Πέμπτη, 30 Ιανουαρίου 2014

Should you cash out your beloved structured settlement?

Everyone wanting to calculate his structured settlement or with an existing structured settlement dreams of the day they can “cash out”.  When they signed the finalization of the damages, the number seemed so large!  “How can I ever spend all this money?” You feel like you won the lottery!





As you soon found out, the monthly payments are spent much too quickly.<yes;">  The cost of living is much higher than you think.  Mortgage payments, car payments, taxes…it all adds up quick!  If you aren’t able to work, the financial pinch can be unbearable.  With nothing else to occupy your time, obsession takes over and money is the only thing you can think about.  Maybe you just want to take your family on that dream vacation or put your kid through college.  Whatever the reason, you need that money now and fast! Before using our structured settlement calculator, here are a few thoughts to consider:

1.     How is your health? 

a.   I feel good- If you feel good and your doctor says you are physically fit enough to work at least part of a day, why not jump back in the pool?  Look for a job you have always wanted to do and think you would enjoy.   Take it slow and ease yourself into the new routine.  If the job doesn’t work out, move on to the next.  The more money you are bringing in, the less money you are spending from your settlement checks.

b.      I think I can make it-  There’s my “Little Engine that Could!”  Talk to your doctor and get a good once over.  Talk to him about your plans and what kind of a job you would like to try.  If all is well, go for it!  You might find you can’t get up 30 minutes before you leave for work anymore.  You may need to stretch and get loosened up.  However, you are going in the right direction!  Take its slow and enjoy the new routine!  Beats watching television all day!

c.       The pain is just too severe-  Maybe leaving your home to go to a job isn’t for you quite yet.  That’s ok too!  There are millions of folks who work from home every day, injured or not.  By working from home you can work where and how you want to…even in your underwear!  Several insurance companies here in Missouri hire sales staff and, after a few weeks training, send them home.  All the phones work just like at the office.  Some companies even give you a computer and pay for your internet as long as you work for them.  This is a huge savings for the company and a good way for you to earn a paycheck.

2.       Do you really need to have the money now?

a.        I can wait- If this is something you can get by without; your best bet is to put it off for awhile.  If you can wait until next year to go on that dream vacation, figure out how much the entire trip will cost, then add 10%.  Place that number around your home to remind you to save.  Collect aluminum cans and recycle them.  Buy the cheaper laundry detergent.  Do everything you can to save for your vacation!  Never  scrimp on your medicines 

b.      It’s not life or death, but it’s close-  Transmission went out on the car, huh?  Or maybe the furnace went kaput?  Whatever the case, how much will cashing out or even borrowing from your structured settlement cost you?  No, not just now but later too.  That $2,000 you borrowed from your structured settlement could cost you $10,000 by the end of the term.   That’s one expensive transmission!  I hope it’s gold plated!  We all get in a financial pickle from time to time, but there are other ways to get the job done.  Call your friends, family and church.  Let them know your situation.  I’ve found out-of-work auto mechanics will do anything to feed their families and get your car back on the road.  HVAC companies frequently replace good working furnaces with new ones for renovation customers.  Talk to these companies, explain your plight.  I’m sure someone will have a good used one to get you by for awhile longer.

c.       I’ve absolutely gotta have it-  If there is no other way around your predicament, selling someor all of your structured settlement may be the way to go.  Take your time, get multiple quotes and negotiate (or find someone who will).   Be wary of websites offering multiple offers allowing you to pick the best one for you.  Usually they are the same company for all quotes.   This site is not.  It generates real, legitimate offers for your structured settlement.  This one’s a top pick!

I hope this helped you decide whether you need to sell your structured settlement.  Make no mistake about it, this is a big decision!  So big, I would strongly consider bringing in your attorney and financial adviser to help you with your decision.

Δεν υπάρχουν σχόλια:

Δημοσίευση σχολίου