Sell annuity for cash
There comes a time when life’s unpredictable situations force us to look for quick cash to attend to pressing issues. It could be that you need money for medical emergencies, school fee, pay a loan, house repair or to finance a business startup. This is the time when you sell structured settlement to get that quick buck.
What is a structured settlement?
A structured settlement refers to the weekly, monthly, or annually installment one receives from his investment. A structured settlement is also called annuity. Whenever you need money, and you don’t have any other alternative, you can always sell annuity for cash.
Before you sell structured settlement, it is mandatory you what it is worth. The calculation process is more than just multiplication. It takes into consideration how long your installment will last, and the installment amount.
How to sell annuity for cash
The first step to selling annuity for cash is to look for a good buyer. This can be done online or offline. When you get one, you need to ask as many questions as you can about your how to sell annuity for cash. There are several options involved; you can sell a part of it or your entire investment. This largely depends on how much cash you need.
Before you sign the contract and release your installments to companies that buy structured settlement, it is wise to talk to a lawyer or any financial advisor. They may provide you with valuable information including giving you an insight into the company you are selling for cash to. The company should also be able to provide you with the money at the quickest time possible
Once you sell annuity for cash, know that you have no more installments to look forward to anymore unless you sold part of it. You will need to make lifestyle changes and avoid debts or buying expensive items on credit. You might end up in the same cash crunch situation as before. Therefore, you need to make sure whatever you got from selling your annuity serves you well. If you are investing in a new business, you have to ensure it doesn’t collapse.
What if I don’t want to sell annuity for cash but need money?
When you don’t want to sell annuity for cash but need money, there is a way around that. You can go for a structured settlement loan. This is a loan given by factoring companies and use your structured settlement as the collateral. You won’t have to go through thorough vetting to check your credit or employment history. However, you will need to go through several steps including talking to an attorney and seek the court approval first. All this process could take up to 90 days.
One final advice, when you sell annuity for cash, know one thing; you need to have a solid plan for your future days (most probably when you have retired). Otherwise, you will end up stranded with nothing to help you out.