Too many Americans struggle with debt. Our country lives off of debt. You can purchase cars and homes that are out of your price reach, if you agree to take on a large amount of debt. You make monthly payments to this debt for many years. If you miss one of the payments, however, your credit is ruined and you are at risk of losing your car or your home. You are still left with the debt, even if you become unable to pay it. It will follow you for many years and it will prevent you from purchasing any additional homes or large purchases. Large amounts of debt often bring feeling of being overwhelmed and stressed.
In addition to the many Americans who struggle with debt, many people are also annuity payment receivers. You would think that if you won the lottery or received a large lawsuit settlement that you could easily get out of debt. However, this is not the case. Many lottery winners and lawsuit settlement receivers do not receive all of their money at once. Instead, they receive smaller, monthly payments for the life of the settlement or lottery winning. This can prevent the person from improving their life, making changes such as getting out of debt or investing money for a better financial future.
64 million people, or approximately 35% of the U.S. population said they had trouble paying bills or were stuck paying off medical debt in 2014. Even those people with lottery annuities are unable to get out of this debt. However, when you get cash for settlements, you are opening yourself up to the opportunity of getting out of debt and improving your financial future.
There was a daily average of 3,422 bankruptcy filings in February 2015. Most of these bankruptcy filings are those with excessive amounts of debt, who are attempting to improve their situations. Getting out of debt can be very difficult. When you get cash for settlements, you will still have some work to do to get completely out of debt. Selling your annuity is not enough. You must still divide your money and figure out who gets what. You may want to invest some of your money to increase your income. When you get cash for settlements, you want to plan for every dollar.
Those people who have always dreamed of starting their own business may find it difficult if they have debt. Getting necessary funding for a businesses can be difficult with less than perfect credit and any amount of debt. With all of the different ways to invest your money, many people prefer owning a business. When you own a business, you have the opportunity to create a business that will continue to provide you with profits for many years. The Kauffmann Foundation estimated that the average cost to start a business is approximately $30,000. When you get cash for settlements, you may have the ability to either pay off your debt to obtain a loan or to open your own business with your cash payout.
Cash in structured settlement payments can be very beneficial for many people. When you receive an annuity payment, you do not have much control over how you spend your own money. You can be in a large amount of debt and still unable to get out. You can have great ideas on how to invest your money, but without the available money, you are unable to do so. When you sell your annuity payments for a large amount of cash, you have the opportunity to improve your credit, reduce or completely eliminate your debt and to start a business or other investment opportunity.