Cash Payouts Could Be Your Ticket to a Better Life

Cash PayoutsAsk just about anyone on the street if a cash payout could help them out, and you’ll get a million different reasons on how the money would be used. In 2014, the average American household credit card debt was $7,283 and mortgages, student loans, car payments, and medical bills are putting people into further debt.

For many Americans, the cash they put toward paying their debt goes primarily to paying off interest, not the principle. If you’ve received a structured settlement, you have the option to sell future installments for cash payouts. Read on to discover how a lump sum of cash can change your financial future.

Get out of debt: pay off medical bills or high interest credit cards.
Nobody plans a trip to the emergency room, but when accidents happen, the policy is to fix you now and bill you later. If you don’t have adequate insurance coverage, you could be left with exorbitant out-of-pocket expenses and no way to pay. You can sell your structured settlement payments as a reliable means to get out of debt.

Similarly, if you’ve racked up some serious charges on a high interest credit card, opt for selling future payments for a lump sum of cash instead of paying the minimum every month. It’s important to maintain a good credit rating, so if yours is in jeopardy, a cash payout can really help. Of course, it’s important to change your spending habits to ensure you don’t find yourself in a similar situation in the future.

Put yourself through college without taking out student loans.
The average college student today owes $32,264 in student loans, and the less fortunate ones have $100k or more in debt. Whether you want to further your education or acquire a new skill set to better or change your career, going back to school is expensive. Even though community colleges are much more affordable than a private 4-year university, you’re going to be shelling out a few thousand dollars a year—minimum. Unlike any other debt, student loans are never forgiven. This means that even if you file for bankruptcy, you will still owe money. If you are the recipient of a structured settlement, perhaps you’ll want to consider cash payouts to cover tuition instead of accruing unnecessary debt.

Start a business.
If you’ve always dreamed of owning your own business, and you’ve developed a solid business plan, perhaps you should consider a lump sum for some of your structured settlement payments to help finance the startup costs. Because you’ll need to justify the amount to a judge, you’ll need to put finances on paper to see if starting a business is in your best interest. Remember you’ll have to prove that the money will improve your current situation as well as keep you sustained in the future.

Cash payouts can be an extremely useful financial lifeline when you find yourself in a pinch or needing cash now to better your future. Whether you’re ready for a career change or trying to get out of debt resulting from a medical emergency, you have the option to sell future payments for a lump sum of cash. When you’re ready to get the most money for your structured settlement, contact RSL Funding for a free and accurate quote.