When to Cash Out Your Settlement
When it comes to your structured settlement, there is really no time limit to cashing out, provided that you still have enough payments leftover to make use of it. However, there are other ways in which time can become an important consideration. Let's talk about how time can be of the essence when dealing with your structured settlement.
Debt has the bad habit of compounding itself, until you owe so much you have little choice but to file for bankruptcy. If you have a structured settlement, time is of the essence to avoid any interest and late fees from getting so high, your settlement may be unable to offer relief. The point is, if you are currently in debt, and you have a structured settlement, then there is no better time than right now to contact us for a free quote.
The value of your settlement is based on its current market value. This means when you receive a quote, its rates are subject to change, based on the performance of the economy. Just because your settlement is worth a certain amount now, is no guarantee it will be worth the same amount the following year. If you are thinking that you could use a lump sum cash payment today, there is no better time to ask for a quote. You can also use a structured settlement calculator to give you a general idea of its value.
Finally, you need to consider that there is a time limit on the investment potential of your settlement. Let's say that you've been taking payments for the past five years, and have just decided to sell the remaining for a lump sum. You have already lost five years of investment potential, which in terms of market value, could be thousands of dollars. When it comes to your investments, usually, the earlier you start, the more potential they will have.