There are many things that we, as consumers, can do to better organize our finances and get back on track – no matter how far we may feel that we have slipped. Everyone gets into a financial jam every now and again; none of us are above getting into a tight spot. In fact, it is to be expected throughout a lifetime that – for most of us – is fraught with financial ups and downs. The point is not that we got into the mess; our honor lies in how we get out of it. And for those of us who are able to be strict and dedicated to paying our bills on time, lowering our monthly payments, and ultimately wiping out debt, we will ultimately be in a better position in a very short amount of time.

Often we look to come up with a particular amount of cash that we can use to help us get out of our predicament. This may be a consolidation loan, or even a personal loan for family – but no matter how we go about it, the point of the money is that we use it to eradicate debt so that we can essentially move on with our lives. For those who are currently receiving structured settlement payments, the way in which we can come up with the cash that we need is through the decision to sell annuity payments.

By deciding to sell annuity payments we are able to trade in our payments for the lump sum cash in hand that we need. Structured settlements are nothing more than scheduled equal payments that are utilized to pay out a settlement reached in court. The payments are made from an annuity. Those who choose to sell annuity payments look for a purchasing company. This buyer of structured settlement annuity payments will take ownership of the specified number or portion of structured settlement payments for sale and the seller will have the cash in hand that they need.

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When we have work done on our homes most of us collect bids or estimates from a number of different contractors before making a decision about who to hire. After all, going with the first person we meet with can ultimately mean that we miss out on significant savings; savings that could have been realized had we taken the time to shop around. This same philosophy can be extended to most areas in our life; by taking the time to look around, educate ourselves, and explore our options we can ensure that we are getting the best deal that we can and saving ourselves time and money.

Even the sale of structured settlement payments requires some research. Those who are currently receiving structured settlement payments have been awarded money in a court case; rather than giving you all the money at once, the court has given you a structured settlement meaning that your money is paid out through equal scheduled installments. Structured settlements are very common in modern court proceedings and most of the time recipients do well receiving these payments.

Should you require a lump sum of money in the future however, to meet financial obligations such as medical bills, debt, education expenses, etc., you may decide to sell annuity payments. Many recipients choose cash for structured settlements when they need a lump sum of money. This sale means working with a buyer of structured settlement annuity payments that will turn over a lump sum of cash in exchange for the right to receive the number or portion of payments being sold.

This is not to say, however, that sellers should automatically go with the first buyer of structured settlement annuity payments that they meet. It is actually imperative that potential sellers gather estimates from potential buyers to see what they will offer in exchange for the number or portion of payments being sold.

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When we are in need of money we often find it hard to think clearly; everything may seem like a struggle and a burden and we are left confused about where to turn and who is likely to be the best resource in getting us the information that we desire and the money that we need. Of course every situation is different and for those who choose to turn to a conventional loan in order to procure the money that they need, those financial lenders through which the loan will be procured will ultimately lead the applicant through the process of applying for the money and hopefully getting that money.

For those who are currently receiving structured settlement payments, the need for a lump sum of money may result in the choice to sell annuity payments. Through this process, those who receive structured settlement payments as a result of a court case (a settlement derived from a personal injury case or wrongful death suit through which the claimant is awarded money that is paid out through equal, scheduled payments) can choose to sell some or all of their payments to a purchasing company.

It is incumbent upon a reputable buyer of structured settlement annuity payments to walk the seller through the process of selling their payments. Structured settlement payments are made from an annuity that is set up by the defendant in the case – the financially responsible party. While the recipient cannot sell the annuity, they can sell the payments in order to get cash for structured settlements. Depending on the amount of cash that they need, they may choose to sell only a certain number of payments or a portion of payments – or in some rare but extreme cases they may need to sell all of their future payments. The buyer of structured settlement annuity payments will walk the seller through each option to help them determine the best course of action.

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In the last post we discussed getting cash for structured settlements when a homeowner is in need of money for renovations.

Structured settlements are those financial arrangements that are mandated by the court system when someone is awarded money in a personal injury or wrongful death suit. If this person is declared to receive financial restitution – especially if it’s a large amount – the court may decide to payout this money through a structured settlement which is nothing more than a payment plan. Instead of getting all their money at once, the claimant receives scheduled equal payments that are made from an annuity; it is the defendant’s responsibility to purchase this annuity and fund it so that it can adequately make payments.

