Settlement recipients often have plenty of questions, but the court system doesn’t do an adequate job of explaining your rights before you accept fixed payments. Can I sell my structured settlement? Do other people sell theirs? What can I do with the money?
Asking these important questions is the first step in securing your financial future, and you need to be well-educated on all of your rights as a settlement recipient. If you want to eliminate debt, cover increased living expenses, and live the life you’ve always wanted, you can access your settlement cash now by selling your fixed payments for a huge lump sum.
Before you can take advantage of this quick cash option and start transforming your life, there’s a few essential things you need to know. Here are the first three questions you should be asking about your structured settlement:
- Can I sell my structured settlement for a lump sum? Depending on where you live, there is a very good chance that you are eligible to sell your structured settlement for a huge lump sum. Currently, only three states (New Hampshire, Wisconsin, and Washington, D.C.) do not have Structured Settlement Protection Acts, which means that residents cannot sell their settlements. However, if you live anywhere else in the U.S., you have the right to seize control of your financial destiny and sell your structured settlement.
- Do most people sell their structured settlements? Of course, why wouldn’t they? In a recent American International Group (AIG) survey, more than 65% of respondents said that they would rather have a lump sum payment instead of structured payments. Receiving tiny fixed payments won’t have much of an impact on your quality of life, and there’s a reason that most lottery winners opt for a lump sum instead of annuity payments.
- What can I do with the lump sum from my structured settlement? There is truly no limit to what you can do with your huge lump sum, and the ways you decide to use your money could change your life forever. The average household credit card balance is almost $7,200, and approximately 76% of of Americans are currently living paycheck-to-paycheck. If you’re tired of mounting debt and need some financial breathing room in your life, you need to sell your structured settlement for a huge lump sum.
These are just some of the most common questions asked by settlement recipients, but you may have several more. Talk to a settlement expert who can answer all of your questions and provide you with a quote for your settlement.