Believe it or not, structured settlements and lottery winnings share many similarities. As we all should know by now, structured settlements refer to monetary compensations through a constant allowance system, in other words payments are received periodically.
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"Winning the lottery was a completely amazing experience... Woodbridge Structured Funding, LLC helped make my dream a reality."
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Posts Tagged ‘sell lottery payments’
Selling Lottery Payments and Structured Settlements
Selling Lottery Payments to Get a Lump Sum
When someone wins the lottery, he or she is given the option to receive the prize in the form of periodic annuity payments. Most winners choose the annuity option over the lump sum and some states do not even offer the lump sum option.
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Why Sell Lottery Payments
Lots of winners decide to sell lottery payments because in order to make large purchases such as cars, houses, vacation packages, etc. Receiving small amounts of money each year does very little for people who dream big.
Think Carefully Before Selling Lottery Payments
Upon winning the lottery, you may have chosen to receive periodic payments spread over many years until you get the total amount of your prize. If you find yourself faced with an emergency that requires you to spend a huge amount of money, you can exercise the option to sell lottery payments for a lump sum.