Sell Annuity Payments In Light of Uncertain Economic Future, Part II
- This was posted on November 30, 2008
In the last post we talked about a subject that has been on the minds and lips of people of all walks of life in the last weeks – the economy. We are all doing what must be done in our own households to make sure we are able to survive without getting too far in over our heads. And while everyone’s situation is different we all share the strong desire to make the best possible decisions for ourselves and our families.
As discussed previously, the option to sell annuity payments for a structured settlement recipient is not something that is new on the scene. When claimants are awarded money in a personal injury case and the money is entrusted to an annuity, the claimant then begins to receive scheduled, equal payments. This arrangement may or may not have worked for the recipient but if ever they choose to trade in all – or some – of their payments for the lump sum of cash they always have had the opportunity to sell their payments to a buyer of structured settlement annuity payments.
In this economy, this decision may prove to far easier to make; and, in fact, is something that recipients can turn to in order to help them get through what may be a significant reduction in cash flow, higher bills, vulnerable jobs, and the like.
In making the decision to sell annuity payments, there are several things the seller must consider including:
• The buyer of structured settlement annuity payments with which they will work. This choice is of the utmost importance as it can essentially make or break a deal. Look for a buyer of structured settlement annuity payments that has the reputation and the financial backing behind them, as well as offers of competitive rates and timely transactions.
• The number of payments that they want to sell. It is important to note that sellers are not selling their structured settlement; they are selling their payments. And they can choose to sell as many payments as they want to help them come up with the cash they need.
We all need a little help right now. And with our economic future still cloudy, having the cash we need to take control of our finances and our households can help us get through with dignity.
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