The holiday season is finally over. But are you still reeling from the debt you managed to rack up on your credit card bill? If so, you’re not alone. According to a recent poll conduct by Galup, the average American will spend approximately $830 on presents in any given year.
And if you are a pet owner, chances are you owe even more. According to recent statistics, 63% of dog owners buy their furry friends holiday gifts, and 58% of cat owners do the same.
And while seeing the smiles (and yaps and purring noises) on your loved one’s faces may be worth the price tag, your credit card might not be feeling the same. If you’re still struggling to pay off those holiday bills, it might be time to sell that structured settlement or annuity that you’ve been sitting on all these years.
On average, a structured settlement payout is worth around $324,000, and it typically takes eight to 12 weeks for your annuity to be processed, and another 60 to 90 days for the judge to approve the sale. Once this process is completed, you can receive your money and begin paying off those credit card bills.
And if your holiday gift costs are a little over $1,000, your annuity settlement will give you more than enough money. If you get cash or an annuity or cash for structured settlements, you’ll be swimming in enough dough that you won’t have to worry about paying off those credit card bills for a very long time.
Paying off your debt really doesn’t have to be difficult. And while annuity settlements can be handy to have, there are other ways to pay off your debt without having to sell your annuity. Starting slowly with a budget and a payment plan can better equip you to tackle the massive debt you have ahead of you. Stop using your credit cards and instead pay in cash. To save money in order to pay off bills, shop at discount stores and cut coupons. If all else fails, ask for cold, hard, cash. That’ll ensure you get money back for everything you’ve spent this year!
