What is the Lump Sum Industry?
Springing forth as a result of the invention of the state lottery, the lump sum industry has emerged as a means of offering an alternative when lottery winners find themselves in financial hardship between payments received from the lottery. A number of financial lenders have developed programs that provide coverage of outstanding debts in exchange for a claim upon future disbursements that would have gone to the winner. In many ways, the lump-sum industry serves as a crisis safety net for lottery winners that become a little too enthusiastic with their new financial status. Upon winning the lottery, many people begin to make purchases that they never would have considered otherwise. The assumption is that the money to cover all the new expenses is forthcoming in time, and the debt will eventually be covered. However, many lotteries pay out winnings in a series of payments, often monthly, bi-monthly, or annually. The end result is that a lottery winner can run up a great deal of debt t
