Need cash now? Find out how you can use your future payments from a structured settlement or annuity to get the money you need to pay off high interst loans or debt, without borrowing more.
Today’s volatile economy, rising gas prices, and deflated housing market have all played major roles in the current money crunch many Americans are now finding almost impossible to crawl out of.
With so many “get money now” schemes flooding individuals every day it can be hard to decipher which are legitimate and which are just taking you to the bank!
One surety for every American is that debt and its rising rates of interest hurt everyone. With foreclosures at an all time high, and the job markets flooded with applicants it may seem for thousands that there is no light at the end of the tunnel anytime soon.
Credit counseling agencies are available to most everyone, and can be a valuable tool in organizing and managing your debt. But how can you eliminate debt you have accrued becausee you used credit when you didn’t have the money. You can only pay off debt when you have the money to pay it.
Credit scores and credit history are some of the biggest factors preventing many people from getting the loan they need to purchase a home, buy a car, or pay for tuition. For some, there is an age old way to pay your bils and get ahead. Sell your assets or some of them.
One way to do this is to hold a garage sale, sell your home, or liquidate your investments. But what if you had another option availalbe to you?
For people receiving payments form a structured settlement, annuity or lottery, there is an alternative solution. Your future payments are your asset. You can use these payments to get back on track and get back on the road to financial recovery. There are companies who will buy strucutred settlement payments either in part or wholly.
For many others, the availablitly of a large lump sump to invest elsewhere will yield a better long term investment income than small contributions to another source.
Deciding which avenue of investment should be carefully researched and consulting a financial or investment planner is always recommended. Remember that there are cerrtain tax laws that will dictate which rout is best for you and your particular situation.
However, if you are among the thousands of individuals struggling every day to not only get ahead but just to stay afloat, and your income is paying high interest credit cards and debt, yu may want to consider using your assets to rid yourself of these cumbersome and draining rates and fees.
Selling some or all of your future payments from a structured settlement or annuity may be the best way to put your assets to work for you today instead of tomorrow.
You don’t have to wait years to pay off your education expenses, credit cards, or medical expenses. Why pay more than you have to? With interest compounding, your debt will only increase over time, especially if you can only afford to make the minimum payments.
The Helsing family is a terrific example of how selling structured settlement payments can be the best solution for long term financial well being and immediate relief of rising debt.
Three years ago, Dan Helsing was injured in a automobile accident. He was awarded a large settlement that was paid to him in small periodic payments over time and would continue for the next 20 years.
Although he is now able to work again and support his family, the credit card debt the family had built during his inability to work, and the medical expenses not covered by insurance were draining the family financially and emotionally every day.
Mr Helsing sat down with his calcualtor and and pencil and discovered that nearly 37% of his income was going to pay interest on crdeit card debt every month, and yet never seemed to make a dent in the bill. To add insult to injury, his settlement payments were just enough to cover the interest alone! How was he ever going to pay for their son’s college tuition?
His answer came from a friend who told him he could sell some of his paymnets for a large lump sum , keep a portion of his payments and pay off all his debt. No more throwing money out the window that could be used to save for tuition and getting ahead on current bills and expenses.
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