The claimant does not own the annuity but they own the payments and if they decide at some point that they are in need of a lump sum of cash they may choose to sell annuity payments for the cash they need. This is not to say, however, that they are selling their entire structured settlement. In fact, the opposite should be true, especially when working with a reputable buyer of structured settlement annuity payments. The recipient should only sell the number or the portion of the annuity payments that they need to cover the amount they require.

So in the case of home renovations, especially those big renovations that simply cannot wait - such as the replacement of a roof or heating/air conditioning system - the homeowner may choose to get cash for structured settlement payments to cover the cost of construction. They will approach a buyer of structured settlement annuity payments who will purchase the number – or portion – of payments being sold. The seller will receive cash on hand and the buyer will receive the right to a particular number or portion of upcoming payments. Once they receive those stipulated payments, any further payments are reverted back to the original recipient. In the meantime, they have the cash on hand they need to make much needed home renovations and still continue to receive their structured settlement payments.

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Times are tough and there are few among us who would dispute it regardless of what government entities may be telling us. We only know what we are feeling when we fill up our tanks, when we go to the grocery store, and at the end of every month when there is precious little left to do anything other than pay bills – if we even have enough for that.

The absolute last thing we need on top of everything else is a money pit of a house; you know the kind, in which something is broken every other day and that needs major renovations in practically every room of the house. What looked like a “charming” older property when we purchased it – something that could be restored to its former glory – now only looks like a big dollar sign in the face of all that we are struggling against financially. Now may be the time that homeowners are biting the bullet and taking big financial steps to realize their renovations needs.

For some homeowners they have found that now is the time to take advantage of what promises to be some of the lowest interest rates we are likely to see for some time. And so a refinance seems to be what is in order with some cash out for the renovations that we are planning.

However, for those who are currently receiving structured settlement payments now may be just the time to sell annuity payments in exchange for the cash on hand to tackle renovations. This allows those in need of a lump sum of money to basically have up front access to cash that is essentially theirs but which they would ordinarily have to wait for payments to arrive.

In the next post, we’ll discuss the ins and outs of structured settlements and the benefits of getting cash for structured settlement payments through a sale to a purchasing company.

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In the last post I related my own personal experience in having been awarded a structured settlement as the result of a personal injury court case. While the structured settlement payments I had been receiving had been adequate in meeting my financial needs I was determined to look into the option of getting cash for structured settlements by selling some of my annuity payments. This lump sum of cash would allow us to get out of the credit card debt that we had accrued while I was out of work after my accident.

Turns out, the buyer of structured settlement annuity payments is what’s known as a purchasing company. They will purchase as many structured settlements as you want to sell – or even just portions of the payments that you want to sell. This gives sellers cash for structured settlements and gives the right to receive the future payment to the buying company. If you have ever worked with a tax service during tax time this is much the same principle. There are some services that will do your taxes for you and if you are due a rebate from the government they will give you the option of getting your money immediately without having to wait; they in turn will issue you a check for your rebate money – minus their fees – and they will then collect your rebate when it is processed.

For those who wish to sell annuity payments, a buying company will give you the cash up front that you need to meet financial obligations including mortgage payments, medical bills, tuition, and the payment of debt. In my case I was able to sell annuity payments – just the exact number of payments that I needed to come up with the cash that would cover my debt – and be given the cash I needed to completely eradicate my debt. The buyer of structured settlement annuity payments that I chose will now collect those future annuity payments – I only had to sell four annuity payments to cover my debt – and after that I will begin to receive my payments again.

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I recently was awarded a substantial amount of money through a court case in which I was involved; a personal injury case due to some injuries that I had received in an automobile accident. The accident itself was a terrible experience and the ensuing time I spent recuperating was painful and difficult not only physically but also emotionally and financially. The money that I received was restitution for the damage to my personal property, the medical bills past, present, and certainly future, and the pain and suffering that I have experienced. I suppose it’s the understanding of most people that when you receive such a settlement they simply hand you a check at the culmination of the court proceedings. But in actuality – more often than not – your money comes to you through a structured settlement.

A structured settlement is basically a financial payment plan; your money is paid to you in equal, scheduled installments through an annuity; this annuity is purchased by the defendant in the case and is funded by them so that, in turn, the annuity can pay you.

