So, what do you do when you are facing some sort of financial crisis and are “expecting” to win a structured settlement, but haven’t finished the court or settlement process yet? Many people would answer that you’ll just have to try and hold off those creditors, wait on that medical procedure, or pass on that business venture until after you’ve won your settlement. To put it simply, that’s just not true. You do have the option of applying to various companies to take an advance out on the estimated value of your settlement. Sounds easy. It is. Sounds quick. It is. What it isn’t.. is cheap.
For this article we are going to be looking at the “Pro’s” of advance funding on your future structured settlement payments.
Low to no risk to you. If you do elect to apply for an advance on your payments but, for one reason or another, you don’t win your case you have no obligation to repay the amount of the advance.
Cash as fast as possible. If you were to choose to sell your payments after the settlement has been made it can take between 45 – 90 days to go through the court process. However, with an advance prior to the settlement you can often find a lender able to put cash in your pocket in as little as 72 hours.
Easier than a bank loan. If you are in need of money immediately and are thinking that your trusted bank will be there to help you out.. You’re often mistaken. But one thing to think of when considering an advance on your payments is that your credit has absolutely nothing to do with your application.
Buys you time. Often people will settle for a lesser amount simply because they need the cash immediately. With an advance you have the cash to wait it out for the largest settlement possible. This could easily surpass all payments and fees from the advance while leaving you with a nice extra lump of cash.
Take care of medical problems now. With an advance on your future settlement you can have peace of mind when it comes to medical procedures and bills. Why wait for something that may not be covered by your insurance when you can get cash now to take care of your medical problems?
Remember, when taking a loan or advance you should always take the time to calculate the amount you need- not the amount you want. Many people make the mistake of asking for more than they need for some luxury item and end up paying much more than they needed to in fees, costs, and interest. Keep in mind that anytime you get loan or advance, the cash you get will cost you something. And the more you get, the more it costs.
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.
Tags: cash for structured settlement, sell payments, sell settlement, sell structured settlement, selling payments
