Accounts Receivable Factoring

When Should You Sell Structured Settlement Payments?

Should you sell structured settlement payments or not? This is a tough question for anyone who has been awarded an annuity as recompense for a personal injury they have suffered.

Many people find that they want to trade their structured settlement for cash and have all of the money at once – the idea of having to wait ten or twenty years to get all their money doesn’t appeal to many.

But selling structured settlements is not as simple as you might think. You will almost certainly lose money on the deal, and you also have to demonstrate to a judge a good reason to sell your annuity straight away.

What is a good reason to sell structured settlement payments?

One good reason to sell might be because you think you would be better off investing the money in something more profitable.

This can be interpreted many ways; for example, you might want to invest in a business opportunity that you consider to have potential, or you might decide to invest in your own education so that you can get back to work in a new capacity.

Despite the loss you will have to take, a structured settlement sale might be a good idea in this case.

By obtaining a better education or by investing your money wisely, you could end up making a lot of money by selling structured settlement payments.

You might also wish to invest in a home, and a judge would very likely allow you to sell structured settlement payments in order to raise a deposit to put down on a property.

Although a new home isn’t going to bring in any additional income – you won’t be able to recoup the money as you would by investing in a business or career – a home nevertheless offers you security as you will always have a roof over your head.

For the same reasons, it would also be okay to sell your structured settlement in order to stave off foreclosure if you are struggling to meet the repayments on your mortgage.

Other debts too, such as a credit card bill or other loans you have taken out are solid reasons to cash in on your annuity.

Although you are going to lose money by selling, the very idea of being debt-free is worth its weight in gold.

Being in debt can be extremely stressful and this in itself is unhealthy, which is why anyone facing mounting debts is allowed to sell a structured settlement payment.

The last reason why many people decide to sell structured settlement payments is for medical reasons. Suppose you or a member of your family gets injured in an accident or becomes very sick. In that case, health is far more important than any amount of money.

People will do whatever it takes to make sure that they or their loved ones get access to the best possible medical care, and selling your annuity is often one of the easiest ways for many to raise the cash they need.

Judges will rarely, if ever, refuse an application to sell a structured settlement that cites medical reasons, so long as the reason can be proved. Although it may be a last resort, knowing you can sell your structured annuity is very reassuring. 

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