Cash For Structured Settlement-What will Cashing-Out Cost me?
A simple example of this is as follows: If you have a $1,000 invested
at 7.2%, in ten years it will be doubled, meaning that your payments
actually add up to $2,000 even though the initial investment was $1,000 or
less. The present value - the $1,000 will be discounted to cover costs to
do the deal and the remaining is then given to you. There are costs
involved that include attorney and filing fees. You need to determine if
it is worth the loss prior to making the deal. The good thing is, you can
choose too cash-out only a portion of the annuity, rather than the whole
thing. There are programs that allow you to do this so that you can still
enjoy receiving a monthly annuity and get some type of future payment. |
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