It’s the beginning of another new year, and you, like many others, might need money now. Are you considering selling your structured settlement payments? Did you know that you can sell your structured settlement payments? There are many reasons for selling structured settlement payments. It could be for one of the following reasons:
- Buy a new vehicle
- Start a business
- Pay off debt
- Pay college tuition
- Buy a new home
This is just a short list of some reasons for selling structured settlement payments. Keep reading for a few examples of how Mainstreet Funding has been able to help people get the money they needed and the reasons for selling structured settlement payments.
Stories of Others Who Sold and the Reasons for Selling Structured Settlement
David Needed Cash to Start a Business and Other Bills
David received a settlement from a lawsuit after the wrongful death of his parents, and called Mainstreet Funding for more information about selling his structured settlement payments.
He owns a real estate business that purchases, renovates, and rents homes. David has found another home that he’d like to buy and renovate to use as a rental property. He also needs to pay off his student loans and medical bills. David needed nearly $90,000.00 so that he could:
- Pay off his student loans
- Pay off his medical expenses
- Purchase the rental property
David was able to sell a portion of the monthly payments which would allowed him to keep some of his monthly payment each month. This also allowed him to have extra income each month. The amount he received from selling his payments will allowed him to pay off his high-interest credit cards, pay his medical bills, and buy the rental property.
David was able to sell only a portion of his structured settlement payments because his insurance company allows splitting of payments.
Mary Wanted to Replace a Wrecked Vehicle and Buy a House
Mary recently settled a lawsuit from a car accident. She received $100,000.00 cash when the lawsuit settled, and she’s going to receive another $156,000.00 to be paid out in monthly payments of $650.00 guaranteed for 20 years, and then she’ll continue to receive $650.00 each month for the rest of her life.
Mary used the $100,000.00 she received when her lawsuit settled to pay:
- her attorney’s fees,
- pay off loans, and
- pay medical bills,
- credit card bills, and other bills.
The reasons Mary chose to sell structured settlement payments was that she still had bills to pay off, wanted money to buy a new car since hers was badly wrecked, and she also wanted to buy a house. Sadly, Mary lost her job after her car accident because she was out of work for so long. Now that the lawsuit is behind her and she is fully recovered and can return to work, she can start looking for a new job.
Mary was able to sell her monthly payments starting next year for 15 years, which allowed her to keep the $650.00 monthly payment to cover her bills for the next year until she’s found a new job. The amount she received from selling her payments allowed her to be able to buy her house, car, and pay off her bills.
If you’d like to find out more information and discuss the reasons for selling your structured settlement payments, please call Mainstreet Funding toll-free at 1-404-939-0029, or you can ask for a free, no-obligation quote right here on our website. Our pricing specialists will help you design a plan to meet your needs.