If you have ever spent anytime watching children play it comes as no surprise that when you put several children in one room, competing for limited entertainment resources, accidents are bound to happen. Accidents big and small are an everyday part of life. But unlike childhood when a simple accident meant a broken toy, a skinned knee and some hurt feelings, accidents in the adult world can come with serious health and financial repercussions.
Dealing Accidents in the Adult World
Whether it be from cars or botched medical procedures, millions of Americans have had to go to court in order to receive remuneration, in the form of a structured settlement annuity, for their pain and suffering. Even if you do win in court, financial relief may not come soon enough. About 35% of Americans are having trouble paying their bills due to medical costs or other bills. For these American a structured annuity settlement may not pay enough money in a timely fashion.
Sometimes Winning a Settlement is Just the Beginning
Even if you have won an annuity in court it does not mean that the money will be readily available to you. Many times there isn’t enough immediately available cash in structured settlement payments. Depending on the annuity it can payout gradually over the course of several decades in increments that can seem almost incidental when placed next to a mounting pile of medical and consumer debt. Luckily there is hope for those who are in need of money to pay bills and make up for lost wages.
Selling a Structured Settlement
By selling your annuity you will be able to cash in structured settlement payments for a readily available amount of cash. With this new windfall you’ll be able to pay your medical bills or even invest your money in buying a new house, without having to wait the long years that it would take to receive the entirety of your settlement through an annuity. If you are elderly or seriously ill receiving money for your annuity may make sense as well.
Always Check With a Financial Planner
Before selling your structured settlement make sure to consult with a financial planner. Many times selling your settlements comes at a cost in fees and taxes which can vary on your locality. If selling your annuity still makes sense research relevant companies and their rates so that you can get the best deal.
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