How to Find the Best Pre-Settlement Loan Company

Cash for settlement payment

Winning the lottery is great, until the moment it actually happens. Only then do you discover the reality of the system complete with taxes, payment schedules, and hidden fees. What was once a dream to so many quickly can turn into a nightmare. Thankfully, there are options available to help you sell annuity payments and get cash for settlements quickly. By familiarizing yourself with what to expect when you do win, you’ll be better prepared to find the best pre settlement loan company.

Payment Schedules
Your schedule of payments relies largely on where your earnings are coming from. The Mega Millions lottery pays out one immediate payment followed by 29 annual payments that increase by 5% each time. The Powerball lottery instead has a set of 30 annual payments that increase over time. The Mega Millions is what may be described as an “immediate” annuity payment program that pays out within 30 days of filing your winnings. Another typical payment plan can award the recipient with annual payments until death.

How to Get Your Money
Although most people with annuities are expected to sit and wait before collecting, the truth of the matter is there are people who could really use that money now. From the moment you win, you already owe the government 25% of your winnings in taxes plus additional hidden fees and state taxes. Some of the best pre settlement loan company employees will offer cash for your structured settlement, so you can use the money whenever you need it. Nearly 37,000 Americans use money from annuities and structured settlements each year, with 92% of those who sold their settlements stating that they are satisfied with the return. If you want to maximize the amount of money earned from the lottery or a structured settlement, consider selling your annuity payments for lump sum cash as soon as you can!