When times get tough and the financial resources get lighter due to the economic distress, some families sit down and wonder how they are going to pay the bills. There is nothing worse than receiving the bills from creditors in the mail and not know how to make the payments. Thousands of families across the United States of America are going through this very issue as they make decisions each month to pay the utilities this month or put food on the table. Unfortunately, the economy doesn’t appear to be improving so that these issues may continue for an extended period of time. So are credit cards, personal loans or annuity payments options for people to solve their financial distress in this market?
So what options are available for Raising Cash?
Well, the answer to this question is quite distressing in light of the historical banking issues. When the banking world got turned upside down three to four years ago, the ability of the average person to receive a personal loan to provide a bridge during tough times. As most Americans go into their local banking branch and ask for a personal loan they get presented with the dreaded answer, no. No, because you don’t have enough income or no your credit is not good enough or finally no you don’t have enough collateral. Whatever the reason, the number of loans being provided to Americans has drastically dropped over the years.
A lot of people fall back on one of the most financially devastating things that they could do, which is to pay their bills on credit card. Credit cards, of course, is designed to keep people in debt even if they have the best of intentions. The minimum payment on credit cards usually only provides a small amount of principle repayment. Between only paying a small amount of principle and the credit card having a large interest rate, the credit card usually causes most people’s debt to balloon out of control. What about selling annuity payments for cash to pay bills?
Annuity Payments may be another option?
Although the two options of getting a personal loan or paying bills with credit cards can be available they both definitely have negatives that would keep most prudent people from taking part in those options. So what other options are there? There is a hand full of individuals in the nation who have annuity payments or structured settlement payments that are due to them over time. The annuity payments can be structured to payout monthly, annually or as lump sum payments. The annuity payments were setup to provide income that fits the financial needs of the annuitant. Many times the annuity payments are set up with the best intentions and with the best estimate of needs, however needs for all of us change with the times. So if things, financially, change for an annuitant they could choose to sell their annuity payments and receive the cash they need today to pay their bills.
If you need to sell annuity payments to raise cash make sure to choose the low-cost leader in the structured settlement industry and contact Mainstreet Funding at 1-404-939-0029 or fill out the form to the right.