Winning money or coming into a lot of money can be a very exciting time. But, it can also be a trying time. Making sound financial decisions can be difficult if you are not in the habit of doing so. If you have won the lottery or a settlement or are going to be receiving an inheritance, these are all times to think about what you are going to do with that money. Investments are important but there are still cash needs that need to be considered. If you need extra cash for something, then consider getting cash for a settlement instead of the yearly payments that will ensue. Here are a few reasons that you may prefer cash for a settlement:
- Debt Elimination
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As things are now, about 62% of Americans are unable to cover any unexpected expenses should they arise. According to a recent survey, only 38% of Americans said that they could cover an unexpected trip to the emergency room with the money they have in their accounts. In other words, there are about 197 million people who are unprepared to absorb the cost of an illness or injury, or repairs to their car or home.
To help you get a better idea of