Studio City, CA (PRWEB) August 30, 2008
Structured Settlement and Lottery factoring company Woodbridge Investments, revealed today that the Florida and California based company has reached a record for August in their Lottery receivable purchasing department.
According to VP of Sales, Scott Schwartz, "We have purchased an unusually high number of payments from several states, including California, Arizona, and Massachusetts." Schwartz cites that bad economic times, inflation and an extraordinary number of families facing foreclosure are seeking alternatives to loans, and high interest credit cards. Schwartz continued by saying, "It's amazing, just to read some of the reports out there, last month banks repossessed nearly three times the number of homes that they did in July 2007, and one in every 464 households received a foreclosure filing last month."
Woodbridge Investments is not the only one taking notice of economic hard times. Financial experts and the news media speculate daily on how much worse, and how much longer Americans will be forced to endure the ripple effects of burgeoning national debt, and contracting commodities.
WASHINGTON - U.S. consumer inflation surged in July driven largely by soaring energy and food prices.The Labor Department said Thursday its consumer price index jumped by a seasonally adjusted 0.8% during the month, following a 1.1% rise in June. Inflation is up 5.6% in the past 12 months, the largest year-over-year increase since 1991.
-- Sue Kirchhoff, USA TODAY August 15 2008
Customer accounts executive, Bibianna Frank notes, "I deal with clients everyday looking to sell their future payments from lotteries, annuities, and structured settlements. They all seem to echo the same sentiment, none of them anticipated that they would have to plan for such a drastic turn in our economy. "Who knew filling up your refrigerator and gas tank would ever cost so much so soon?" Getting cash now for future payments has given many of our clients the money they needed to stay afloat and get back on track."
Woodbridge and its predecessor companies have purchased hundreds of millions of dollars in lottery payments since its inception in 1993.