If you have a structured settlement that has not yet been paid, you may find yourself frustrated at your lack of access to your new fortune. While it’s good that you will eventually be receiving periodic payments for your hardships, it’d sure be great to turn your settlement into a lump sum to follow your dreams and live a stress-free life.
Thankfully, there are experts who purchase settlements and annuities for enormous lump sums, allowing you to gain control of your financial destiny and begin the life you’ve always dreamed of. A lump sum payment will meet all of your cash needs, and your living expenses will likely be covered for the foreseeable future, depending on how large your settlement is.
There are tons of options on how you can receive your settlement cash. One of the best ways to sell your periodic payments is pre-settlement funding. A pre-settlement cash advance is basically just what it sounds like; you gain access to your settlement cash now instead of having to wait out the lengthy court proceedings.
You can sell a portion of your settlement for a hefty lump sum, while holding on to the rest of it for tax purposes until you need another lump sum to cover additional living expenses. Fewer than 25% of Americans have enough savings to cover even six months of basic expenses, and 27% of Americans have no savings at all. By receiving a lump sum, you can avoid becoming another statistic and relieve yourself of any immediate financial burdens.
Another reason to opt for a lump sum is to eliminate debt. The average credit card debt in an American household is a whopping $7,200. If you have been involved in a court case for months (or even years in some cases), there’s a good chance you’ve already racked up a decent amount of legal fees. By receiving a cash advance on your settlement, you can be free and clear of pesky lawyers bothering you each month for your entire fixed payment.
Covering living expenses and eliminating debt are just two of the incredible benefits to selling a part of your settlement for a cash advance. Talk to a settlement expert and see what option is right for you. It could be the best thing you ever do for your future.