How Selling Structured Settlement Payments Can Alleviate Family Spending
Personal finance writer Jessica Dickler talks about how rising
healthcare costs continue to make life difficult for the American
family. In this article, she writes how 2012 was the fifth year in a row
that healthcare costs rose by a margin of 7 percent or more. According
to the Bureau of Labor Statistics, from 2007 to 2012, healthcare costs
have taken a huge chunk of the average American family's budget as the
prices of goods continue to rise.
Imagine how difficult it must be for a personal injury victim who
must also bear the financial pressure of his recovery. Things don't get
any easier if he's the sole breadwinner of the family, or if he's
someone who has been debilitated for some time and has been unable to
work. Sure, the sum he wins from the settlement could be enough to pay a
huge chunk of the bill—but what if he's forced to accept structured settlement payments for his injury that prevent him from covering the costs immediately?
In urgent financial situations like this, it's good to know that
there's an alternative to fall back on. A reliable buyer of structured
settlement payouts can convert the installments into a lump sum. Anyone
who receives recurring payments from an annuity or settlement but
suddenly finds himself in greater need for cash can turn to such a
professional for help.
Jessica Dickler's article also tackles the Obama administration's
Affordable Care Act, which aims to reduce healthcare costs down to
manageable levels. While some of its provisions have already been
implemented, the timeline on the U.S. Government's healthcare site shows
that the biggest changes are still in store for late 2013 to early
2014. In the meantime, though, families can approach structured
settlement buyers to bridge immediate cash deficits and lessen the
burden of healthcare spending on their finances.
Of course, there are considerations to be made before one signs a
contract with a buyer. Knowing the types of programs the company offers
is imperative, for one. Typically, a client will be offered a lump sum
in exchange for continual payment distribution. There might be other
options, though, should the client decide not to sell all his payments.
The buyer will also need the details of the structured settlement, so
one must come prepared. These details include the name of the life
insurance company paying the annuity, the schedule and amount of each
payment, and the number of payments remaining. With these specifics, the
buyer can determine the value of the structured settlement in lump sum.
“It's time to sell my structured settlement payments.” Those who find
themselves saying this more often must appreciate the intricacies of
the process. Because it is fiscal stability on the line, a reputable
buyer such as Granoff Enterprises makes it a point to educate potential
clients and even recommends that they seek legal counsel before
finalizing any contracts. Armed with all the information they need, they
can make the best decision for themselves and their families.