If you have a big expense coming up — a car, a wedding, or a new baby, for example — you may be looking for ways to get some extra cash. If you’re currently receiving a structured settlement, you may be able to sell some of your future payments for a lump sum of cash.
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Strapped for cash? Here are four surprising ways to help you make an extra buck or two.
We’ve all been in a position where we are living paycheck to paycheck, knowing that every dollar has to go toward something important.
This can be hard because sometimes all you want is a little extra money to go do something that you would enjoy whether that’s a sweet treat or a trip to the movies.
Just as the terms and structure of your settlement payments are unique to your particular situation, the decision to sell any or all of your payments in the structured settlement secondary market is one that must be determined based upon your personal needs and circumstances. The following advantages must be painstakingly weighed against the benefits you will lose and the financial impact the sale will have on you now and in the future.
A Large Lump Sum Now
“A bird in the hand is worth two in the bush.” Access to a large sum of money now may be far more appealing than receiving small payments over a number of years. Are you trying to purchase a home and paying with cash will net a much better purchase price than securing a mortgage? Do you want to start your own business or invest in a business that you will be actively involved in? Is there a new medical advancement that will greatly benefit your health that you need funds for? Do you wish to pursue a college degree to improve your circumstances or train for a new profession? These are some examples of typically sound reasons to sell structured settlement payments to access a large lump sum.