Reasons to Sell Settlement Payments for Cash Lump Sum

Receive More Money Sooner in a Lump Sum by Selling Your Future Structured Settlement Payments

If you’re awarded monetary compensation in an injury lawsuit, you may receive your money in the form of structured settlement payments, depending on the amount you’re awarded. Multi-million-dollar settlements, for example, are frequently awarded in the form of structured settlements, which provide plaintiffs with steady payments over a fixed time period. The details of a structured settlement, including payment amount and frequency, will vary by case.  Some people find that their structured settlements are not ideal, and although they appreciate the advantages of a long-term payment stream, they’d rather receive more money sooner and sell their future structured settlement payments.

Receiving more money upfront can make it possible to take care of large expenses, such as starting a business or buying a home. If you were awarded a structured settlement, keep in mind that there are other options available to you, and receiving some or all of your money in a lump sum may be possible. This means that if you do decide to sell your future structured settlement payments, you may have the choice of selling just a portion of your payments and keeping the remainder of your payment stream intact, or selling all of your payments to receive the maximum payout.

Contact MyLumpsum today at (866) 931-9321 to learn more about selling some or all your future structured settlement payments for a lump sum of cash.

People sell structured settlement payments for various reasons; the decision to sell structured settlement payments is an individualized and personalized one. Some of the most common reasons people sell settlement payments include:

To Buy a Car

If you need to buy a new car for your commute but you’re looking to avoid taking out an auto loan, selling future structured settlement payments can be a great option to consider. Depending on the value of your structured settlement payments and the cost of the car, you may only need to sell a portion of your payments. If you do prefer to take out an auto loan but need cash for a down payment, selling structured settlement payments can help you with this, too.

To Buy a Home

Buying a home is an exciting time, but there are a lot of financial considerations. After all, this is often one of the most expensive purchases that most people will make in their lifetimes. Many homebuyers take out mortgages in order to purchase homes, and lenders often require down payments from borrowers. The percentage required will depend on several factors, including the type of mortgage, but a down payment ranging from 10 to 20 percent of the home’s sale price is typical. As such, it’s no surprise that the purchase of a home is one of the top reasons for selling future structured settlement payments. Some borrowers even opt to put down more money than the required amount toward their home purchase, which can help lower monthly payments. Depending on the cost of the home you’d like to buy and the value of your structured settlement payments, MyLumpsum can work with you to determine what best suits your home buying goals.

To Go to College

College is another significant monetary investment that many people make in their lifetimes. Whether you or a loved one just graduated from high school, or you’re looking to return to college several years later and finish what you started, there’s no denying that a college degree can open up doors to more opportunities. There’s also no denying that college can be quite costly; in fact, it’s often this cost that stops many people from pursuing their dreams of attending college and earning degrees. If you’re receiving structured settlement payments, however, you may have the perfect solution already accessible to you: selling some or all of your future payments for a lump sum of cash. Like many other payment stream recipients have done in the past, you can use that lump sum of cash to pay for college tuition.

To Pay Off Debt

From credit cards to large loans, more Americans are struggling with debt more than ever. In such an unpredictable economic climate, it is essential to pay off debt if you’re struggling with high payments and looking for a fresh start. Many people choose to sell structured settlement payments for this very reason and eliminate all debt.

Sell Settlement Payments with MyLumpsum

Whether you have financial obligations you need to tackle, or you’d like some extra cash to fund an exciting new milestone, MyLumpsum is here to help. We truly enjoy helping people achieve their dreams and meet their financial goals, and we’re happy to help create a customized solution for you. Contact MyLumpsum today at (866) 931-9321 to learn more about selling some or all your future structured settlement payments for a lump sum of cash.