News and Tips on structured settlement transfers.

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Before You Cash Out

So, you’re thinking that now might be the time to cash out your structured settlement.  You’ve got bills to pay.  There’s a business you want to start.  There’s an investment you want to make.  Is this a good idea?

Hopefully, you already know that selling all or part of your settlement will bring you less in a lump sum than you would have collected over time.  Maybe you’re prepared to accept that.  But, still, is it worth it?   Well, the only good reason to sell is if what you’re getting into will pay more than the settlement you’re giving up.  Consider the following situations; if yours doesn’t match any of them, you probably shouldn’t sell.

A Real Need.  It’s easy to tell yourself you really need money when you just really want money.  Money for a vacation or new gadgets is not a need.  Money to buy a new car probably isn’t a need if you can afford to repair the old one.  Money to pay for outstanding debts or medical bills might be a need, but will selling your settlement give you enough to do so?  And are you sure there’s no other way to get them paid?

Even if the sale of your settlement pays your bills, will it pay them all?  Or will more keep coming in the mail?  A sold settlement is sold, and gone forever.  If the sale won’t solve your problems in full and for all time, don’t sell.

A Backup Plan.  You probably got a structured settlement because you were injured, and the annuity is intended to take care of you – and your expenses – for a certain period of time.  Close your eyes and imagine your life without it.  Is there any other money coming in?  Do you have other savings?  If not, especially if your injuries have left you unable to work, you probably shouldn’t sell.

A Good Idea.  But you’re smarter than everyone else – you’ve got a no-fail business deal that’s going to make you rich.  Or, your financial advisor has told you about some secret new investment that will pay far more than any stocks or bonds available.  Really think about that one.  New businesses, even with the best ideas and backing, fail all the time.  And there’s no such thing as a no-fail investment.  Be particularly wary of anything a financial advisor says is “new,” or “secret,” or “undiscovered,” or anything else that sounds too good to be true.

If you need help selling your structured settlement, annuity or lottery payments,
contact us today. We are here to answer your questions and help you obtain the
highest possible price for your payments.

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