What are the benefits of getting cash for annuity payments?
Perhaps it’s from a lawsuit, or maybe it’s a lottery annuity, but you’ve found yourself with a structured settlement. You’re getting cash in regular payments, but it’s taking too long and coming in too slowly, and the monthly expenses are building — car insurance, medical bills, student loans, and other costs. You’ve done the best you can, but your only option has been to repeatedly charge these bills to your high interest credit cards. Now you find yourself in over your head with credit card debt on top of the mounting bills. In the past 12 years, household income has grown by 26%, but the cost of living has gone up by 29% in that same time frame. By selling your annuity, you can finally have access to the lump sum you need to pay off your debt.
Credit card debt and financial challenges affect an overwhelming number of American households. The average U.S. household that faces debt carries almost $130,000 in total debt, with over $15,000 of that being from credit cards alone. The truth may be even higher; as of 2013, actual credit card debt was 155% greater than what was reported by borrowers. Only about 37% of credit card holders pay their balance in full each month, and more than one-fourth of Americans admit that they do not pay their bills on time. One method to lessen the burden of credit card debt is to contact your issuer and ask about waiving the late fee or lowering the interest rate that is on the card, but this only solves a part of the problem.
This is where cash for annuity payments can make a difference. You can sell your annuity and get money that can help with getting out of debt. You don’t have to be overwhelmed by all of the money you own your credit cards on top of your monthly bills and all of the other expenses that come with owning a home. By selling an annuity settlement and using the cash to pay off your cards, you can wipe the slate clean and start over, free from the debt. Cash for annuity payments may be what you need to make a positive change in your life.