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If you happened to watch any of the Republican National Convention a key theme all of the speakers harped on was the economy. It is no secret that the economy is still far away from a rebound. In fact, from April thru June, the economy only grew 1.7%, which means that many people are still out of work or reluctant to spend money because of a fear of a double-dip recession. The lackluster economy has left many people in need of cash now.? It has even left some wondering if their structured settlement payment is worth it.
You may be asking yourself, ?Is it time to sell my structured settlement payment?? Well, that really depends on your own personal needs and goals. A structured settlement payment system was put into place to protect the individual by preventing overspending. This system works in theory, but it?s counterintuitive to protect the future if you?re damaging the present.? So what are some reasons to consider selling your structured settlement payment?
- If you?re going back to school: Keeping with the politics theme, another major issue politicians are fighting over is student loans. The student loan crisis may rival the mortgage crisis as millions of graduates are struggling to repay their loans in a stagnant economy where underemployment is the norm. Being able to pay for your loans through a lump sum on your structured settlement payment can help you avoid this headache.
- Medical bills: One of the leading causes of bankruptcy is medical bills. Roughly 43 million people in this country don?t have medical bills, so one trip to the emergency ruin can leave an uninsured person in dire straits. That?s not all. Even if you do have insurance, the premiums can be too much or the procedure may not be covered. In these instances, selling your structured settlement payment can provide the relief necessary.
- Starting a business: If you?re sick of your situation and see no way out, maybe it?s time to rely on the one person you can depend on: yourself. Becoming an entrepreneur puts destiny in your own hands, and given the current economic climate, it may not be a bad idea. However, you?re going to need startup capital to pay for space, inventory, labor, and other necessary costs. A large lump sum may be the capital you need to start a new life for you and your family.
Be sure to take these instances into consideration when asking yourself, ?When should I sell my structured settlement??
Jillian Johnson is a professional marketing content writer who writes blogs on a variety of topics. Follow her @MissWritey.
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