment — rather than smaller yearly annuities — can provide you with enough capital to handle the financial problems that might be plaguing you.
Every year, more than $6 million is paid out through structured settlements, to 37,000 Americans. Of all those who end up selling their payments, wholly 92% of them report being satisfied with their decision.
By getting cash for your structured settlement, you’ll have enough to, at the very least, significantly cut down your student debt. That’s one of the most fiscally responsible decisions you can make in your young adult life. Getting out of debt will allow you to live stress free later on and will end up saving you so much money in the long run. Rather than paying the minimum on your debt — which is a bad idea — and using your annuity payments to do so, get cash for your structured settlement and pay off all or most of your outstanding debt.
What else could I spend the lump sum cash on?
Pretty much anything you want, but you have to remember to be responsible. Blowing through a couple hundred thousand dollars can be easy if you’re not careful. While it’s tempting to splurge on a new wardrobe or an exotic vacation, it’s likely a better idea to invest in something practical like a down payment on a house or buying a new car.
If you’re generally responsible with your money, but need a little help to get out of a financial fix, look into getting cash for your structured settlement.