Let’s face it: at some point or another, you’ve probably dreamed about winning the lottery. In fact, surveys indicate that playing the lottery is the most prevalent and popular form of gambling across the country. So what happens if that dream does become a reality?
The most common thing for lottery recipients is to get stuck in some sort of annuity contract where the winner receives their payments in installments in a certain period of time. However, these contracts typically don’t sit well with the financial interests of many, as they would prefer to get their lottery winnings in a lump sum. Research shows that in 2013 alone, there were approximately 34.8 million deferred annuity contracts.
Selling an annuity settlement can allow you to get cash for your structured settlement up front, allowing you to have the money to buy a new car, pay off student loans, take your dream vacation or so much more. By getting your cash up front, you can start to get rid of any crushing debt issues — research shows that the total American consumer population is actually $11.91 trillion in debt. Read on to learn how to find a company that can help you with selling an annuity settlement.
Get Cash Now by Selling an Annuity Settlement:
- The first thing to keep in mind when looking for a company that you can sell your structured settlement to is credibility. The last thing you want is to entrust your lottery winnings with a fraudulent company that scams you and leaves you broke. A good place to start is online, where you can see the websites of various companies and also read reviews from former clients.
- Don’t just pick the first company you find that you can sell your annuity settlement to — while you may be eager to get your cash, you’ll be happier in the long run if you take the time to sit and compare the pros and cons of multiple companies. You want to look at not only the cost of services provided, but the expertise of the company itself.
- Once you find a business that seems OK to you, call and set up an appointment to come in and talk to a representative. That way, nothing is set in stone — you can always change your mind and go to a different business, but you can get a feel for the company and have some questions answered face to face.
Everyone lives different lives and needs money for different things, whether that be paying off medical expenses, a mortgage or treating yourself to something fun. You deserve to be able to have access to your money up front and to be able to spend it how you want it.
Have you ever gotten out of a structured lottery winnings settlement? Tell us about it in the comments below!