Is Selling Your Structured Settlement Payments for You?
A big question that comes across our desk almost every day, is the person wondering if selling their structured settlement is a good idea. Most structured settlements are created to protect the individual from financial burden, so wouldn't selling cause more financial stress? The answer to this question varies. However, there are several ways to know if selling your payments is for you.
You need a lump sum of cash now- There is no more obvious time to sell a portion of your structured settlement, than when you are in a difficult situation, and need the money now. A few of the more common situations from our clients are medical emergencies, mortgage debt, and getting accepted into a university, but declined for a scholarship.
You don't want to borrow the money- One of the first bits of advice you will receive when you need money, is to take out a loan with your bank. The problem with this, is it often involves putting yourself into debt with a second institution, while settling it with another. One of the best ways to dissolve your debt completely, without adding to it, is to sell your remaining structured settlement payments.
You're more concerned about your current situation, than your future- Your structured settlement was set up to protect your future. However, what if you need the money today? Unfortunately, in these situations, your payments will not be able to help. Your best option is to sell a portion of your settlement to take care of your problem, and then use your remaining payments to go back to planning for your future.
You've done your homework, and know what to expect- We do not recommend selling your structured settlement unless you are comfortable with the company you are dealing with, and feel like you've had all your questions answered to your satisfaction. If you know what you are going to get, understand how it is going to help your situation, and are confident in the company, then there should be no reason to hesitate.
The important thing to understand, is that you are never alone with these decisions at My Structured Settlement Cash. Contact us today, and we'll do our best to help get your finances back on track.