Sell Annuity Payments without Guilt
- This was posted on July 1, 2009
There are those things that when you consider doing them may fill you with trepidation; but the feeling may be based on something real or something not so real. That was my feeling whenever I thought about the choice to sell annuity payments. I had been getting payments from a structured settlement for about a year; the money came from an annuity and had been deposited there because I was awarded it in a personal injury case. I had never heard of a structured settlement. I thought when you were given money through the courts you were actually handed the money and sometimes you are. But most often you are given a structured settlement which means that the money sits in the annuity (kind of like a bank account) and you are given payments.
Just like I had never heard of structured settlements I had also never heard of selling annuity payments. I figured that the payments that I received were what I would continue to get, like it or not, and I should just be grateful. But the fact is that the money, while helpful, would have been far more beneficial to me if I had a bunch of payments at once. With that money I could pay off my credit cards and stop paying so much interest. As it was, I was only able to pay the minimum payment every month. When someone advised me to sell annuity payment I was nervous because it didn’t seem like something that I should be allowed to do. But it was!
I found out that the money is mine and if I wanted to sell annuity payments I just had to work with a buyer of structured settlement annuity payments. I would decide how many payments I wanted to sell (I figured out how many payments it would take to pay off my credit cards and that’s how many I sold) and then the buyer would give me money up front for them. I wouldn’t get those payments sent to me; instead the buyer would receive them. But I had the money I needed to make some real changes in my life.
Popularity: 13% [?]