I have been receiving my structured settlement payments for a few months and I have found them to be quite sufficient in meeting my needs until recently. Several weeks ago my husband and I really sat down and went over our finances related to this period in our life. Aside from the medical bills – just me being out of work for so long (we had no disability insurance) – resulted in a significant accruement of credit card debt, just to make ends meet in the household. While this money was taken into account when the settlement was awarded to us, the payments that we are receiving are not substantial enough to make the large payment we would like to make to the credit cards – to simply eradicate our debt and start with a clean slate. In fact, it makes little sense to me to be receiving payments if we are still accruing interest charges on our outstanding credit card debt. That’s when I looked into what it would take to sell annuity payments - a possibility that I had read about as being an option.

In the next post, I’ll explain how the decision to sell annuity payments worked for us.

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In the last post we discussed the pointlessness of putting away money into savings every month when you are carrying significant debt. The interest that you will accumulate having your money in a savings account is nothing compared to the interest that you are paying out when you put money towards your debt every month – especially if you are only paying minimum payments. The smart thing to do in this scenario is to put your savings plan on hold and put all of your extra money towards completely paying off your debt. By eradicating debt you are then free and clear to save money that is completely your own.

One of the ways in which to pay off this debt is by making the decision to sell annuity payments if you are currently receiving a structured settlement payment. Structured settlement payments are mean to satisfy a court mandated financial award and is done so through scheduled payments made from an annuity. Since the money that you are receiving is essentially your money it may make more sense – if you are facing significant debt – to put this money toward the payoff of your credit card debt. In this case, some recipients may choose to sell structured settlements in order to have the lump sum of cash on hand they need to make a large debt payoff.

Getting cash for structured settlements is not really the sale of the entire settlement; it is in fact the sale of particular annuity payments or a portion of annuity payments. A buyer of structured settlement annuity payments purchases a particular number of payments or a portion of payments; enough to give the seller the cash they need to handle their debt in its entirety. Once debt is eradicated, structured settlement recipients can receive their scheduled payments without debt hanging over their head.

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When it comes to personal finance, some of us have difficulty seeing the bigger picture. We may feel good that we are able to be disciplined enough to put money into a savings account each and every month. But if we are paying the minimum payments on significant credit card debt at the same time, then the savings account is essentially null and void. The smart thing to do, of course, is to suspend saving money and instead take those funds and apply them directly to paying off the credit cards, thus eliminating ongoing fees. Then, when all debt is eradicated, we can go back to saving our money – this time watching it accumulate rather than having it go right back out the back door.

For those of us – and there are many – who are unable to save anything but are still facing credit card debt and the accumulation of fees that comes with it, there may be other options including debt consolidation, home equity loans, or the decision to sell structured settlements. In fact, if you are in debt, making the decision to sell annuity payments may be the best decision you can make.

After all, the money you are receiving from a structured settlement is your money – having been awarded to you as a result of a court case. But at that time, the court determined that rather than giving you the entire settlement at once it would give it to you through scheduled, equal payments. The defendant in the case – the financially responsible party – was then required to purchase an annuity that they funded and the payments have been made to you through the annuity ever since.

While structured settlement payments are beneficial for many people, they may not make much sense in the face of escalating debt. Making the decision to sell annuity payments can help alleviate financial stress; we’ll look at how in the next post.

Popularity: 28% [?]

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There’s nothing worse than waiting for money that you know is due to come. If you’re like any of us, you are struggling to make ends meet every month and the promise of a check is great indeed, and certainly something on which we count. Knowing how long we will have to wait for payment of any kind is essential for us to make budget arrangements and plan bill payments accordingly. Ask the questions and know what you’re facing right from the start.

Making the decision to sell annuity payments is a big decision for anyone. After all, structured settlements – those arrangements made by the court following a court case – grant those who awarded money scheduled payments that are meant to cover their needs through the immediate future. Those who sell annuity payments do so because they are in need of a large amount of money; funds that they would only get if they were to receive several structured settlement annuity payments at once. By making the decision to sell structured settlements, sellers are essentially accomplishing the same goal. They are collecting the money for a particular number of payments all at once, and in exchange they are turning over the right to receive those payments to the buyer of structured settlement annuity payments they have chosen.

Getting cash for structured settlements doesn’t happen overnight however. Once you find a reputable buyer of structured settlement annuity payments it is important to work closely with them to understand their process. Sometimes a structured settlement sale can take up to 30-60 days to process and sellers should be aware that they may have to wait for their money for a period of time. Understanding the process of receiving your money is important prior to making the decision to sell annuity payments to any company.

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