Sell Annuity Payments and Determine Priorities
- This was posted on January 28, 2009
For so many of us right now our financial world has been turned topsy-turvy. We have experienced dramatic loses in our retirement savings and even educational savings that we have created for our children and, while we know that there is time for rebound (if we are lucky enough to be far enough away from those events to recoup our gains), we are left with a bitter taste in our mouth about working, saving, and finding comfort in plans made.
Right now it just feels a whole lot safer to be buckling down and living with less; simplifying our lives and waiting out the economy. And for many people this type of living is reflected in living debt-free. What a feeling it must be to simply pay off all that we owe in credit card debt, car loans, and so forth; to know that while we may not have extra money we don’t owe anyone anything either.
The decision to sell annuity payments, therefore, is often a natural one for those who desire to pay off debt once and for all in order to have greater peace of mind in the months ahead. In order to be in a position to sell annuity payments you need to be receiving annuity payments from a structured settlement – a financial arrangement set in motion by the courts and meant to provide equal installments of settlement money to those who have been awarded a financial sum in a personal injury case.
The money in this case is put into an annuity and payments are made accordingly. And while this situation often works for recipients – as a supplement to their cash flow – it can be limiting when it comes to paying off debt. In such a situation the recipient can sell annuity payments to a buyer of structured settlement annuity who will give the seller cash for the number of payments sold.
With this type of money in hand, sellers can completely eliminate debt and hunker down in the months ahead.
Popularity: 17% [?]