Congratulations! You just won the lottery! Now you can finally get rid of the debt that has been holding you back from living the life you’ve always imagined. What an incredible feeling. But wait, hold on – you just heard from the lottery officials that you won’t receive those lottery winnings up front, but rather in installments over the next several years or even decades. I’m sure at this point you are feeling deflated and like the rug was pulled out from under you. The process isn’t fair to winners. Don’t lose hope just yet, there is a way to get a lottery lump sum payout by selling lottery payments. Your lottery winnings can also be known as a structured settlement. Selling a structured settlement is a legal process that can allow you to get a lump sum payout for your lottery winnings rather than waiting for years to collect. Here are a few of the ways that you could use the cash from selling your structured settlement:
1. Pay off your house – Can you imagine not having a mortgage payment every month? In the average American household, adults owe $70,322 on their mortgage. Sometimes it feels like you’ll never pay it off, but by getting cash for structured settlement payments it can finally be possible!
2. Pay off your car – Believe it or not, outstanding auto loans have increased from $866.44 billion to $943.76 billion in just one year (from 2014 to 2015). There are an outrageous number of American families struggling because they need to have a car to survive but can’t afford it. When you sell your structured settlement and get a lump sum payout of your lottery winnings you can get rid of those car payments once and for all!
3. Pay off your student loans – These days it seems like everyone has an enormous amount student loan debt following them around. Even though most student loan lenders offer income based repayment plans it doesn’t help with the interest that wont’ stop accruing. From 2014 to 2015 student loan debt that was owed grew from $1.21 trillion to $1.3 trillion. There’s no doubt that using your lump sum lottery winnings to pay off your student loan debt would be a life changing experience.
If you have been lucky enough to win the lottery you shouldn’t be held back by the red tape of the installment process. Sell your structured settlement and start using those lottery winnings to live the life you’ve always imagined! Contact us today to start the process!