Looking to get more out of your annuity, lottery, or structured settlement payments? Getting a large lump sum of cash can help you pay for things like college tuition, buy a home, pay off debt, medical bills, and other unforeseen expenses. Take that dream vacation or start your own business.
For years people have been buying and selling future payments from annuities, lottery winnings, and structured settlements. The practice of buying and selling payments is commonly referred to as the “cash flow” industry. In fact, Congress enacted laws in the early 80’s protecting peoples rights to . Now, that does not mean you have to sell all of your payments at once, or that you can only sell payments one time.
Often people choose to sell just some or part of their payments, retaining the remaining portion for supplemental income. There are some companies that buy your payments even if they are outside the guarantee period.
Settlement purchasing companies like Woodbridge Investments and JG Wentworth, have helped tens of thousands of Americans nationwide get the money they need and want now. Often the money received from the sale of future payments are invested in the purchase of a home, debt elimination, college tuition, and much more.
When selling payments from a settlement, annuity, or lottery, you are choosing to receive a cash lump sum of money slightly less than the total dollar amount of the total settlement. This is called a discounted amount. The reason that you do not receive the entire dollar amount of the awarded settlement or annuity is because the future payments you are selling include interest being paid to you that you have not earned yet, and inflation. A dollar’s value and buying power in ten years or even just 5 is not as much as it is today.
The interest that you would have earned in return for waiting months or years for your money is factored out and discounted from the total dollar amount. Remove any associated costs and fees, the time value of money, and you are left with what is referred to as your quote.
Your quote or appraisal is based not only on the discounted interest and fees, but on three other major factors. They are based upon how many payments you have, how much your payments are, and how many payments you have left remaining. Getting your quote or appraisal is fairly simple and straight forward. There should be no cost or obligation involved so be wary of any company who tries to pressure you, or have you agree to pay for or sign any agreements when first contacting them.
Inflation and increased costs of living, coupled with a slowing housing and job market have made the cash flow industry a vital and growing business in the United States. Many families have relied on the cash sum they received from the sale of future payments to be able to provide for their loved ones gifts such as a wedding, a new car, necessary renovations or improvements to an existing home. The money is also used to pay for bills and debt incurred as a result of medical expenses, a illness or death in the family, and exhorbitant interest on credit card debt.
Kelly T. a student at UCF used her lump sum from the sale of her payments from a personal injury settlement to pay for her college tuition after she was forced to resign from her job as a nurse.
“I had always wanted to go back to school, I didn’t have the time or the money. I was able to sell some of my payments to be able to pay for my tuition. I was able to earn my degree in business. Having a degree opened the door to all kinds of jobs that I previously was not able to get. Today I am still able to support myself, and my children, without having to worry about how am I going to t a job to pay the bills.”
In the case mentioned above an individual was able to invest in an education that will provide an overall better income and lifestyle. Each case, situation, and set of circumstance are unique. Different people have different needs.
When you are choosing to sell your payments from a annuity, lottery, or structured settlement, remember that you are in a position to make sure you are getting the largest lump sum possible. It starts with your quotes. Get as many as possible, and remember, many companies will meet or beat each other’s offers.
Establish your immediate needs and future goals, and determine how much you will need to achieve these. Remember, you do not have to sell all of your payments right away, how many you sell is entirely up to you.
Once you have decided to accept an offer to buy your structured settlement or annuity payments in writing, your transaction will be reviewed by a court. The court’s job in this transaction is to protect you the seller. The cour twill make sure that selling your payments is in your best interest and will not carry detriment to you or your family.
The time it takes to process your sale, and for you to physically receive your funds is approximately 60 – 90 days. Depending on where you live and what state your case was settled in, will also have bearing on the total length of time. Typically your funds are sent to you via a wire transfer, ensuring that there are no checks to be lost in the mail.
Learning about your available options is quick, painless, and easy. Don’t be afraid to ask questions. Make sure that you have gotten multiple quotes and that you understand everything you read or sign.
To learn more about how you can sell structured settlement, annuity, or lottery payments, and get the most for your money, call toll free 7-866-865-7044 today.
You have options. You do not have to wait months or years to get your money.. Get informed and get back on track today!
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