Are you receiving a structured settlement as the result of a favorable court judgement? If so, then you are probably receiving periodic payments as a result of the settlement. However, after fighting a lengthy court battle you may find yourself in need of cash now rather than accepting long drawn-out payments spread out over several years.
If you have found yourself in the situation where you need cash now, you may have considered selling your settlement in exchange for a lump-sum payment. While selling your settlement can get cash in your pocket now, it’s important to weigh all of the financial positives and negatives that selling bring with it.
Why Sell a Structured Settlement?
There are times when selling your structured settlement can make sense. If your personal injury has left you with a mountain of medical bills, you may find that selling your structured settlement is the only way to climb yourself out of the debt.
Selling your structured settlement can also give you liquidity that recurring monthly payments cannot. By having a large lump sum of money, you can invest it in a way that will enable you to quickly cash it out if the need arises.
You may also want to consider the time value of money. Even if your structured settlement increases with inflation, you may receive a better rate of return by selling your structured settlement and investing the lump sum payment. If you are considering this option, it is important to meet with a financial adviser to weigh the risks.
Selling Your Settlement
Before selling a structured settlement you should consult a licensed financial expert. It is not something to be taken lightly as you may find yourself regretting it later.
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