and dont know where to turn, you are not alone. Millions of Americans dont have the funds
they need to handle an unexpected financial crisis. When faced with costly car repairs, medical
bills or unemployment, those receiving settlement payments can cash out to get the money they
need fast. 3-You Can Get Money from Your Settlement Faster Courts and financial entities typically award
structured settlements in cases where a large amount of money is awarded to a recipient,
and that sum is broken down into manageable chunks to be paid over the course of months
or years.
In the wake of an accident or wrongful death,
taking the structured settlement rather than a lump sum can be a good idea at the time. Many people with pressing financial needs
agree that for them, it is worth it to take a lump sum payment up front even though it
could mean collecting less money overall for the life of the settlement. Three of the last one hundred and two Powerball
winners elected to receive the lump sum in lieu of payments. 4-Benefits from Cashing Out - Have immediate access to your cash
- Gain ability to invest in a start up or house
- Get out of a financial crisis 5-Drawbacks of Cashing Out - Collect less money overall for the life
of the settlement - Lose an income stream
- Forfeit future payments 6-Getting a Cash Advance The terms of a settlement, such as the amount
and number of monthly payments, are determined by an insurance company for the purpose of
meeting the recipients financial needs in the coming years.The entire process of
selling your structured settlement payments takes 45-60 days.
But dont worry, we understand that can
seem like forever in an emergency. Thats why for qualifying cases we can get
you a cash advance up to $1,000 dollars in a matter of days. 7-Why Do People Cash Out Their Structured
Settlements? The question of whether or not to sell often
boils down to deciding between selling payment versus other funding options. One reason people choose to sell their settlement
payments over other options is because they dont want to have to pay the interest rates
associated with loans.
Others dont want to take on more debt in
the form of credit lines and cards, so they decide instead to pursue the option of selling
their structured settlement payments. Each individual has to decide for him or herself
whether selling their structured settlement payments is the right decision, but for many
people it is. 8-Americans Have Little to No Savings If you dont have a traditional savings
account stocked with cash, dont feel bad its not just you. Half of Americans say they couldnt pull
together $2,000 in 30 days in the event of an emergency, according to a report from the
National Bureau of Economic Research.Most Americans have a set amount they expect to
make each month and a set amount of bills they expect to have to pay and not much
else left to work with.
9-Costly Car Repairs The average cost for car repairs in the United
States is between $1,700 to $3,200 depending on which state you live in. When you consider that the average yearly
household income was $51,939 in 2014, that means that fixing a vehicle takes several
weeks worth of a familys income to pay for the cost. And unfortunately having a broken down car
doesnt mean you get a pass on normal costs like mortgage payments and electric bills. 10-Unexpected medical bills If you find yourself suddenly facing a costly
medical procedure or bill, youre not alone.
Twenty-four percent of Americans have experienced
a major unexpected medical expense in the past 12 months.Often, when your health is
on the line, no amount is too much. Indeed for every dollar spent in the United
States, 17 cents gets spent on healthcare. Even with health insurance, its possible
to find yourself in a bind..
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