- This was posted on March 3, 2010

In the last post I talked about the potential danger that awaited us in the face of our combined job loss. The economy had dealt a swift and mighty blow in terms of employment and we were by no means the only ones to have suffered job loss as a result. Now, however, we were in the position of having to figure out how best to deal with the financial ramifications. We were lucky not to have too much extraneous debt - we had listened to news of impending financial hardship and we had altered our spending accordingly; but still, we had debt from years of credit card use and the mortgage payments were beginning to fall behind. I had been down this road before. Financial hardship snowballs - once a payment is behind the next payment falls behind and so on until you are completely buried with no way to catch up without completely exhausting all of your financial resources - and then some. The choice to get cash from our structured settlement was the only choice we could make. We had annuity payments coming to us on a monthly basis from a personal injury structured settlement. While the money did help us month to month it was by no means doing all that it could to help us in this current financial situation. A buyer of structured settlement annuity would help us determine how best to use our annuity payments - by cashing them in for money we could use right now.

Working with a buyer of structured settlement annuity allowed us to get the cash for structured settlement payments that we needed; we simply traded in future payments for their cash value today. The money we received from the buyer helped us to pay off our debt, get caught up on all our payments and hopefully change the picture of our financial future.

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