Everybody has random and unexpected cash needs that pop up from time to time, and not having the financial resources to meet these needs can lead to some serious consequences. If you’re the recipient of a structured settlement, you have the right to sell your fixed payments for a huge lump sum and face these urgent cash needs head-on.
There is a wide array of things that can happen on a daily basis that will cost you money, but the most common sources of urgent cash needs are medical problems and overdue rent. Selling your settlement will allow you to avoid hassling creditors and possible repossession of your most valuable assets. Here are just three of the ways that selling your structured settlement can get you out of a financial jam:
Medical debt. Health issues know no schedule, and you need to be prepared if anything were to ever happen. About one in four people say they now owe more in medical debt than they have in their emergency fund, and this is a common problem that can set you back years. To avoid this harrowing fate, you have the option to sell your structured settlement and eliminate debt in one fell swoop. This will give you more freedom to live your life comfortably without a giant debt looming over your head.
Rent/mortgage payments. Everybody needs extra cash, but some people truly need extra cash when threatened with eviction or foreclosure of their home. Over 40% of U.S. families spend more than they earn, and 27% have no savings at all, which makes this a disturbingly-common issue. When you access your settlement cash now, you can acquire the funds to pay for overdue rent and mortgage payments, as well as taking care of future payments depending on the size of your lump sum.
Fast pre-settlement advances. If your settlement is still pending litigation, you have the option to receive a pre-settlement cash advance and take care of urgent cash needs until your case is resolved. Often times, settlement recipients are forced to miss work during their trial, which can leave you in debt upon resolving your case. To avoid this, you can sell all or a portion of your future settlement to take care of these cash needs.
Selling a structured settlement is is a fast and easy solution to a complicated problem. Don’t fall victim to financial distress; talk to a settlement expert and receive a huge lump sum to take care of these unforeseen expenses.