Hopefully, you will never get into a situation that results in a lawsuit. Unfortunately, that situation is more common than you would think. In 2013, medical malpractice litigation alone resulted in $3.6 billion in payments. Another kind of litigation, lawsuits against employees, have grown 400% since 1995. Whether payments come from trial decisions or pre-trial settlements (which is the case 80-92% of the time), payments from negligence, injury, malpractice, and a slew of other grievances gross in the billions of dollars every year — for better or for worse.
A major misconception about payments from court settlements is that they’re paid all at once. This is almost never the case. The reality is that payments are made gradually, oftentimes years. In what’s known as a structured settlement annuity, settlement payments are made consecutively. Though payment plans vary, sometimes the people who get the money don’t receive enough of it when they need it the most. And when it comes to paying off, say, medical bills or lawyer fees, that can spell a lot of trouble.
There are options for these people, though, that can enable them to see their payments immediately — or at least much quicker than through the courts. Selling your annuity settlement means you can get cash immediately, either in a lump sum or in a series of payments much larger and quicker than the conventional method. More than 37,000 Americans use money from structured settlements every year. Cash for annuity payments can be used to pay off medical bills, lawyer fees, credit card debt, college loans, and other expenses. There are a number of companies that specialize in buying and investing structured settlement annuities. These same companies are also capable of buying lottery winnings, too!
If you’re interesting in getting cash for annuity payments, feel free to find out more by writing a question or a comment at the bottom.