When you win the lottery it is advisable to take the installments rather than take all of the money at once. Having income that you can rely on for the future can significantly relieve financial stress and help to augment your income. Unfortunately there are times when you can’t wait for your next installment and need money now. You need to find a company that will purchase your lottery payments and give you a lump sum in return.
There are a lot of reasons for wanting a lump sum of cash rather than future payments. You may need to pay off bills or expenses that you are incurring immediately, you may want to buy a big ticket item like a car or house, or maybe you’d like to invest in a company. No matter what reason you have for wanting a lump sum payment you want to make sure that when you sell your future lottery winnings you get the best value in return.
There are a lot of companies that will purchase your lottery payments but sometimes they do not keep the payments. These companies quickly sell the lottery payments for a higher price than they paid you. Usually your payments end up with a bank. To eliminate these middlemen who profit by offering you a lower lump sum payment you can work directly with the bank.
There are a lot of banks that will purchase your lottery payments from you and can provide you with a generous lump sum payment. You want to make sure that the bank you are working with is experienced in the industry and will walk you through the process of cashing out your lottery winnings.
The better a bank’s credentials are the more likely they are to give you a fair price for your lottery winnings. An example is AnFed Bank. AnFed Bank is a bank that has been working in the lottery finance industry for years. Additionally they are a division of BofI Federal Bank. BofI Federal Bank is a publically traded company (NASDAQ: BOFI) and FDIC insured. With this history standing behind them you can trust that AnFed will give you a good deal.
When you sell your lottery winnings you want to make sure that you are going to get the best value out of the sale. If you are left needing money in the future because you got a low lump sum payment then you are back where you started. Work directly with a trusted bank to make sure that you get a generous lump sum payment.
