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I Have a Structured Settlement and I Need Cash – Where Do I Start?

Something has come up in your life – an emergency, an unexpected opportunity, or another immediate financial quandary – and you need to pay for it. At this point, you’ve probably started considering all the assets you have available.

Your structured settlement was arranged to give you a dependable payment stream for a long time, but for many people, those payments make up the only large asset they own. If you have a structured settlement but you suddenly need a larger lump sum, where is the best place to begin? Below we offer a few tips.

Evaluating Your Structured Settlement Payments

You can start by evaluating if you should sell your structured settlement payments or do something else.

A structured settlement annuity is beneficial for the recipient, as it helps provide him or her with financial security into the future. That’s why, if you need cash, it’s smart to weigh all your options besides using cash from selling your structured settlement payments to cover that immediate expense.

For example, you might consider:

  • Short-term options, such as a credit card, if you only need a small amount of money and you think you could pay it back quickly.
  • Speaking with your local bank about options for unsecured credit at a decent rate. You can also check quoting resources such as NerdWallet or Bankrate.
  • Getting a low-rate loan, such as through Prosper or LendingClub.

We go into more detail about these options here. But of course, speaking with a financial advisor would be more helpful when discussing the pros and cons of different ways to pay for your immediate need.

If Selling is the Best Option, Get Several Quotes

Maybe transferring the rights to your structured settlement payments for cash (which is what we mean when we refer to “selling”) is your best option. If that’s the case, it’s important to reach out to multiple companies to find out how much cash you could receive in the sale. You might be surprised by how much companies differ in their offers.

Be warned that some companies will continually contact you about selling, even if you’re clear that you are still deciding on how to move forward. CrowFly will never push you to sell or to choose our company. We even have a free calculator at the top of our homepage that will give you an estimate of how much your structured settlement payments are worth – and there’s no contact info required.

Talking it all out with a real person can be helpful in deciding what to do. We welcome you to reach out to us at 833-CROWFLY to speak with an experienced member of our team. CrowFly is all about getting sellers the best deal and ensuring they are well informed about the process and what to expect. Contact us today for a free, no-hassle chat, and get your questions answered.