If you happen to one of the many Americans hoping to sell structured settlement or annuity payments, then chances are you didn’t even really know what the settlement or annuity process would entail. Naturally, many find the inability to use their money when they want to frustrating. This can be a big problem if dealing with a lot of debt.
If you feel like you’re the only one struggling to pay bills on time, don’t worry. You definitely aren’t. Almost one in every five Americans considers themselves to be buried in debt at any given time, and one in four adults says that they have trouble paying their bills on time every single month.
Believe it or not, the average American household has around 13 payment cards, including credit, debit, and bank cards. Knowing that, it makes a little more sense that the average household has around $15,355 in credit card debt. Add in mortgage payments, car payments, and student loan payments, and you’re looking at about $129,579 worth of outstanding debts in the average American household.
Selling your structured structured settlement, annuity settlement, or lottery annuity won’t solve all of your debt issues immediately. You’ll still have to consider things like debt repayment plans, financial management skills, and possibly even investment options. This will make sure that you’re handling your influx of cash wisely.
Selling your annuity can help you take down your debt, providing you with the foundation you need to start building up better credit. This is exactly why so many people choose to sell their settlements or annuities.
Of course, there are plenty of other reasons why you might be considering selling your annuity! We’d love to hear about your experiences dealing with an annuity or settlement plan, and also what’s motivating you to consider selling.